National Grid Transco, PLC (NYSE:NGG) Shares Bought by Wambolt & Associates LLC

Wambolt & Associates LLC raised its stake in National Grid Transco, PLC (NYSE:NGG) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,938 shares of the utilities provider’s stock after buying an additional 1,737 shares during the period. Wambolt & Associates LLC’s holdings in National Grid Transco were worth $1,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of National Grid Transco by 49.8% during the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider’s stock worth $205,592,000 after purchasing an additional 1,041,918 shares during the last quarter. FMR LLC increased its position in National Grid Transco by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock worth $265,185,000 after buying an additional 473,172 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of National Grid Transco by 5,134.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider’s stock worth $19,651,000 after acquiring an additional 324,388 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of National Grid Transco by 19.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider’s stock worth $90,044,000 after acquiring an additional 228,179 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of National Grid Transco by 27.9% in the fourth quarter. Northern Trust Corp now owns 631,574 shares of the utilities provider’s stock valued at $37,528,000 after acquiring an additional 137,673 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NGG. BNP Paribas upgraded shares of National Grid Transco from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 29th. Wall Street Zen lowered shares of National Grid Transco from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Barclays reaffirmed an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 16th. Finally, BNP Paribas Exane assumed coverage on National Grid Transco in a research note on Thursday, May 29th. They set an “outperform” rating and a $80.40 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.40.

National Grid Transco Trading Down 0.3%

NYSE NGG opened at $72.06 on Friday. The firm has a market capitalization of $70.64 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco, PLC has a one year low of $55.82 and a one year high of $74.82. The company’s 50 day moving average price is $71.76 and its 200 day moving average price is $67.97.

National Grid Transco Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, July 28th. Investors of record on Friday, May 30th were issued a dividend of $2.0345 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 470.0%. National Grid Transco’s payout ratio is presently 78.08%.

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.