Cullen Capital Management LLC Buys 30,414 Shares of National Grid Transco, PLC $NGG

Cullen Capital Management LLC boosted its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 761,975 shares of the utilities provider’s stock after acquiring an additional 30,414 shares during the period. Cullen Capital Management LLC’s holdings in National Grid Transco were worth $58,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NGG. Natural Investments LLC raised its stake in National Grid Transco by 1.2% during the fourth quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock worth $898,000 after acquiring an additional 133 shares in the last quarter. Cozad Asset Management Inc. raised its stake in National Grid Transco by 4.4% during the third quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 140 shares in the last quarter. Root Financial Partners LLC raised its stake in National Grid Transco by 88.2% during the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 149 shares in the last quarter. IFP Advisors Inc raised its stake in National Grid Transco by 28.1% during the third quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 152 shares in the last quarter. Finally, Huntington National Bank raised its stake in National Grid Transco by 30.9% during the third quarter. Huntington National Bank now owns 656 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 155 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Trading Up 0.3%

Shares of NGG stock opened at $81.80 on Friday. The stock’s fifty day moving average is $85.62 and its 200-day moving average is $83.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. National Grid Transco, PLC has a 52 week low of $67.51 and a 52 week high of $94.64.

National Grid Transco Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NGG shares. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Jefferies Financial Group reiterated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group reiterated a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $85.50.

National Grid Transco Company 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.