Fulton Bank N.A. Decreases Position in National Grid Transco, PLC $NGG

Fulton Bank N.A. lowered its stake in National Grid Transco, PLC (NYSE:NGG) by 28.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,634 shares of the utilities provider’s stock after selling 11,490 shares during the quarter. Fulton Bank N.A.’s holdings in National Grid Transco were worth $2,422,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NGG. Root Financial Partners LLC lifted its holdings in National Grid Transco by 88.2% in the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after buying an additional 149 shares during the period. Johnson Financial Group Inc. purchased a new stake in National Grid Transco in the third quarter worth about $25,000. Cullen Frost Bankers Inc. increased its position in National Grid Transco by 88.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $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 during the third quarter valued at $28,000. Finally, Hilton Head Capital Partners LLC purchased a new position in National Grid Transco in the fourth quarter worth about $34,000. 4.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NGG. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, National Grid Transco currently has a consensus rating of “Reduce” and a consensus price target of $85.50.

National Grid Transco Trading Down 3.2%

National Grid Transco stock opened at $80.19 on Thursday. The company has a 50 day moving average price of $83.92 and a 200-day moving average price of $84.58. National Grid Transco, PLC has a fifty-two week low of $67.51 and a fifty-two week high of $94.64. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.

National Grid Transco Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be issued a $2.1738 dividend. This represents a dividend yield of 533.0%. The ex-dividend date is Friday, May 29th.

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.