Fulton Bank N.A. Lowers Holdings in National Grid Transco, PLC $NGG

Fulton Bank N.A. trimmed its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 28.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,634 shares of the utilities provider’s stock after selling 11,490 shares during the period. Fulton Bank N.A.’s holdings in National Grid Transco were worth $2,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its stake in shares of National Grid Transco by 88.2% in the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in National Grid Transco in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. boosted its position in National Grid Transco by 88.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of National Grid Transco in the third quarter valued at approximately $28,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of National Grid Transco in the 4th quarter worth $34,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

NGG has been the topic of several analyst reports. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Monday, March 23rd. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $85.50.

National Grid Transco Price Performance

NYSE:NGG opened at $80.19 on Thursday. National Grid Transco, PLC has a 1-year low of $67.51 and a 1-year high of $94.64. The firm’s fifty day moving average price is $83.92 and its 200 day moving average price is $84.58. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09.

National Grid Transco Announces Dividend

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

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.