First Pacific Financial Purchases 8,080 Shares of National Grid Transco, PLC $NGG

First Pacific Financial raised its holdings in National Grid Transco, PLC (NYSE:NGG) by 69.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,747 shares of the utilities provider’s stock after acquiring an additional 8,080 shares during the period. First Pacific Financial’s holdings in National Grid Transco were worth $1,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC lifted its position in National Grid Transco by 88.2% during the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in National Grid Transco in the 3rd quarter worth approximately $25,000. Cullen Frost Bankers Inc. grew its stake in National Grid Transco by 88.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of National Grid Transco in the 3rd quarter worth $28,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Down 1.1%

NGG stock opened at $82.86 on Wednesday. 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 one year low of $67.51 and a one year high of $94.64. The company’s 50 day moving average price is $84.04 and its two-hundred day moving average price is $84.54.

National Grid Transco Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, July 23rd. Investors of record on Friday, May 29th will be issued a dividend of $2.1738 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a dividend yield of 533.0%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NGG shares. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. UBS Group reissued a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $85.50.

National Grid Transco 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.