First Pacific Financial Grows Stock Position in National Grid Transco, PLC $NGG

First Pacific Financial increased its stake in National Grid Transco, PLC (NYSE:NGG) by 69.3% in the first quarter, HoldingsChannel reports. The fund owned 19,747 shares of the utilities provider’s stock after purchasing an additional 8,080 shares during the period. First Pacific Financial’s holdings in National Grid Transco were worth $1,671,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Causeway Capital Management LLC lifted its position in National Grid Transco by 112.4% in the third quarter. Causeway Capital Management LLC now owns 671,143 shares of the utilities provider’s stock valued at $48,772,000 after purchasing an additional 355,149 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of National Grid Transco by 1.9% in the third quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock worth $146,150,000 after purchasing an additional 36,984 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of National Grid Transco by 18.7% in the third quarter. American Century Companies Inc. now owns 224,912 shares of the utilities provider’s stock worth $16,344,000 after purchasing an additional 35,449 shares during the last quarter. Bank of Montreal Can increased its stake in shares of National Grid Transco by 67.4% in the third quarter. Bank of Montreal Can now owns 1,669,191 shares of the utilities provider’s stock worth $121,300,000 after buying an additional 672,050 shares during the period. Finally, Ramirez Asset Management Inc. purchased a new position in shares of National Grid Transco in the third quarter worth $4,558,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Transco Trading Down 1.1%

Shares of National Grid Transco stock opened at $82.86 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The business has a 50 day moving average of $84.04 and a 200 day moving average of $84.54. National Grid Transco, PLC has a 52 week low of $67.51 and a 52 week high of $94.64.

National Grid Transco Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th will be given a dividend of $2.1738 per share. This represents a yield of 533.0%. The ex-dividend date of this dividend is Friday, May 29th.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group reissued a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, National Grid Transco currently has an average rating of “Reduce” and a consensus target price of $85.50.

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.