Callan Capital LLC Makes New Investment in National Grid Transco, PLC (NYSE:NGG)

Callan Capital LLC bought a new stake in shares of National Grid Transco, PLC (NYSE:NGG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,207 shares of the utilities provider’s stock, valued at approximately $276,000.

A number of other large investors have also recently modified their holdings of the company. FMR LLC increased its position in shares of National Grid Transco by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock valued at $265,185,000 after acquiring an additional 473,172 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of National Grid Transco by 5.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,405,185 shares of the utilities provider’s stock worth $83,496,000 after buying an additional 68,587 shares during the last quarter. Envestnet Asset Management Inc. raised its position in 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 valued at $90,044,000 after purchasing an additional 228,179 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid Transco in the fourth quarter worth $67,324,000. Finally, Merewether Investment Management LP grew its stake in shares of National Grid Transco by 10.3% during the fourth quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider’s stock worth $62,597,000 after purchasing an additional 98,461 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NGG shares. Sanford C. Bernstein raised National Grid Transco from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid Transco in a research report on Wednesday, May 21st. BNP Paribas Exane assumed coverage on National Grid Transco in a research report on Thursday, May 29th. They set an “outperform” rating and a $80.40 target price on the stock. Barclays restated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 16th. Finally, BNP Paribas upgraded National Grid Transco from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 29th. One 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 given a strong buy rating to the company. According to MarketBeat.com, National Grid Transco currently has an average rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Transco Price Performance

Shares of NYSE NGG opened at $70.46 on Wednesday. The company has a fifty day moving average price of $71.89 and a 200 day moving average price of $66.05. National Grid Transco, PLC has a 1-year low of $54.24 and a 1-year high of $74.58. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market cap of $68.94 billion, a PE ratio of 13.55, a PEG ratio of 1.66 and a beta of 0.63.

National Grid Transco Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued a $2.0345 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a yield of 4.7%. National Grid Transco’s dividend payout ratio is currently 78.27%.

About National Grid Transco

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.