QRG Capital Management Inc. Purchases 41,783 Shares of National Grid Transco, PLC $NGG

QRG Capital Management Inc. boosted its position in National Grid Transco, PLC (NYSE:NGG) by 69.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,742 shares of the utilities provider’s stock after buying an additional 41,783 shares during the quarter. QRG Capital Management Inc.’s holdings in National Grid Transco were worth $8,607,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NGG. Root Financial Partners LLC boosted its position in National Grid Transco by 88.2% during the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of National Grid Transco in the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. raised its holdings in shares of National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in shares of National Grid Transco in the third quarter worth $28,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of National Grid Transco in the fourth quarter worth $34,000. Institutional investors own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NGG shares. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $85.50.

National Grid Transco Price Performance

NGG stock opened at $82.82 on Friday. 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, PLC has a 1-year low of $67.51 and a 1-year high of $94.64. The business’s 50 day simple moving average is $83.84 and its 200 day simple moving average is $84.62.

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.

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.