Cidel Asset Management Inc. Buys 12,380 Shares of National Grid Transco, PLC $NGG

Key Points

• Cidel Asset Management Inc. increased its stake in National Grid Transco, PLC by 21.6%, acquiring an additional 12,380 shares, bringing its total holding to 69,633 shares valued at $5,181,000.
• Several other institutional investors also raised their positions in National Grid Transco, indicating growing interest in the stock from the investment community.
• Currently, National Grid Transco has a consensus rating of "Moderate Buy" from analysts, with a target price of $80.40.

Cidel Asset Management Inc. grew its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,633 shares of the utilities provider's stock after acquiring an additional 12,380 shares during the quarter. Cidel Asset Management Inc.'s holdings in National Grid Transco were worth $5,181,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of National Grid Transco by 52.4% during the first quarter. GAMMA Investing LLC now owns 1,873 shares of the utilities provider's stock valued at $123,000 after acquiring an additional 644 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in National Grid Transco by 9.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,418 shares of the utilities provider's stock valued at $1,865,000 after purchasing an additional 2,393 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in National Grid Transco by 5.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 95,318 shares of the utilities provider's stock valued at $6,254,000 after purchasing an additional 5,098 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in National Grid Transco by 25.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock valued at $398,000 after purchasing an additional 1,231 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in National Grid Transco by 26.7% in the first quarter. Blue Trust Inc. now owns 3,249 shares of the utilities provider's stock worth $213,000 after buying an additional 685 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NGG shares. Zacks Research cut shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research report on Wednesday, October 8th. One equities 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Stock Performance

Shares of NGG stock opened at $76.97 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The company has a 50 day moving average price of $71.68 and a 200-day moving average price of $71.37. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $77.01. The firm has a market capitalization of $76.37 billion, a PE ratio of 14.80, a P/E/G ratio of 1.74 and a beta of 0.70.

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.

Want to see what other hedge funds are holding NGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Grid Transco, PLC (NYSE:NGG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.