Raleigh Capital Management Inc. Sells 10,334 Shares of National Grid Transco, PLC $NGG

Raleigh Capital Management Inc. cut its holdings in National Grid Transco, PLC (NYSE:NGG) by 30.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,593 shares of the utilities provider’s stock after selling 10,334 shares during the quarter. Raleigh Capital Management Inc.’s holdings in National Grid Transco were worth $1,996,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Root Financial Partners LLC lifted its position 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 worth $25,000 after buying an additional 149 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in National Grid Transco in the 3rd quarter valued at about $25,000. Cullen Frost Bankers Inc. increased its position in National Grid Transco by 88.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of National Grid Transco in the third quarter worth about $28,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco in the fourth quarter worth about $34,000. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Down 0.0%

Shares of NYSE NGG opened at $82.82 on Friday. The company’s 50 day simple moving average is $83.84 and its 200 day simple moving average is $84.62. National Grid Transco, PLC has a fifty-two week low of $67.51 and a fifty-two 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 Dividend Announcement

The firm also recently announced a dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th will be given a dividend of $2.1738 per share. The ex-dividend date is Friday, May 29th. This represents a dividend yield of 533.0%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. The Goldman Sachs Group restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, March 23rd. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $85.50.

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.