Bessemer Group Inc. Has $62,000 Stake in National Grid Transco, PLC (NYSE:NGG)

Bessemer Group Inc. grew its stake in National Grid Transco, PLC (NYSE:NGG) by 216.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 960 shares of the utilities provider’s stock after buying an additional 657 shares during the period. Bessemer Group Inc.’s holdings in National Grid Transco were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Keudell Morrison Wealth Management grew its position in National Grid Transco by 18.2% in the 1st quarter. Keudell Morrison Wealth Management now owns 8,967 shares of the utilities provider’s stock worth $588,000 after purchasing an additional 1,383 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in National Grid Transco by 122.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,904 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 5,449 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in National Grid Transco by 17.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,363 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 640 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in National Grid Transco by 3.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider’s stock worth $907,000 after purchasing an additional 500 shares during the last quarter. Finally, Good Steward Wealth Advisors LLC acquired a new stake in National Grid Transco in the 1st quarter worth $425,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BNP Paribas upgraded shares of National Grid Transco from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 29th. Royal Bank Of Canada lowered shares of National Grid Transco from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, May 28th. Wall Street Zen lowered shares of National Grid Transco from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Finally, BNP Paribas Exane assumed coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They set an “outperform” rating and a $80.40 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.40.

National Grid Transco Trading Up 1.5%

Shares of NGG stock opened at $71.67 on Friday. National Grid Transco, PLC has a 12-month low of $54.24 and a 12-month high of $74.58. The company has a market capitalization of $70.12 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.65 and a beta of 0.63. The firm has a 50-day moving average price of $71.99 and a 200 day moving average price of $65.74. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

National Grid Transco Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be issued a dividend of $2.0345 per share. This represents a yield of 4.7%. The ex-dividend date is Friday, May 30th. National Grid Transco’s dividend payout ratio is currently 78.27%.

About National Grid Transco

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.