National Grid Transco, PLC (NYSE:NGG) Announces $2.17 Dividend

National Grid Transco, PLC (NYSE:NGG) announced a dividend on Thursday, May 14th. Stockholders of record on Friday, May 29th will be given a dividend of 2.1738 per share by the utilities provider on Thursday, July 23rd. This represents a dividend yield of 542.0%. The ex-dividend date of this dividend is Friday, May 29th.

National Grid Transco has decreased its dividend payment by an average of 0.0%per year over the last three years. National Grid Transco has a payout ratio of 77.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect National Grid Transco to earn $6.59 per share next year, which means the company should continue to be able to cover its $4.30 annual dividend with an expected future payout ratio of 65.3%.

National Grid Transco Stock Up 1.2%

NYSE NGG opened at $87.66 on Wednesday. National Grid Transco has a 52-week low of $67.51 and a 52-week high of $94.64. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average of $86.48 and a 200-day moving average of $83.55.

Institutional Trading of National Grid Transco

Hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its position in shares of National Grid Transco by 13.6% in the first quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 129 shares during the period. Natural Investments LLC increased its position in shares of National Grid Transco by 1.2% in the fourth quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock valued at $898,000 after acquiring an additional 133 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of National Grid Transco by 14.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 137 shares during the period. Cozad Asset Management Inc. increased its position in shares of National Grid Transco by 4.4% in the third quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock valued at $241,000 after acquiring an additional 140 shares during the period. Finally, Root Financial Partners LLC increased 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 during the period. 4.68% of the stock is owned by institutional investors.

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.