Y Intercept Hong Kong Ltd acquired a new stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 25,524 shares of the utilities provider's stock, valued at approximately $1,675,000.
Several other large investors have also made changes to their positions in the business. Choreo LLC grew its position in National Grid Transco by 2.8% during the 1st quarter. Choreo LLC now owns 8,757 shares of the utilities provider's stock worth $575,000 after purchasing an additional 238 shares during the period. HighPoint Advisor Group LLC grew its holdings in National Grid Transco by 6.8% during the first quarter. HighPoint Advisor Group LLC now owns 8,596 shares of the utilities provider's stock worth $564,000 after acquiring an additional 549 shares during the period. Arrow Financial Corp purchased a new position in National Grid Transco during the first quarter valued at approximately $212,000. Gallacher Capital Management LLC lifted its holdings in National Grid Transco by 21.1% in the first quarter. Gallacher Capital Management LLC now owns 5,858 shares of the utilities provider's stock valued at $384,000 after acquiring an additional 1,022 shares during the period. Finally, Wealth Alliance LLC boosted its position in National Grid Transco by 24.6% in the 1st quarter. Wealth Alliance LLC now owns 25,752 shares of the utilities provider's stock worth $1,690,000 after purchasing an additional 5,088 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently issued reports on NGG shares. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Royal Bank Of Canada cut National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. UBS Group downgraded National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Finally, Barclays reiterated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.40.
Check Out Our Latest Research Report on NGG
National Grid Transco Price Performance
Shares of NYSE NGG traded down $0.12 during midday trading on Friday, hitting $72.11. The stock had a trading volume of 553,504 shares, compared to its average volume of 917,810. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The stock has a 50 day simple moving average of $72.16 and a 200-day simple moving average of $67.19. The company has a market capitalization of $70.70 billion, a PE ratio of 13.87, a P/E/G ratio of 1.63 and a beta of 0.63. 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 company also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued a $2.0345 dividend. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid Transco's payout ratio is currently 78.27%.
National Grid Transco Profile
(
Free Report)
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.
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