Bank of Montreal Can Boosts Stock Position in National Grid Transco, PLC $NGG

Bank of Montreal Can lifted its stake in National Grid Transco, PLC (NYSE:NGG) by 67.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,669,191 shares of the utilities provider’s stock after purchasing an additional 672,050 shares during the quarter. Bank of Montreal Can owned about 0.17% of National Grid Transco worth $121,300,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NGG. HBK Sorce Advisory LLC grew its holdings in National Grid Transco by 1.9% in the 3rd quarter. HBK Sorce Advisory LLC now owns 7,535 shares of the utilities provider’s stock valued at $555,000 after buying an additional 137 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of 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 acquiring an additional 137 shares during the period. Cozad Asset Management Inc. boosted its position in shares of National Grid Transco by 4.4% during the 3rd quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock valued at $241,000 after acquiring an additional 140 shares during the last quarter. Carr Financial Group Corp boosted its position in shares of National Grid Transco by 2.6% during the 3rd 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 last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in shares of National Grid Transco by 3.4% in the second quarter. Beacon Pointe Advisors LLC now owns 4,671 shares of the utilities provider’s stock valued at $348,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NGG. National Bank Financial set a $85.50 price objective on shares of National Grid Transco in a research report on Friday, December 12th. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.80.

National Grid Transco Trading Down 0.2%

NYSE NGG opened at $89.69 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $86.12 and a 200-day simple moving average of $78.47. National Grid Transco, PLC has a one year low of $61.48 and a one year high of $94.64.

National Grid Transco 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.