US Bancorp DE Cuts Stock Holdings in National Grid Transco, PLC (NYSE:NGG)

US Bancorp DE reduced its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 15.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,513 shares of the utilities provider's stock after selling 6,897 shares during the period. US Bancorp DE's holdings in National Grid Transco were worth $2,396,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NGG. FMR LLC boosted its holdings in shares of National Grid Transco by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after buying an additional 473,172 shares in the last quarter. Invesco Ltd. increased its stake in National Grid Transco by 3.2% during the 4th quarter. Invesco Ltd. now owns 537,269 shares of the utilities provider's stock valued at $31,925,000 after purchasing an additional 16,409 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in National Grid Transco during the 4th quarter valued at approximately $651,000. Savvy Advisors Inc. acquired a new position in National Grid Transco during the 4th quarter valued at approximately $245,000. Finally, Guggenheim Capital LLC increased its stake in National Grid Transco by 377.5% during the 4th quarter. Guggenheim Capital LLC now owns 16,641 shares of the utilities provider's stock valued at $989,000 after purchasing an additional 13,156 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Performance

NGG traded down $1.08 during trading on Friday, reaching $71.00. 701,806 shares of the company's stock were exchanged, compared to its average volume of 869,096. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $74.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The stock has a market capitalization of $69.60 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63. The company's fifty day simple moving average is $71.75 and its 200-day simple moving average is $68.09.

National Grid Transco Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 28th. Stockholders of record on Friday, May 30th were issued 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 payout ratio is 78.27%.

Analyst Ratings Changes

NGG has been the topic of a number of recent analyst reports. BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Barclays restated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. BNP Paribas Exane started coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Profile

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.