Royal Bank of Canada Increases Stake in National Grid Transco, PLC $NGG

Key Points

• The Royal Bank of Canada increased its stake in National Grid Transco, PLC by 7.9% in the first quarter, holding 1,880,406 shares valued at approximately $123.4 million by the end of the quarter.
• Several institutional investors, including Federated Hermes and D. E. Shaw & Co., also significantly increased their stakes in National Grid Transco during the same period, reflecting growing interest in the company.
• National Grid Transco's stock has recently seen varied analyst ratings, with a consensus rating of "Moderate Buy" and a target price of $80.40, despite experiencing a 3.7% decline in stock price.

Royal Bank of Canada raised its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,880,406 shares of the utilities provider's stock after buying an additional 137,541 shares during the period. Royal Bank of Canada owned approximately 0.19% of National Grid Transco worth $123,375,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Certior Financial Group LLC grew its stake in shares of National Grid Transco by 9.8% in the 1st quarter. Certior Financial Group LLC now owns 4,178 shares of the utilities provider's stock worth $274,000 after purchasing an additional 374 shares during the last quarter. Vident Advisory LLC lifted its stake in National Grid Transco by 31.1% in the first quarter. Vident Advisory LLC now owns 21,400 shares of the utilities provider's stock valued at $1,404,000 after acquiring an additional 5,073 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of National Grid Transco in the first quarter worth $71,000. Transamerica Financial Advisors LLC increased its position in National Grid Transco by 11.2% during the first quarter. Transamerica Financial Advisors LLC now owns 2,080 shares of the utilities provider's stock worth $137,000 after acquiring an additional 210 shares during the period. Finally, Ieq Capital LLC increased its position in National Grid Transco by 130.8% during the first quarter. Ieq Capital LLC now owns 8,017 shares of the utilities provider's stock worth $526,000 after acquiring an additional 4,544 shares during the period. Institutional investors and hedge funds own 4.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NGG shares. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. Zacks Research cut National Grid Transco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. BNP Paribas Exane assumed 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. Finally, Wall Street Zen downgraded National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Stock Down 0.0%

NYSE:NGG traded down $0.02 during trading hours on Monday, hitting $70.08. 148,504 shares of the company traded hands, compared to its average volume of 855,867. The company has a market cap of $69.54 billion, a PE ratio of 13.47, a PEG ratio of 1.59 and a beta of 0.68. National Grid Transco, PLC has a one year low of $55.82 and a one year high of $74.82. 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 firm's 50-day simple moving average is $71.23 and its 200-day simple moving average is $69.46.

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.