National Grid Transco, PLC $NGG Stock Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 10.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 55,270 shares of the utilities provider’s stock after selling 6,722 shares during the quarter. PNC Financial Services Group Inc.’s holdings in National Grid Transco were worth $4,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NGG. Johnson Financial Group Inc. bought a new stake in National Grid Transco during the 3rd quarter valued at $25,000. Root Financial Partners LLC grew its stake in shares of National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 149 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of National Grid Transco during the third quarter valued at $28,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of National Grid Transco during the fourth quarter valued at $34,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Wall Street Zen raised shares of National Grid Transco from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft cut shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, National Grid Transco presently has an average rating of “Reduce” and an average price target of $85.50.

National Grid Transco Stock Performance

NGG opened at $81.20 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. The stock’s fifty day moving average is $82.60 and its 200-day moving average is $85.29. National Grid Transco, PLC has a one year low of $67.51 and a one year high of $94.64.

National Grid Transco Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were given a $2.1738 dividend. The ex-dividend date was Friday, May 29th. This represents a yield of 533.0%.

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.