Renaissance Technologies LLC trimmed its stake in shares of National Grid Transco, PLC (NYSE:NGG – Free Report) by 10.2% during the first quarter, Holdings Channel reports. The firm owned 2,168,755 shares of the utilities provider’s stock after selling 246,531 shares during the period. Renaissance Technologies LLC’s holdings in National Grid Transco were worth $183,477,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in NGG. Bollard Group LLC boosted its position in National Grid Transco by 14.8% during the 1st quarter. Bollard Group LLC now owns 26,342 shares of the utilities provider’s stock valued at $2,229,000 after purchasing an additional 3,387 shares during the period. Gamco Investors INC. ET AL acquired a new stake in National Grid Transco in the first quarter worth $212,000. GC Wealth Management RIA LLC increased its position in National Grid Transco by 27.1% in the first quarter. GC Wealth Management RIA LLC now owns 10,709 shares of the utilities provider’s stock worth $906,000 after buying an additional 2,282 shares during the period. Compound Planning Inc. lifted its stake in National Grid Transco by 3.0% in the first quarter. Compound Planning Inc. now owns 14,947 shares of the utilities provider’s stock valued at $1,265,000 after buying an additional 433 shares during the last quarter. Finally, Modern Wealth Management LLC bought a new stake in National Grid Transco in the first quarter valued at $285,000. Institutional investors own 4.68% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on NGG shares. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, National Grid Transco presently has a consensus rating of “Reduce” and an average price target of $85.50.
National Grid Transco Stock Down 0.0%
NYSE NGG opened at $82.34 on Friday. National Grid Transco, PLC has a 12 month low of $67.51 and a 12 month high of $94.64. The company’s 50 day simple moving average is $82.66 and its 200 day simple moving average is $85.23. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09.
National Grid Transco Announces Dividend
The business also recently disclosed a dividend, which was paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th were paid a dividend of $2.1738 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a dividend yield of 533.0%.
About National Grid Transco
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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