Raleigh Capital Management Inc. Has $2 Million Position in National Grid Transco, PLC $NGG

Raleigh Capital Management Inc. lessened its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 30.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,593 shares of the utilities provider’s stock after selling 10,334 shares during the quarter. Raleigh Capital Management Inc.’s holdings in National Grid Transco were worth $1,996,000 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 NGG. Sound Income Strategies LLC lifted its holdings in National Grid Transco by 13.6% in the 1st quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 129 shares during the last quarter. Natural Investments LLC grew its holdings 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 valued at $898,000 after purchasing an additional 133 shares during the last quarter. Root Financial Partners LLC grew its holdings 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 valued at $25,000 after purchasing an additional 149 shares during the last quarter. IFP Advisors Inc grew its holdings in National Grid Transco by 28.1% during the third quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 152 shares during the last quarter. Finally, Optas LLC raised its position in shares of National Grid Transco by 1.9% in the fourth quarter. Optas LLC now owns 8,739 shares of the utilities provider’s stock valued at $676,000 after purchasing an additional 160 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Jefferies Financial Group reiterated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $85.50.

National Grid Transco Trading Down 0.0%

Shares of NGG opened at $82.82 on Friday. 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 company has a 50-day moving average price of $83.84 and a two-hundred day moving average price of $84.62. National Grid Transco, PLC has a 12 month low of $67.51 and a 12 month high of $94.64.

National Grid Transco Announces Dividend

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

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.