Royal Bank of Canada Sells 255,261 Shares of National Grid Transco, PLC $NGG

Royal Bank of Canada trimmed its position in National Grid Transco, PLC (NYSE:NGG) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,058,184 shares of the utilities provider’s stock after selling 255,261 shares during the quarter. Royal Bank of Canada’s holdings in National Grid Transco were worth $174,122,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NGG. Root Financial Partners LLC boosted 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 worth $25,000 after purchasing an additional 149 shares during the period. Johnson Financial Group Inc. bought a new position in National Grid Transco in the 3rd quarter worth $25,000. Cullen Frost Bankers Inc. grew its position in shares of National Grid Transco by 88.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. 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. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Trading Down 2.5%

Shares of NGG opened at $78.87 on Thursday. The company’s fifty day simple moving average is $82.42 and its 200-day simple moving average is $85.29. 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, PLC has a twelve month low of $67.51 and a twelve month high of $94.64.

National Grid Transco Announces Dividend

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

Analyst Upgrades and Downgrades

NGG has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Wall Street Zen upgraded National Grid Transco from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.