Rhumbline Advisers Grows Stake in National Grid Transco, PLC (NYSE:NGG)

Rhumbline Advisers grew its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,184 shares of the utilities provider’s stock after purchasing an additional 328 shares during the quarter. Rhumbline Advisers’ holdings in National Grid Transco were worth $1,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NGG. Whipplewood Advisors LLC acquired a new stake in National Grid Transco during the fourth quarter worth $25,000. Brown Brothers Harriman & Co. increased its position in shares of 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 purchasing an additional 198 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of National Grid Transco by 145.6% in the fourth quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after buying an additional 415 shares during the last quarter. Rothschild Investment LLC grew its position in National Grid Transco by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock valued at $43,000 after buying an additional 192 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in National Grid Transco during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Price Performance

NGG opened at $71.00 on Friday. National Grid Transco, PLC has a fifty-two week low of $53.65 and a fifty-two week high of $73.03. The firm has a market cap of $69.47 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 6.14 and a beta of 0.63. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The company’s 50-day moving average price is $71.71 and its 200 day moving average price is $64.91.

National Grid Transco Cuts Dividend

The company 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 $2.0345 dividend. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid Transco’s dividend payout ratio (DPR) is presently 78.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NGG. Barclays reissued an “overweight” rating on shares of National Grid Transco in a report on Friday, May 16th. UBS Group lowered shares of National Grid Transco from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 29th. Sanford C. Bernstein upgraded shares of National Grid Transco from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered National Grid Transco from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.40.

About National Grid Transco

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.