Janney Montgomery Scott LLC Trims Position in National Grid Transco, PLC $NGG

Janney Montgomery Scott LLC decreased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,074 shares of the utilities provider’s stock after selling 15,853 shares during the quarter. Janney Montgomery Scott LLC’s holdings in National Grid Transco were worth $7,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in National Grid Transco during the first quarter worth about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of National Grid Transco by 79.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after buying an additional 15,873 shares during the period. NewEdge Advisors LLC grew its stake in shares of National Grid Transco by 12.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after buying an additional 971 shares during the period. Focus Partners Wealth grew its stake in shares of National Grid Transco by 11.1% in the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after buying an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of National Grid Transco during the 2nd quarter worth approximately $221,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Price Performance

National Grid Transco stock opened at $82.82 on Friday. The company’s 50 day simple moving average is $83.84 and its 200-day simple moving average is $84.62. National Grid Transco, PLC has a 1 year low of $67.51 and a 1 year 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 Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on NGG shares. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, National Grid Transco presently has an average rating of “Reduce” and a consensus target price of $85.50.

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.