National Grid Transco, PLC $NGG Position Boosted by Cullen Capital Management LLC

Cullen Capital Management LLC raised its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 761,975 shares of the utilities provider’s stock after acquiring an additional 30,414 shares during the quarter. Cullen Capital Management LLC owned approximately 0.08% of National Grid Transco worth $58,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NGG. SG Americas Securities LLC grew its stake in National Grid Transco by 47,478.9% during the 4th quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider’s stock valued at $69,041,000 after acquiring an additional 890,704 shares in the last quarter. Bank of America Corp DE grew its stake in National Grid Transco by 21.5% during the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after acquiring an additional 814,248 shares in the last quarter. Brandes Investment Partners LP purchased a new position in National Grid Transco during the 4th quarter valued at about $60,372,000. Bank of Montreal Can grew its stake in National Grid Transco by 67.4% during the 3rd quarter. Bank of Montreal Can now owns 1,669,191 shares of the utilities provider’s stock valued at $121,300,000 after acquiring an additional 672,050 shares in the last quarter. Finally, Causeway Capital Management LLC grew its stake in National Grid Transco by 112.4% during the 3rd quarter. Causeway Capital Management LLC now owns 671,143 shares of the utilities provider’s stock valued at $48,772,000 after acquiring an additional 355,149 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 equities analysts have weighed in on NGG shares. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research note on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. Finally, UBS Group reissued a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. 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. Based on data from MarketBeat, National Grid Transco currently has an average rating of “Reduce” and a consensus price target of $85.50.

National Grid Transco Trading Up 0.3%

Shares of NYSE NGG opened at $81.80 on Friday. The business has a 50 day simple moving average of $85.62 and a 200 day simple moving average of $83.92. National Grid Transco, PLC has a 52 week low of $67.51 and a 52 week high of $94.64. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71.

National Grid Transco Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, July 23rd. Investors of record on Friday, May 29th will be paid a $2.1738 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a dividend 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.