ABC Arbitrage SA Has $17.41 Million Stock Position in National Grid Transco, PLC $NGG

ABC Arbitrage SA raised its stake in National Grid Transco, PLC (NYSE:NGG) by 55.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,559 shares of the utilities provider’s stock after buying an additional 85,013 shares during the quarter. National Grid Transco accounts for about 1.7% of ABC Arbitrage SA’s portfolio, making the stock its 18th largest position. ABC Arbitrage SA’s holdings in National Grid Transco were worth $17,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGG. HBK Sorce Advisory LLC boosted its position in shares of National Grid Transco by 1.9% during the third quarter. HBK Sorce Advisory LLC now owns 7,535 shares of the utilities provider’s stock worth $555,000 after purchasing an additional 137 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in National Grid Transco by 14.1% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider’s stock worth $81,000 after buying an additional 137 shares during the period. Carr Financial Group Corp grew its stake in National Grid Transco by 2.6% in the third quarter. Carr Financial Group Corp now owns 5,634 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 141 shares during the period. Huntington National Bank increased its holdings in shares of National Grid Transco by 41.1% in the second quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 146 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its position in shares of National Grid Transco by 3.4% during the second quarter. Beacon Pointe Advisors LLC now owns 4,671 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 152 shares during the period. Institutional investors own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NGG shares. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. National Bankshares set a $85.50 target price on shares of National Grid Transco in a research note on Friday, December 12th. BNP Paribas Exane downgraded National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $83.80.

National Grid Transco Price Performance

NGG stock opened at $88.75 on Wednesday. National Grid Transco, PLC has a 1-year low of $59.35 and a 1-year high of $89.22. The business’s 50 day simple moving average is $79.77 and its 200 day simple moving average is $75.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90.

National Grid Transco Company Profile

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.