Cidel Asset Management Inc. Sells 9,306 Shares of National Grid Transco, PLC $NGG

Cidel Asset Management Inc. trimmed its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 13.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 60,327 shares of the utilities provider’s stock after selling 9,306 shares during the quarter. Cidel Asset Management Inc.’s holdings in National Grid Transco were worth $4,384,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Salomon & Ludwin LLC increased its stake in National Grid Transco by 4,218.2% in the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 464 shares during the last quarter. ESL Trust Services LLC boosted its stake in National Grid Transco by 71.4% in the third quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Huntington National Bank grew its position in National Grid Transco by 41.1% in the second quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 146 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in National Grid Transco by 100.0% during the second quarter. Parkside Financial Bank & Trust now owns 526 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 263 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of National Grid Transco in the third quarter worth about $39,000. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Performance

National Grid Transco stock opened at $92.30 on Friday. National Grid Transco, PLC has a 52-week low of $59.35 and a 52-week high of $93.13. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a 50 day moving average price of $80.69 and a two-hundred day moving average price of $75.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. BNP Paribas Exane downgraded National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Finally, National Bank Financial set a $85.50 price target on National Grid Transco in a research note on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, National Grid Transco presently has a consensus rating of “Moderate Buy” and an average price target of $83.80.

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.