Bleakley Financial Group LLC Acquires 7,488 Shares of National Grid Transco, PLC $NGG

Bleakley Financial Group LLC lifted its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 54.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,364 shares of the utilities provider’s stock after acquiring an additional 7,488 shares during the quarter. Bleakley Financial Group LLC’s holdings in National Grid Transco were worth $1,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NGG. Bank of America Corp DE grew its stake in National Grid Transco by 3.4% in the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after purchasing an additional 155,118 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of National Grid Transco by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock valued at $151,855,000 after acquiring an additional 48,048 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of National Grid Transco by 1.9% during the third quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock valued at $146,150,000 after acquiring an additional 36,984 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of National Grid Transco by 3.4% during the third quarter. Envestnet Asset Management Inc. now owns 1,835,914 shares of the utilities provider’s stock valued at $133,416,000 after acquiring an additional 61,168 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of National Grid Transco by 20.3% during the second quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock valued at $124,395,000 after acquiring an additional 282,085 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Price Performance

NYSE NGG opened at $84.89 on Friday. The stock’s 50 day moving average is $86.26 and its 200 day moving average is $83.67. 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, PLC has a 12 month low of $67.51 and a 12 month high of $94.64.

National Grid Transco Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th will be paid a $2.1738 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a yield of 512.0%.

Analysts Set New Price Targets

Several research firms recently commented on NGG. Jefferies Financial Group reiterated a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th. The Goldman Sachs Group restated a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $85.50.

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.