Miller Howard Investments Inc. NY Purchases 22,898 Shares of National Grid Transco, PLC $NGG

Miller Howard Investments Inc. NY boosted its holdings in National Grid Transco, PLC (NYSE:NGG) by 23.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 120,490 shares of the utilities provider’s stock after purchasing an additional 22,898 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in National Grid Transco were worth $10,193,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC lifted its position in shares of National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 149 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of National Grid Transco during the third quarter worth about $25,000. Cullen Frost Bankers Inc. raised its stake in 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 purchasing an additional 162 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in National Grid Transco during the 3rd quarter valued at approximately $28,000. Finally, Hilton Head Capital Partners LLC purchased a new position in National Grid Transco in the 4th quarter worth approximately $34,000. 4.68% of the stock is owned by institutional investors.

National Grid Transco Price Performance

Shares of NYSE:NGG opened at $81.66 on Wednesday. The firm has a fifty day simple moving average of $84.52 and a two-hundred day simple moving average of $84.26. 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.

National Grid Transco Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NGG shares. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Jefferies Financial Group reaffirmed a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th. Finally, Zacks Research cut shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, National Grid Transco presently has an average rating of “Reduce” and a consensus target price 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.