Cidel Asset Management Inc. Has $5.50 Million Position in National Grid Transco, PLC $NGG

Cidel Asset Management Inc. boosted its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,157 shares of the utilities provider’s stock after acquiring an additional 10,830 shares during the period. Cidel Asset Management Inc.’s holdings in National Grid Transco were worth $5,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new stake in shares of National Grid Transco during the 3rd quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in National Grid Transco in the third quarter valued at about $28,000. Salomon & Ludwin LLC lifted its position in National Grid Transco by 4,218.2% during the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 464 shares during the period. ESL Trust Services LLC grew its stake in National Grid Transco by 71.4% during the third quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock worth $35,000 after buying an additional 200 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in National Grid Transco in the 3rd quarter valued at about $36,000. 4.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NGG has been the subject of several analyst reports. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. UBS Group reissued a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Price Performance

Shares of National Grid Transco stock opened at $87.97 on Monday. The firm’s 50 day moving average is $88.28 and its 200 day moving average is $80.38. National Grid Transco, PLC has a 1 year low of $62.13 and a 1 year high of $94.64. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

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.