CIBC Asset Management Inc cut its position in shares of National Grid Transco, PLC (NYSE:NGG) by 13.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,573 shares of the utilities provider’s stock after selling 10,157 shares during the period. CIBC Asset Management Inc’s holdings in National Grid Transco, PLC were worth $4,099,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NGG. Wells Fargo & Company MN boosted its stake in shares of National Grid Transco, PLC by 18.4% in the first quarter. Wells Fargo & Company MN now owns 1,910,886 shares of the utilities provider’s stock worth $121,304,000 after buying an additional 296,460 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of National Grid Transco, PLC by 814.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,248,874 shares of the utilities provider’s stock worth $79,279,000 after buying an additional 1,112,329 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of National Grid Transco, PLC by 1.7% in the first quarter. Macquarie Group Ltd. now owns 1,132,742 shares of the utilities provider’s stock worth $71,906,000 after buying an additional 18,795 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of National Grid Transco, PLC by 116.3% in the first quarter. Jane Street Group LLC now owns 1,022,460 shares of the utilities provider’s stock worth $64,906,000 after buying an additional 549,785 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of National Grid Transco, PLC by 6.5% in the first quarter. Morgan Stanley now owns 1,016,852 shares of the utilities provider’s stock worth $64,549,000 after buying an additional 62,273 shares in the last quarter. Institutional investors own 5.68% of the company’s stock.

National Grid Transco, PLC (NYSE:NGG) opened at 63.17 on Friday. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 4.33 and a beta of 0.45. The company’s 50-day moving average price is $62.99 and its 200-day moving average price is $66.69. National Grid Transco, PLC has a one year low of $60.08 and a one year high of $79.51.

The business also recently announced a special dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, June 2nd will be issued a $1.872 dividend. This is a boost from National Grid Transco, PLC’s previous special dividend of $0.93. The ex-dividend date of this dividend is Wednesday, May 31st.

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NGG has been the subject of several analyst reports. Zacks Investment Research cut National Grid Transco, PLC from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Berenberg Bank upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub cut National Grid Transco, PLC from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Citigroup Inc. upgraded National Grid Transco, PLC from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, HSBC Holdings plc cut National Grid Transco, PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $70.50.

National Grid Transco, PLC Company Profile

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

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Institutional Ownership by Quarter for National Grid Transco, PLC (NYSE:NGG)

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