National Grid Transco, PLC $NGG Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its stake in National Grid Transco, PLC (NYSE:NGG) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 731,561 shares of the utilities provider’s stock after selling 27,234 shares during the quarter. Cullen Capital Management LLC owned approximately 0.07% of National Grid Transco worth $53,163,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. AQR Capital Management LLC purchased a new position in National Grid Transco in the 1st quarter worth about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of National Grid Transco by 79.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock worth $2,360,000 after buying an additional 15,873 shares during the period. NewEdge Advisors LLC increased its position in shares of National Grid Transco by 12.5% in the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock worth $575,000 after acquiring an additional 971 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of National Grid Transco by 11.1% during the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after acquiring an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of National Grid Transco during the second quarter valued at approximately $221,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NGG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. National Bankshares set a $85.50 target price on National Grid Transco in a research report on Friday, December 12th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. BNP Paribas Exane downgraded National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Finally, Morgan Stanley assumed coverage on National Grid Transco in a research report on Friday, December 12th. They set an “overweight” rating and a $85.50 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, National Grid Transco has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Stock Up 1.9%

Shares of NYSE:NGG opened at $87.85 on Thursday. National Grid Transco, PLC has a 1 year low of $59.35 and a 1 year high of $89.13. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $78.78 and a 200 day simple moving average of $75.09.

National Grid Transco Dividend Announcement

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

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.