Cullen Capital Management LLC Takes Position in National Grid Transco, PLC $NGG

Cullen Capital Management LLC bought a new position in shares of National Grid Transco, PLC (NYSE:NGG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 758,795 shares of the utilities provider’s stock, valued at approximately $56,462,000. Cullen Capital Management LLC owned about 0.08% of National Grid Transco as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of National Grid Transco by 34.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 87,609 shares of the utilities provider’s stock worth $5,748,000 after buying an additional 22,596 shares in the last quarter. Nuveen LLC bought a new stake in National Grid Transco in the 1st quarter worth approximately $32,015,000. Vestmark Advisory Solutions Inc. increased its stake in National Grid Transco by 170.3% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 20,642 shares of the utilities provider’s stock worth $1,354,000 after acquiring an additional 13,006 shares during the last quarter. Ethic Inc. raised its holdings in shares of National Grid Transco by 2.2% during the 1st quarter. Ethic Inc. now owns 32,284 shares of the utilities provider’s stock worth $2,124,000 after acquiring an additional 710 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of National Grid Transco by 5.0% during the 1st quarter. American Century Companies Inc. now owns 171,919 shares of the utilities provider’s stock valued at $11,280,000 after acquiring an additional 8,117 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BNP Paribas Exane cut shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Zacks Research cut shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Morgan Stanley assumed coverage on shares of National Grid Transco in a report on Friday. They issued an “overweight” rating and a $85.50 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Finally, National Bankshares set a $85.50 price target on National Grid Transco in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.80.

National Grid Transco Stock Up 0.2%

NGG stock opened at $74.87 on Monday. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $78.49. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The company has a 50-day moving average price of $75.74 and a 200 day moving average price of $72.94.

National Grid Transco Dividend Announcement

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

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.