Raymond James Financial Inc. Has $91.18 Million Position in 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. boosted its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 22.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,389,661 shares of the utilities provider's stock after acquiring an additional 256,645 shares during the quarter. Raymond James Financial Inc. owned 0.14% of National Grid Transco worth $91,176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mayflower Financial Advisors LLC increased its stake in National Grid Transco by 4.0% in the first quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock valued at $239,000 after acquiring an additional 140 shares during the period. First Horizon Advisors Inc. increased its stake in National Grid Transco by 13.9% in the first quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock valued at $81,000 after acquiring an additional 150 shares during the period. Sage Rhino Capital LLC increased its stake in National Grid Transco by 3.6% in the first quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider's stock valued at $297,000 after acquiring an additional 156 shares during the period. Gradient Investments LLC grew its stake in National Grid Transco by 2.0% during the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock worth $535,000 after buying an additional 163 shares during the last quarter. Finally, Barry Investment Advisors LLC grew its stake in National Grid Transco by 1.9% during the first quarter. Barry Investment Advisors LLC now owns 9,246 shares of the utilities provider's stock worth $607,000 after buying an additional 172 shares during the last quarter. Institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NGG. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 29th. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen cut 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 given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, National Grid Transco presently has a consensus rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Trading Down 1.3%

NYSE NGG traded down $0.91 during trading hours on Monday, hitting $70.50. The company's stock had a trading volume of 320,861 shares, compared to its average volume of 677,036. The stock has a fifty day moving average of $71.66 and a 200 day moving average of $68.88. National Grid Transco, PLC has a twelve month low of $55.82 and a twelve month high of $74.82. The firm has a market capitalization of $69.95 billion, a P/E ratio of 13.56, a PEG ratio of 1.62 and a beta of 0.63. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

About National Grid Transco

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.