Wealth Alliance LLC Sells 7,331 Shares of National Grid Transco, PLC $NGG

Wealth Alliance LLC lessened its holdings in National Grid Transco, PLC (NYSE:NGG) by 25.7% during the first quarter, HoldingsChannel reports. The fund owned 21,160 shares of the utilities provider’s stock after selling 7,331 shares during the quarter. Wealth Alliance LLC’s holdings in National Grid Transco were worth $1,790,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Entropy Technologies LP raised its stake in shares of National Grid Transco by 167.8% in the first quarter. Entropy Technologies LP now owns 31,905 shares of the utilities provider’s stock worth $2,699,000 after purchasing an additional 19,993 shares during the last quarter. Bollard Group LLC boosted its position in shares of National Grid Transco by 14.8% during the first quarter. Bollard Group LLC now owns 26,342 shares of the utilities provider’s stock valued at $2,229,000 after buying an additional 3,387 shares during the last quarter. Gamco Investors INC. ET AL purchased a new position in shares of National Grid Transco during the first quarter valued at approximately $212,000. GC Wealth Management RIA LLC grew its holdings in National Grid Transco by 27.1% during the first quarter. GC Wealth Management RIA LLC now owns 10,709 shares of the utilities provider’s stock worth $906,000 after buying an additional 2,282 shares in the last quarter. Finally, Compound Planning Inc. grew its holdings in National Grid Transco by 3.0% during the first quarter. Compound Planning Inc. now owns 14,947 shares of the utilities provider’s stock worth $1,265,000 after buying an additional 433 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGG. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Wall Street Zen upgraded shares of National Grid Transco from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Finally, Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $85.50.

National Grid Transco Price Performance

Shares of National Grid Transco stock opened at $82.34 on Friday. The business’s fifty day simple moving average is $82.66 and its 200 day simple moving average is $85.23. National Grid Transco, PLC has a 12 month low of $67.51 and a 12 month high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09.

National Grid Transco Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, July 23rd. Investors of record on Friday, May 29th were issued a $2.1738 dividend. This represents a dividend yield of 533.0%. The ex-dividend date of this dividend was Friday, May 29th.

About National Grid Transco

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.