Sound Income Strategies LLC Has $58,000 Position in National Grid Transco, PLC (NYSE:NGG)

Sound Income Strategies LLC raised its holdings in National Grid Transco, PLC (NYSE:NGGFree Report) by 197.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 877 shares of the utilities provider’s stock after acquiring an additional 582 shares during the quarter. Sound Income Strategies LLC’s holdings in National Grid Transco were worth $58,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NGG. Allspring Global Investments Holdings LLC increased its stake in shares of National Grid Transco by 7.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,806 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 346 shares during the last quarter. Principal Securities Inc. increased its stake in shares of National Grid Transco by 13.6% during the 4th quarter. Principal Securities Inc. now owns 12,248 shares of the utilities provider’s stock worth $728,000 after purchasing an additional 1,464 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of National Grid Transco during the 4th quarter worth about $239,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of National Grid Transco during the 4th quarter worth about $201,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of National Grid Transco by 31.0% during the 4th quarter. Global Retirement Partners LLC now owns 4,292 shares of the utilities provider’s stock worth $255,000 after buying an additional 1,016 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Performance

Shares of National Grid Transco stock opened at $71.64 on Wednesday. The company has a 50 day moving average of $71.49 and a 200-day moving average of $64.82. National Grid Transco, PLC has a 1-year low of $53.65 and a 1-year high of $73.03. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $70.10 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 6.18 and a beta of 0.63.

National Grid Transco Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be issued a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid Transco’s dividend payout ratio (DPR) is presently 78.27%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BNP Paribas raised shares of National Grid Transco from an “outperform” rating to a “strong-buy” rating in a report on Thursday, May 29th. Wall Street Zen downgraded shares of National Grid Transco from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a report on Tuesday, May 6th. Royal Bank Of Canada downgraded shares of National Grid Transco from an “outperform” rating to a “sector perform” rating in a report on Wednesday, May 28th. Finally, BNP Paribas Exane assumed coverage on shares of National Grid Transco in a report on Thursday, May 29th. They issued an “outperform” rating and a $80.40 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.40.

Read Our Latest Report on NGG

About National Grid Transco

(Free Report)

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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

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