National Grid Transco, PLC $NGG Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in National Grid Transco, PLC (NYSE:NGG) by 10.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 55,270 shares of the utilities provider’s stock after selling 6,722 shares during the period. PNC Financial Services Group Inc.’s holdings in National Grid Transco were worth $4,676,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NGG. Bank of America Corp DE grew its stake in National Grid Transco by 3.4% in the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after purchasing an additional 155,118 shares in the last quarter. Federated Hermes Inc. increased its holdings in National Grid Transco by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock valued at $245,154,000 after buying an additional 9,928 shares during the last quarter. Milford Funds Ltd. acquired a new stake in National Grid Transco during the fourth quarter valued at approximately $183,208,000. Royal Bank of Canada raised its stake in National Grid Transco by 8.3% during the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after buying an additional 176,840 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in National Grid Transco by 1.4% during the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock worth $170,133,000 after buying an additional 29,832 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NGG shares. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Finally, Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, National Grid Transco presently has an average rating of “Reduce” and an average price target of $85.50.

National Grid Transco Trading Down 1.3%

Shares of NYSE NGG opened at $81.20 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. The firm’s 50-day moving average price is $82.60 and its two-hundred day moving average price is $85.29. National Grid Transco, PLC has a 52-week low of $67.51 and a 52-week high of $94.64.

National Grid Transco Announces Dividend

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

About National Grid Transco

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.