National Grid Transco, PLC $NGG Shares Sold by Summit Global Investments

Summit Global Investments lessened its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 50.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 15,678 shares of the utilities provider’s stock after selling 15,946 shares during the quarter. Summit Global Investments’ holdings in National Grid Transco were worth $1,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC lifted 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 worth $25,000 after acquiring an additional 149 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of National Grid Transco during the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. raised its position in shares of National Grid Transco by 88.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of National Grid Transco during the 3rd quarter worth approximately $28,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of National Grid Transco in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Stock Performance

NGG opened at $82.43 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $82.88 and its 200-day moving average is $85.14. National Grid Transco, PLC has a twelve month low of $67.51 and a twelve month high of $94.64.

National Grid Transco Announces Dividend

The firm also recently announced a dividend, which will be paid on Thursday, July 23rd. Investors of record on Friday, May 29th will be given a $2.1738 dividend. This represents a yield of 533.0%. The ex-dividend date is Friday, May 29th.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NGG shares. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Friday. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $85.50.

National Grid Transco Company 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.