Perpetual Ltd Purchases New Position in National Grid Transco, PLC $NGG

Key Points

• Perpetual Ltd initiated a new position in National Grid Transco (NYSE:NGG) in Q4, buying 30,340 shares worth about $2.35 million per its Form 13F filing.
• Analysts hold a mixed view: NGG's consensus rating is "Hold" with an average price target of $83.80 (3 Buys, 6 Holds, 2 Sells).
• The stock opened at $87.97, trading within a 52-week range of $62.13–$94.64 (50-day SMA $88.28, 200-day SMA $80.31), and institutional/hedge fund ownership is roughly 4.68%.

Perpetual Ltd acquired a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 30,340 shares of the utilities provider's stock, valued at approximately $2,347,000.

Other institutional investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in National Grid Transco in the third quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of National Grid Transco in the 3rd quarter valued at $28,000. Salomon & Ludwin LLC increased its position in shares of National Grid Transco by 4,218.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider's stock valued at $35,000 after buying an additional 464 shares in the last quarter. ESL Trust Services LLC raised its stake in National Grid Transco by 71.4% during the 3rd quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider's stock worth $35,000 after buying an additional 200 shares during the period. Finally, Ancora Advisors LLC bought a new position in National Grid Transco during the third quarter worth about $36,000. Institutional investors and hedge funds own 4.68% of the company's stock.

National Grid Transco Price Performance

NYSE:NGG opened at $87.97 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. National Grid Transco, PLC has a 52-week low of $62.13 and a 52-week high of $94.64. The stock has a 50-day simple moving average of $88.28 and a 200 day simple moving average of $80.31.

Wall Street Analysts Forecast Growth

NGG has been the subject of a number of research analyst reports. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a research note on Thursday, February 5th. National Bank Financial set a $85.50 price objective on National Grid Transco in a report on Friday, December 12th. Jefferies Financial Group reiterated a "hold" rating on shares of National Grid Transco in a research report on Wednesday, March 18th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a report on Monday, January 26th. Finally, UBS Group reaffirmed a "sell" rating on shares of National Grid Transco in a research note on Monday, March 16th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, National Grid Transco has an average rating of "Hold" and an average price target of $83.80.

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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