Causeway Capital Management LLC Grows Stock Position in National Grid Transco, PLC $NGG

Key Points

• Causeway Capital Management boosted its stake in National Grid Transco by 112.4% in Q3, adding 355,149 shares to hold 671,143 shares worth about $48.77 million (0.07% of the company).
• Analysts' consensus is a Moderate Buy with a consensus price target of $83.80, derived from 1 Strong Buy, 4 Buy, 4 Hold and 1 Sell ratings.
• NGG opened at $90.39, trading near its 12‑month high of $94.64, with a 50‑day SMA of $85.63, 200‑day SMA of $78.26, a quick ratio of 0.90 and debt‑to‑equity of 1.14.

Causeway Capital Management LLC grew its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 112.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 671,143 shares of the utilities provider's stock after acquiring an additional 355,149 shares during the quarter. Causeway Capital Management LLC owned 0.07% of National Grid Transco worth $48,772,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. HBK Sorce Advisory LLC raised its position in shares of National Grid Transco by 1.9% in the 3rd quarter. HBK Sorce Advisory LLC now owns 7,535 shares of the utilities provider's stock valued at $555,000 after purchasing an additional 137 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in National Grid Transco by 14.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider's stock worth $81,000 after purchasing an additional 137 shares in the last quarter. Cozad Asset Management Inc. grew its position in National Grid Transco by 4.4% during the 3rd quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider's stock worth $241,000 after purchasing an additional 140 shares during the last quarter. Carr Financial Group Corp increased its stake in National Grid Transco by 2.6% during the 3rd quarter. Carr Financial Group Corp now owns 5,634 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 141 shares in the last quarter. Finally, Huntington National Bank increased its stake in National Grid Transco by 41.1% during the 2nd quarter. Huntington National Bank now owns 501 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analysts Set New Price Targets

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

National Grid Transco Stock Up 0.6%

NGG stock opened at $90.39 on Tuesday. National Grid Transco, PLC has a 12 month low of $61.48 and a 12 month high of $94.64. The firm's fifty day simple moving average is $85.63 and its 200-day simple moving average is $78.26. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

About National Grid Transco

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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