Strategic Investment Advisors MI acquired a new stake in shares of National Grid Transco, PLC (NYSE:NGG – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,041 shares of the utilities provider’s stock, valued at approximately $1,019,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC boosted its holdings in National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 149 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in National Grid Transco during the third quarter valued at about $25,000. Cullen Frost Bankers Inc. increased its stake in National Grid Transco by 88.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of National Grid Transco in the 3rd quarter worth about $28,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of National Grid Transco in the 4th quarter worth about $34,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on NGG shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of National Grid Transco from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Finally, Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $85.50.
National Grid Transco Trading Up 1.8%
Shares of NYSE NGG opened at $80.31 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09. National Grid Transco, PLC has a 1-year low of $67.51 and a 1-year high of $94.64. The business has a 50-day moving average of $82.30 and a 200-day moving average of $85.30.
National Grid Transco Dividend Announcement
The business also recently declared a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were issued a $2.1738 dividend. This represents a yield of 533.0%. The ex-dividend date was Friday, May 29th.
National Grid Transco Profile
National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.
Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.
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