Fisher Asset Management LLC Acquires 8,557 Shares of National Grid Transco, PLC $NGG

Fisher Asset Management LLC increased its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 58.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,153 shares of the utilities provider’s stock after purchasing an additional 8,557 shares during the quarter. Fisher Asset Management LLC’s holdings in National Grid Transco were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Nuveen LLC purchased a new position in National Grid Transco in the 1st quarter worth about $32,015,000. Envestnet Asset Management Inc. grew its stake in shares of National Grid Transco by 29.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,774,746 shares of the utilities provider’s stock worth $132,059,000 after acquiring an additional 402,329 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of National Grid Transco by 23.0% during the second quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock valued at $151,916,000 after purchasing an additional 382,392 shares during the last quarter. Bank of New York Mellon Corp lifted its position in National Grid Transco by 398.9% during the second quarter. Bank of New York Mellon Corp now owns 347,391 shares of the utilities provider’s stock valued at $25,849,000 after purchasing an additional 277,756 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in National Grid Transco by 22.7% in the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider’s stock worth $91,176,000 after purchasing an additional 256,645 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Trading Down 0.7%

Shares of NGG opened at $75.38 on Friday. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $78.49. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The business has a 50-day simple moving average of $75.52 and a two-hundred day simple moving average of $72.92.

National Grid Transco Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Friday, November 21st will be issued a dividend of $1.0657 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a yield of 284.0%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NGG shares. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Finally, BNP Paribas lowered shares of National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.40.

National Grid Transco Profile

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.