Raymond James Financial Inc. Purchases 256,645 Shares of National Grid Transco, PLC $NGG

Key Points

• Raymond James Financial Inc. increased its stake in National Grid Transco by 22.7%, now owning over 1.3 million shares worth approximately $91.2 million.
• Several other institutional investors also increased their holdings in National Grid Transco, including Federated Hermes Inc., which raised its position by nearly 50% during the same period.
• Wall Street analysts have given mixed ratings for the stock, with a current consensus rating of "Moderate Buy" and an average price target of $80.40.

Raymond James Financial Inc. grew its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 22.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,389,661 shares of the utilities provider's stock after buying an additional 256,645 shares during the period. Raymond James Financial Inc. owned approximately 0.14% of National Grid Transco worth $91,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of National Grid Transco in the 1st quarter valued at $28,000. SJS Investment Consulting Inc. acquired a new position in shares of National Grid Transco in the 1st quarter valued at $29,000. Sound Income Strategies LLC grew its holdings in shares of National Grid Transco by 197.3% in the 1st quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock valued at $58,000 after buying an additional 582 shares during the period. Bessemer Group Inc. grew its holdings in shares of National Grid Transco by 216.8% in the 1st quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock valued at $62,000 after buying an additional 657 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in National Grid Transco in the 1st quarter worth $71,000. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Transco Stock Down 0.1%

NYSE:NGG traded down $0.0390 on Friday, hitting $71.3910. 435,376 shares of the company's stock were exchanged, compared to its average volume of 682,936. The firm has a 50-day moving average price of $71.68 and a 200-day moving average price of $68.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The company has a market cap of $70.84 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63.

Analyst Ratings Changes

NGG has been the subject of a number of research analyst reports. Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price for the company. Barclays reaffirmed an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Finally, Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.40.

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.