Gladstone Institutional Advisory LLC Takes Position in National Grid Transco, PLC $NGG

Gladstone Institutional Advisory LLC purchased a new position in National Grid Transco, PLC (NYSE:NGG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,722 shares of the utilities provider’s stock, valued at approximately $561,000.

Several other institutional investors also recently bought and sold shares of NGG. Trust Co. of Toledo NA OH bought a new position in National Grid Transco in the second quarter worth approximately $31,000. V Square Quantitative Management LLC purchased a new position in shares of National Grid Transco in the 2nd quarter valued at $35,000. Salomon & Ludwin LLC raised its position in shares of National Grid Transco by 4,218.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 464 shares in the last quarter. Huntington National Bank lifted its stake in shares of National Grid Transco by 41.1% during the 2nd quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 146 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of National Grid Transco by 100.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 526 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 263 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on NGG. BNP Paribas lowered 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. Morgan Stanley started coverage on shares of National Grid Transco in a research report on Friday, December 12th. They set an “overweight” rating and a $85.50 target price for the company. National Bankshares set a $85.50 target price on shares of National Grid Transco in a research note on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Four 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Trading Up 0.1%

NYSE NGG opened at $79.50 on Friday. National Grid Transco, PLC has a 12-month low of $55.82 and a 12-month high of $80.33. The company has a fifty day simple moving average of $76.54 and a two-hundred day simple moving average of $73.72. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

National Grid Transco Announces Dividend

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

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.