Gateway Wealth Partners LLC Invests $657,000 in National Grid Transco, PLC $NGG

Gateway Wealth Partners LLC bought a new position in National Grid Transco, PLC (NYSE:NGG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,768 shares of the utilities provider’s stock, valued at approximately $657,000.

A number of other large investors have also bought and sold shares of the business. Entropy Technologies LP increased its holdings in National Grid Transco by 167.8% during the 1st quarter. Entropy Technologies LP now owns 31,905 shares of the utilities provider’s stock valued at $2,699,000 after purchasing an additional 19,993 shares in the last quarter. Bollard Group LLC boosted its stake in National Grid Transco by 14.8% in the first quarter. Bollard Group LLC now owns 26,342 shares of the utilities provider’s stock worth $2,229,000 after purchasing an additional 3,387 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in National Grid Transco in the first quarter worth $212,000. GC Wealth Management RIA LLC grew its holdings in shares of National Grid Transco by 27.1% during the first quarter. GC Wealth Management RIA LLC now owns 10,709 shares of the utilities provider’s stock worth $906,000 after purchasing an additional 2,282 shares during the last quarter. Finally, Compound Planning Inc. grew its holdings in shares of National Grid Transco by 3.0% during the first quarter. Compound Planning Inc. now owns 14,947 shares of the utilities provider’s stock worth $1,265,000 after purchasing an additional 433 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Performance

National Grid Transco stock opened at $80.31 on Friday. The business’s 50-day simple moving average is $82.30 and its 200 day simple moving average is $85.30. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. National Grid Transco, PLC has a 12-month low of $67.51 and a 12-month high of $94.64.

National Grid Transco Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were given a dividend of $2.1738 per share. The ex-dividend date was Friday, May 29th. This represents a yield of 533.0%.

Wall Street Analyst Weigh In

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

National Grid Transco Company 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.