Cullen Capital Management LLC Has $53.16 Million Stock Holdings in National Grid Transco, PLC $NGG

Cullen Capital Management LLC trimmed its holdings in National Grid Transco, PLC (NYSE:NGG) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 731,561 shares of the utilities provider’s stock after selling 27,234 shares during the quarter. Cullen Capital Management LLC’s holdings in National Grid Transco were worth $53,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in National Grid Transco in the second quarter worth $31,000. Salomon & Ludwin LLC boosted its stake in shares of National Grid Transco by 4,218.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 464 shares in the last quarter. ESL Trust Services LLC increased its holdings in shares of National Grid Transco by 71.4% during the 3rd quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Huntington National Bank raised its stake in shares of National Grid Transco by 41.1% in the 2nd quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 146 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in National Grid Transco by 100.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 526 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Up 1.9%

Shares of National Grid Transco stock opened at $87.85 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a fifty day moving average price of $78.78 and a two-hundred day moving average price of $75.09. National Grid Transco, PLC has a fifty-two week low of $59.35 and a fifty-two week high of $89.13.

National Grid Transco Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, January 13th. Investors of record on Friday, November 21st were given a dividend of $1.0657 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a yield of 284.0%.

Analysts Set New Price Targets

NGG has been the topic of several analyst reports. National Bankshares set a $85.50 price target on National Grid Transco in a report on Friday, December 12th. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, Morgan Stanley initiated coverage on National Grid Transco in a research note on Friday, December 12th. They issued an “overweight” rating and a $85.50 price objective on the stock. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.80.

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.