Rockefeller Capital Management L.P. Acquires 6,486 Shares of National Grid Transco, PLC $NGG

Rockefeller Capital Management L.P. grew its holdings in National Grid Transco, PLC (NYSE:NGG) by 67.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,166 shares of the utilities provider’s stock after buying an additional 6,486 shares during the period. Rockefeller Capital Management L.P.’s holdings in National Grid Transco were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in NGG. Bank of America Corp DE lifted its holdings in shares of National Grid Transco by 3.4% in the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after acquiring an additional 155,118 shares during the last quarter. Federated Hermes Inc. increased its stake in National Grid Transco by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock worth $245,154,000 after acquiring an additional 9,928 shares during the last quarter. Milford Funds Ltd. purchased a new stake in National Grid Transco during the fourth quarter valued at approximately $183,208,000. Royal Bank of Canada raised its position in National Grid Transco by 8.3% during the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after purchasing an additional 176,840 shares during the period. Finally, Morgan Stanley lifted its stake in shares of National Grid Transco by 1.4% in the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after purchasing an additional 29,832 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGG has been the subject of a number of recent research reports. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. The Goldman Sachs Group reissued a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd. Finally, UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $85.50.

National Grid Transco Price Performance

Shares of NGG stock opened at $80.19 on Thursday. National Grid Transco, PLC has a 52-week low of $67.51 and a 52-week high of $94.64. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. The stock has a 50 day moving average price of $83.92 and a 200 day moving average price of $84.58.

National Grid Transco Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be given a dividend of $2.1738 per share. 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.