Abel Hall LLC Takes $271,000 Position in National Grid Transco, PLC $NGG

Key Points

• Abel Hall LLC acquired a new stake in National Grid Transco, PLC, purchasing 3,639 shares valued at approximately $271,000 during the 2nd quarter.
• Several institutional investors have increased their holdings in National Grid, with Allspring Global Investments raising its position by 97.3%, now owning 9,481 shares worth $624,000.
• National Grid currently has a consensus rating of Moderate Buy with a target price of $80.40, following various ratings adjustments from research firms.

Abel Hall LLC acquired a new stake in National Grid Transco, PLC (NYSE:NGG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,639 shares of the utilities provider's stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in National Grid Transco during the first quarter worth about $28,000. Cambridge Investment Research Advisors Inc. lifted its position in National Grid Transco by 3.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock worth $907,000 after buying an additional 500 shares during the period. Integrity Alliance LLC. purchased a new position in National Grid Transco during the first quarter worth about $308,000. Kingswood Wealth Advisors LLC lifted its position in National Grid Transco by 25.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock worth $398,000 after buying an additional 1,231 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in National Grid Transco by 97.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock worth $624,000 after buying an additional 4,675 shares during the period. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on NGG. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a research report on Wednesday. Zacks Research downgraded National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, National Grid Transco currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Price Performance

Shares of NGG opened at $73.64 on Thursday. The firm has a market cap of $73.07 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.67 and a beta of 0.70. The stock has a 50 day moving average of $71.26 and a 200-day moving average of $70.83. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82.

National Grid Transco Profile

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.

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