62,717 Shares in National Grid Transco, PLC $NGG Bought by Ramirez Asset Management Inc.

Key Points

• Ramirez Asset Management opened a new position in National Grid Transco (NYSE: NGG), buying 62,717 shares valued at about $4.56 million during the third quarter.
• Several large institutions also increased their NGG stakes—Bank of America boosted its holding to 4,596,387 shares (up 21.5%), while JPMorgan, Raymond James and BNY Mellon all added sizable positions; the article reports institutional ownership at 4.68%.
• Analysts show mixed views but a consensus of "Moderate Buy" with a target price of $83.80; NGG opened at $89.84, trading above the consensus target.

Ramirez Asset Management Inc. acquired a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,717 shares of the utilities provider's stock, valued at approximately $4,558,000.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in shares of 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 worth $342,017,000 after buying an additional 814,248 shares during the period. Cullen Capital Management LLC acquired a new position in National Grid Transco in the 2nd quarter valued at $56,462,000. JPMorgan Chase & Co. increased its stake in National Grid Transco by 23.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider's stock valued at $151,916,000 after buying an additional 382,392 shares during the period. Raymond James Financial Inc. raised its position in National Grid Transco by 20.3% during the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider's stock worth $124,395,000 after buying an additional 282,085 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of National Grid Transco by 398.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 347,391 shares of the utilities provider's stock worth $25,849,000 after acquiring an additional 277,756 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of recent analyst reports. BNP Paribas Exane lowered shares of National Grid Transco from an "outperform" rating to an "underperform" rating in a research note on Monday, November 24th. National Bank Financial set a $85.50 target price on National Grid Transco in a research report on Friday, December 12th. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a research note on Thursday, February 5th. Zacks Research upgraded National Grid Transco from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Finally, Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $83.80.

National Grid Transco Stock Performance

NGG stock opened at $89.84 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. The company's 50-day moving average price is $85.37 and its 200 day moving average price is $78.03. National Grid Transco, PLC has a 52 week low of $60.13 and a 52 week high of $94.64.

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.

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