Eagle Global Advisors LLC decreased its stake in National Grid Transco, PLC (NYSE:NGG) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,589 shares of the utilities provider’s stock after selling 4,473 shares during the period. Eagle Global Advisors LLC’s holdings in National Grid Transco, PLC were worth $2,236,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of NGG. Gilman Hill Asset Management LLC increased its position in shares of National Grid Transco, PLC by 6.2% in the second quarter. Gilman Hill Asset Management LLC now owns 23,777 shares of the utilities provider’s stock valued at $1,494,000 after buying an additional 1,392 shares during the period. Greenleaf Trust increased its position in shares of National Grid Transco, PLC by 93.0% in the second quarter. Greenleaf Trust now owns 9,612 shares of the utilities provider’s stock valued at $604,000 after buying an additional 4,632 shares during the period. Gradient Investments LLC increased its position in shares of National Grid Transco, PLC by 146.6% in the second quarter. Gradient Investments LLC now owns 10,906 shares of the utilities provider’s stock valued at $685,000 after buying an additional 6,484 shares during the period. TNB Financial increased its position in shares of National Grid Transco, PLC by 7.1% in the second quarter. TNB Financial now owns 20,222 shares of the utilities provider’s stock valued at $1,270,000 after buying an additional 1,349 shares during the period. Finally, Bank of Montreal Can increased its position in shares of National Grid Transco, PLC by 53.0% in the second quarter. Bank of Montreal Can now owns 535,735 shares of the utilities provider’s stock valued at $33,656,000 after buying an additional 185,620 shares during the period. Hedge funds and other institutional investors own 5.68% of the company’s stock.
Shares of National Grid Transco, PLC (NYSE NGG) opened at 63.33 on Thursday. The stock’s 50 day moving average is $62.99 and its 200 day moving average is $66.69. The stock has a market capitalization of $43.59 billion, a PE ratio of 4.34 and a beta of 0.45. National Grid Transco, PLC has a 52 week low of $60.08 and a 52 week high of $79.56.
The business also recently announced a special dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, June 2nd will be given a $1.872 dividend. This is an increase from National Grid Transco, PLC’s previous special dividend of $0.93. The ex-dividend date of this dividend is Wednesday, May 31st.
Several research analysts have weighed in on the company. Berenberg Bank upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub upgraded National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Monday, July 24th. HSBC Holdings plc upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Finally, UBS AG reiterated a “sell” rating on shares of National Grid Transco, PLC in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price 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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