Renaissance Technologies LLC Decreases Stake in National Grid Transco, PLC $NGG

Renaissance Technologies LLC cut its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,168,755 shares of the utilities provider’s stock after selling 246,531 shares during the period. Renaissance Technologies LLC owned about 0.22% of National Grid Transco worth $183,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NGG. AQR Capital Management LLC acquired a new stake in National Grid Transco during the 1st quarter valued at approximately $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of National Grid Transco by 12.5% during 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 last quarter. Focus Partners Wealth boosted its stake in shares of National Grid Transco by 11.1% during 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 last quarter. Finally, Sivia Capital Partners LLC acquired a new stake in shares of National Grid Transco during the second quarter worth approximately $221,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

National Grid Transco Trading Down 0.0%

Shares of NGG opened at $82.34 on Friday. National Grid Transco, PLC has a 52 week low of $67.51 and a 52 week 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. The stock has a 50 day moving average of $82.66 and a 200-day moving average of $85.23.

National Grid Transco Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were issued a $2.1738 dividend. This represents a 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.