Gateway Wealth Partners LLC Takes Position in National Grid Transco, PLC $NGG

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its stake in National Grid Transco by 88.2% during the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of National Grid Transco in the third quarter worth $25,000. Cullen Frost Bankers Inc. boosted its position in shares of National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of National Grid Transco in the third quarter worth $28,000. Finally, Hilton Head Capital Partners LLC purchased a new position in shares of National Grid Transco during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

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

National Grid Transco Stock Performance

Shares of NGG stock opened at $80.31 on Friday. The firm has a fifty day moving average of $82.30 and a 200-day moving average of $85.30. National Grid Transco, PLC has a 52-week low of $67.51 and a 52-week high of $94.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76.

National Grid Transco Announces Dividend

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

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.