Caprock Group LLC Takes Position in National Grid Transco, PLC $NGG

Caprock Group LLC acquired a new stake in shares of National Grid Transco, PLC (NYSE:NGG) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,875 shares of the utilities provider’s stock, valued at approximately $979,000.

Several other institutional investors have also recently added to or reduced their stakes in NGG. Bank of America Corp DE boosted its stake in shares of National Grid Transco by 21.5% during the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after purchasing an additional 814,248 shares during the last quarter. Federated Hermes Inc. boosted its position in National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock worth $238,112,000 after acquiring an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. boosted its position in National Grid Transco by 23.0% during the second quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock worth $151,916,000 after acquiring an additional 382,392 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in National Grid Transco by 3.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,835,914 shares of the utilities provider’s stock worth $133,416,000 after acquiring an additional 61,168 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in National Grid Transco by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock valued at $124,395,000 after acquiring an additional 282,085 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Stock Up 1.2%

Shares of NGG stock opened at $92.30 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. National Grid Transco, PLC has a fifty-two week low of $59.35 and a fifty-two week high of $93.13. The firm’s 50 day moving average price is $80.69 and its two-hundred day moving average price is $75.98.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NGG. National Bank Financial set a $85.50 price objective on National Grid Transco in a report on Friday, December 12th. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. Finally, BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, National Grid Transco currently has a consensus rating of “Moderate Buy” and a consensus target price 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.