Creative Planning Buys 16,857 Shares of National Grid Transco, PLC $NGG

Creative Planning lifted its position in National Grid Transco, PLC (NYSE:NGG) by 23.3% during the second quarter, HoldingsChannel.com reports. The fund owned 89,239 shares of the utilities provider’s stock after purchasing an additional 16,857 shares during the period. Creative Planning’s holdings in National Grid Transco were worth $6,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. L & S Advisors Inc acquired a new position in National Grid Transco during the second quarter valued at approximately $2,945,000. PNC Financial Services Group Inc. raised its holdings in National Grid Transco by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 63,405 shares of the utilities provider’s stock worth $4,718,000 after purchasing an additional 6,657 shares during the period. Wealth Alliance LLC boosted its position in shares of National Grid Transco by 5.9% during the second quarter. Wealth Alliance LLC now owns 27,280 shares of the utilities provider’s stock worth $2,030,000 after purchasing an additional 1,528 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of National Grid Transco in the 2nd quarter valued at $1,046,000. Finally, Allworth Financial LP grew its holdings in shares of National Grid Transco by 43.4% in the 2nd quarter. Allworth Financial LP now owns 3,676 shares of the utilities provider’s stock valued at $274,000 after buying an additional 1,113 shares during the period. Institutional investors own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NGG. Zacks Research lowered National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Transco Stock Performance

NGG stock opened at $76.14 on Thursday. The stock has a 50-day moving average price of $74.46 and a two-hundred day moving average price of $72.52. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $78.49. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

National Grid Transco Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, January 13th. Investors of record on Friday, November 21st will be given a $1.0657 dividend. This represents a yield of 274.0%. The ex-dividend date of this dividend is Friday, November 21st.

About National Grid Transco

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.