4,626 Shares in National Grid Transco, PLC (NYSE:NGG) Purchased by Todd Asset Management LLC

Key Points

• Todd Asset Management LLC has taken a new position in National Grid Transco, PLC, purchasing 4,626 shares valued at approximately $304,000.
• The company has cut its dividend to $2.0345 per share which represents a significant dividend yield of 470.0%.
• Analysts have mixed ratings for NGG, with an overall average rating of "Moderate Buy" and a price target of $80.40.

Todd Asset Management LLC bought a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,626 shares of the utilities provider's stock, valued at approximately $304,000.

Several other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in shares of National Grid Transco in the first quarter valued at $28,000. SJS Investment Consulting Inc. purchased a new position in National Grid Transco during the 1st quarter valued at about $29,000. Sound Income Strategies LLC grew its holdings in National Grid Transco by 197.3% during the 1st quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock valued at $58,000 after buying an additional 582 shares in the last quarter. Bessemer Group Inc. grew its holdings in National Grid Transco by 216.8% during the 1st quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock valued at $62,000 after buying an additional 657 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in National Grid Transco during the first quarter valued at approximately $71,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. BNP Paribas Exane started coverage on National Grid Transco in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price for the company. Finally, Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Price Performance

NGG traded up $1.05 during midday trading on Thursday, hitting $71.58. The stock had a trading volume of 590,966 shares, compared to its average volume of 893,178. The company has a market cap of $70.17 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 1.59 and a beta of 0.63. The business has a fifty day moving average of $71.70 and a 200 day moving average of $68.25. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $74.82.

National Grid Transco Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Stockholders of record on Friday, May 30th were paid a dividend of $2.0345 per share. This represents a dividend yield of 470.0%. The ex-dividend date of this dividend was Friday, May 30th. National Grid Transco's dividend payout ratio is 78.08%.

About National Grid Transco

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.