Perpetual Ltd Buys New Shares in National Grid Transco, PLC $NGG

Perpetual Ltd purchased a new position in shares of National Grid Transco, PLC (NYSE:NGG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,340 shares of the utilities provider’s stock, valued at approximately $2,347,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NGG. SG Americas Securities LLC grew its holdings in shares of National Grid Transco by 47,478.9% in the 4th quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider’s stock valued at $69,041,000 after acquiring an additional 890,704 shares in the last quarter. Bank of America Corp DE boosted its position in National Grid Transco by 21.5% during the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after purchasing an additional 814,248 shares during the last quarter. Cullen Capital Management LLC acquired a new position in National Grid Transco during the second quarter valued at approximately $56,462,000. Bank of Montreal Can grew its stake in National Grid Transco by 67.4% in the third quarter. Bank of Montreal Can now owns 1,669,191 shares of the utilities provider’s stock valued at $121,300,000 after purchasing an additional 672,050 shares in the last quarter. Finally, Causeway Capital Management LLC grew its stake in National Grid Transco by 112.4% in the third quarter. Causeway Capital Management LLC now owns 671,143 shares of the utilities provider’s stock valued at $48,772,000 after purchasing an additional 355,149 shares in the last quarter. 4.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Zacks Research cut shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of National Grid Transco in a research report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $83.80.

National Grid Transco Stock Performance

NYSE:NGG opened at $87.97 on Friday. National Grid Transco, PLC has a 12-month low of $62.13 and a 12-month high of $94.64. The stock’s 50 day moving average price is $88.28 and its two-hundred day moving average price is $80.31. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97.

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.