Brandes Investment Partners LP Acquires Shares of 780,474 National Grid Transco, PLC $NGG

Brandes Investment Partners LP bought a new stake in shares of National Grid Transco, PLC (NYSE:NGG) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 780,474 shares of the utilities provider’s stock, valued at approximately $60,372,000.

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC raised its position in shares of National Grid Transco by 88.2% during the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after buying an additional 149 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of National Grid Transco during the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. raised its position in shares of 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 purchased a new stake in shares of National Grid Transco during the 3rd quarter valued at about $28,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of National Grid Transco during the 4th quarter valued at about $34,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Transco Stock Up 1.0%

National Grid Transco stock opened at $81.01 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco, PLC has a 1-year low of $67.51 and a 1-year high of $94.64. The company’s 50-day moving average is $85.85 and its 200 day moving average is $83.86.

National Grid Transco Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NGG shares. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “hold” rating on shares of National Grid Transco in a research report on Wednesday, March 18th. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $85.50.

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.