Northern Trust Corp Increases Stake in National Grid Transco, PLC $NGG

Key Points

• Northern Trust Corp has increased its stake in National Grid Transco, PLC by 18.1%, acquiring an additional 114,300 shares, bringing its total holdings to 745,874 shares valued at approximately $48.94 million.
• National Grid Transco's stock has shown a 1.0% increase recently, with a current market price of $71.75 and a market capitalization of $71.19 billion.
• Analysts have mixed opinions on National Grid Transco, with ratings ranging from "Strong Buy" to "Hold," yielding a consensus rating of "Moderate Buy" and a target price of $80.40.

Northern Trust Corp grew its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 18.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 745,874 shares of the utilities provider's stock after purchasing an additional 114,300 shares during the quarter. Northern Trust Corp owned approximately 0.08% of National Grid Transco worth $48,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mayflower Financial Advisors LLC increased its position in shares of National Grid Transco by 4.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock valued at $239,000 after purchasing an additional 140 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of National Grid Transco by 13.9% during the 1st quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 150 shares during the last quarter. Sage Rhino Capital LLC increased its position in shares of National Grid Transco by 3.6% during the 1st quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider's stock valued at $297,000 after purchasing an additional 156 shares during the last quarter. Gradient Investments LLC increased its position in shares of National Grid Transco by 2.0% during the 1st quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock valued at $535,000 after purchasing an additional 163 shares during the last quarter. Finally, Barry Investment Advisors LLC increased its position in shares of National Grid Transco by 1.9% during the 1st quarter. Barry Investment Advisors LLC now owns 9,246 shares of the utilities provider's stock valued at $607,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Stock Performance

National Grid Transco stock traded down $0.24 during midday trading on Monday, hitting $70.61. The stock had a trading volume of 323,364 shares, compared to its average volume of 519,612. The firm's fifty day moving average is $71.66 and its two-hundred day moving average is $69.16. The company has a market capitalization of $70.07 billion, a PE ratio of 13.58, a P/E/G ratio of 1.60 and a beta of 0.68. National Grid Transco, PLC has a 52-week low of $55.82 and a 52-week high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NGG. Citigroup reaffirmed a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. BNP Paribas Exane began coverage on shares of National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price for the company. Barclays reissued an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.