National Grid Transco, PLC (NYSE:NGG) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,228 shares of the utilities provider’s stock after selling 1,388 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in National Grid Transco were worth $3,361,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Gradient Investments LLC increased its position in National Grid Transco by 2.0% during the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider’s stock worth $535,000 after buying an additional 163 shares during the period. IFP Advisors Inc increased its position in National Grid Transco by 20.0% during the fourth quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider’s stock worth $62,000 after buying an additional 174 shares during the period. Rothschild Investment LLC increased its position in National Grid Transco by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after buying an additional 192 shares during the period. Verdence Capital Advisors LLC increased its position in National Grid Transco by 0.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 23,925 shares of the utilities provider’s stock worth $1,422,000 after buying an additional 196 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in National Grid Transco by 67.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock worth $29,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

NGG has been the topic of several research analyst reports. Wall Street Zen lowered National Grid Transco from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. UBS Group lowered National Grid Transco from a “buy” rating to a “neutral” rating in a report on Tuesday, April 29th. Royal Bank Of Canada lowered National Grid Transco from an “outperform” rating to a “sector perform” rating in a report on Wednesday, May 28th. Barclays reissued an “overweight” rating on shares of National Grid Transco in a report on Friday, May 16th. Finally, Sanford C. Bernstein raised National Grid Transco from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Transco Trading Down 0.3%

NYSE:NGG opened at $70.80 on Friday. The firm has a market cap of $69.28 billion, a P/E ratio of 13.62, a PEG ratio of 6.13 and a beta of 0.63. 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 stock’s 50 day simple moving average is $71.76 and its 200-day simple moving average is $64.98. National Grid Transco, PLC has a 12-month low of $53.65 and a 12-month high of $73.03.

National Grid Transco Cuts Dividend

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

National Grid Transco Profile

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.