ABC Arbitrage SA Buys 42,912 Shares of National Grid Transco, PLC $NGG

ABC Arbitrage SA grew its stake in National Grid Transco, PLC (NYSE:NGG) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,114 shares of the utilities provider’s stock after purchasing an additional 42,912 shares during the quarter. National Grid Transco makes up approximately 4.0% of ABC Arbitrage SA’s investment portfolio, making the stock its 5th largest holding. ABC Arbitrage SA’s holdings in National Grid Transco were worth $30,043,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NGG. First Pacific Financial grew its holdings in National Grid Transco by 194,350.0% in the 4th quarter. First Pacific Financial now owns 11,667 shares of the utilities provider’s stock valued at $902,000 after buying an additional 11,661 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of National Grid Transco by 47,478.9% during the fourth quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider’s stock worth $69,041,000 after purchasing an additional 890,704 shares during the period. Perpetual Ltd bought a new position in shares of National Grid Transco during the fourth quarter worth approximately $2,347,000. Miller Howard Investments Inc. NY raised its position in shares of National Grid Transco by 23.5% in the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider’s stock valued at $10,193,000 after buying an additional 22,898 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new position in National Grid Transco during the 4th quarter worth $464,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NGG. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Monday, March 23rd. UBS Group reiterated a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $85.50.

National Grid Transco Stock Up 0.9%

NGG stock opened at $83.32 on Tuesday. The stock has a 50-day moving average price of $83.29 and a 200-day moving average price of $84.95. National Grid Transco, PLC has a 1-year low of $67.51 and a 1-year high of $94.64. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71.

National Grid Transco Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th will be issued 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.