Y Intercept Hong Kong Ltd Increases Stock Position in National Grid Transco, PLC $NGG

Y Intercept Hong Kong Ltd increased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 2,054.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,228 shares of the utilities provider’s stock after buying an additional 66,014 shares during the period. Y Intercept Hong Kong Ltd’s holdings in National Grid Transco were worth $5,857,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. First Pacific Financial lifted its stake in shares of National Grid Transco by 194,350.0% in the fourth quarter. First Pacific Financial now owns 11,667 shares of the utilities provider’s stock worth $902,000 after acquiring an additional 11,661 shares in the last quarter. Causeway Capital Management LLC grew its stake in National Grid Transco by 112.4% during the 3rd quarter. Causeway Capital Management LLC now owns 671,143 shares of the utilities provider’s stock valued at $48,772,000 after purchasing an additional 355,149 shares in the last quarter. Natixis Advisors LLC grew its stake in National Grid Transco by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock valued at $146,150,000 after purchasing an additional 36,984 shares in the last quarter. American Century Companies Inc. increased its holdings in National Grid Transco by 18.7% during the 3rd quarter. American Century Companies Inc. now owns 224,912 shares of the utilities provider’s stock worth $16,344,000 after purchasing an additional 35,449 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in National Grid Transco by 67.4% during the 3rd quarter. Bank of Montreal Can now owns 1,669,191 shares of the utilities provider’s stock worth $121,300,000 after purchasing an additional 672,050 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

NGG has been the subject of several research analyst reports. UBS Group reiterated a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. The Goldman Sachs Group restated a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Jefferies Financial Group reissued a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. Finally, Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, National Grid Transco has an average rating of “Reduce” and an average target price of $85.50.

National Grid Transco Stock Performance

NYSE:NGG opened at $82.82 on Friday. National Grid Transco, PLC has a 12-month low of $67.51 and a 12-month high of $94.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The business has a 50 day simple moving average of $83.84 and a 200 day simple moving average of $84.62.

National Grid Transco Dividend Announcement

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

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.