163,165 Shares in National Grid Transco, PLC (NYSE:NGG) Purchased by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT has invested approximately $10.71 million in National Grid Transco, acquiring 163,165 shares, making it the fund's 24th largest position.
• Several institutional investors, including FMR LLC and Federated Hermes Inc., have increased their stakes in National Grid Transco, indicating growing interest in the stock.
• National Grid Transco has received mixed ratings from analysts, with an average rating of "Moderate Buy" and a consensus price target of $80.40, reflecting varying expectations about the company's future performance.

Zions Bancorporation National Association UT purchased a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 163,165 shares of the utilities provider's stock, valued at approximately $10,705,000. National Grid Transco makes up about 0.7% of Zions Bancorporation National Association UT's portfolio, making the stock its 24th biggest holding.

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

Wall Street Analyst Weigh In

NGG has been the subject of a number of recent analyst reports. Barclays reissued an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Wall Street Zen cut shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. Finally, Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Stock Performance

National Grid Transco stock traded down $1.00 during midday trading on Tuesday, hitting $70.23. The stock had a trading volume of 367,049 shares, compared to its average volume of 896,136. The firm's fifty day moving average is $71.74 and its two-hundred day moving average is $68.22. The company has a market capitalization of $68.85 billion, a PE ratio of 13.50, a P/E/G ratio of 1.61 and a beta of 0.63. National Grid Transco, PLC has a 52-week low of $55.82 and a 52-week high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

National Grid Transco Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, May 30th were issued a dividend of $2.0345 per share. This represents a yield of 470.0%. The ex-dividend date of this dividend was Friday, May 30th. National Grid Transco's dividend payout ratio (DPR) is 78.27%.

National Grid Transco Company 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.