11,786 Shares in National Grid Transco, PLC $NGG Bought by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors LLC initiated a position in National Grid Transco during the third quarter, buying 11,786 shares valued at approximately $894,000.
• Other institutional investors also adjusted their holdings, while institutions collectively owned 4.68% of the stock.
• Analyst sentiment is mixed but leans to “Hold”: four analysts rate NGG a Buy, eight a Hold, and two a Sell. The consensus price target is $80.33.

Provenance Wealth Advisors LLC purchased a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,786 shares of the utilities provider's stock, valued at approximately $894,000.

Several other institutional investors have also added to or reduced their stakes in the company. Signature Equity Partners LLC boosted its position in shares of National Grid Transco by 80.1% in the third quarter. Signature Equity Partners LLC now owns 598 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 266 shares during the period. Hennessy Advisors Inc. grew its stake in shares of National Grid Transco by 2.5% in the third quarter. Hennessy Advisors Inc. now owns 198,844 shares of the utilities provider's stock valued at $15,076,000 after acquiring an additional 4,800 shares in the last quarter. Profund Advisors LLC grew its stake in shares of National Grid Transco by 12.1% in the third quarter. Profund Advisors LLC now owns 8,461 shares of the utilities provider's stock valued at $642,000 after acquiring an additional 911 shares in the last quarter. Vise Technologies Inc. increased its position in National Grid Transco by 22.2% during the third quarter. Vise Technologies Inc. now owns 34,007 shares of the utilities provider's stock worth $2,578,000 after acquiring an additional 6,175 shares during the period. Finally, Cidel Asset Management Inc. increased its position in National Grid Transco by 4.0% during the third quarter. Cidel Asset Management Inc. now owns 64,280 shares of the utilities provider's stock worth $4,874,000 after acquiring an additional 2,490 shares during the period. 4.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGG. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a research note on Thursday, October 15th. Wall Street Zen lowered shares of National Grid Transco from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Sanford C. Bernstein restated a "buy" rating on shares of National Grid Transco in a research report on Friday, September 25th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of National Grid Transco in a report on Monday, October 5th. Finally, UBS Group reiterated a "sell" rating on shares of National Grid Transco in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $80.33.

National Grid Transco Price Performance

NGG opened at $85.18 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco, PLC has a 52-week low of $73.37 and a 52-week high of $94.64. The business's fifty day moving average is $78.52 and its 200-day moving average is $83.31.

National Grid Transco Company Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company headquartered in the United Kingdom. It owns and operates electricity transmission networks in Great Britain and manages infrastructure that supports the movement of electricity from power stations and other generation sources to regional distribution networks.

Through its U.S. operations, National Grid provides regulated electricity and natural gas distribution services to residential, commercial and industrial customers in parts of New York and Massachusetts.

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