Orion Porfolio Solutions LLC Boosts Stock Holdings in National Grid Transco, PLC $NGG

Orion Porfolio Solutions LLC increased its position in National Grid Transco, PLC (NYSE:NGG) by 170.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,157 shares of the utilities provider’s stock after acquiring an additional 26,578 shares during the period. Orion Porfolio Solutions LLC’s holdings in National Grid Transco were worth $3,137,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of National Grid Transco by 21.5% in the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after purchasing an additional 814,248 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in National Grid Transco by 29.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,774,746 shares of the utilities provider’s stock worth $132,059,000 after buying an additional 402,329 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in National Grid Transco by 23.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock worth $151,916,000 after buying an additional 382,392 shares in the last quarter. Raymond James Financial Inc. raised its position in National Grid Transco by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock worth $124,395,000 after buying an additional 282,085 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in National Grid Transco by 398.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 347,391 shares of the utilities provider’s stock valued at $25,849,000 after acquiring an additional 277,756 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Transco Stock Down 1.0%

NGG opened at $76.37 on Friday. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $78.49. The firm’s 50 day simple moving average is $75.95 and its two-hundred day simple moving average is $73.05. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

National Grid Transco Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, January 13th. Investors of record on Friday, November 21st will be given a dividend of $1.0657 per share. The ex-dividend date is Friday, November 21st. This represents a yield of 284.0%.

Analysts Set New Price Targets

NGG has been the subject of a number of research analyst reports. BNP Paribas lowered shares of National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, November 24th. BNP Paribas Exane downgraded shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. National Bankshares set a $85.50 target price on shares of National Grid Transco in a research note on Friday, December 12th. Morgan Stanley initiated coverage on National Grid Transco in a research note on Friday, December 12th. They issued an “overweight” rating and a $85.50 price target on the stock. Finally, Zacks Research lowered National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, National Grid Transco currently has a consensus rating of “Hold” and a consensus price target of $83.80.

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.