Cidel Asset Management Inc. Purchases 12,380 Shares of National Grid Transco, PLC $NGG

Cidel Asset Management Inc. boosted its position in National Grid Transco, PLC (NYSE:NGG) by 21.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,633 shares of the utilities provider’s stock after purchasing an additional 12,380 shares during the period. Cidel Asset Management Inc.’s holdings in National Grid Transco were worth $5,181,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of National Grid Transco by 49.8% in the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider’s stock worth $205,592,000 after purchasing an additional 1,041,918 shares during the period. Nuveen LLC bought a new stake in National Grid Transco during the first quarter valued at approximately $32,015,000. Raymond James Financial Inc. increased its holdings in National Grid Transco by 22.7% during the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider’s stock valued at $91,176,000 after buying an additional 256,645 shares during the last quarter. Envestnet Asset Management Inc. raised its position in National Grid Transco by 19.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider’s stock worth $90,044,000 after acquiring an additional 228,179 shares during the period. Finally, Clark Capital Management Group Inc. boosted its stake in shares of National Grid Transco by 25.9% during the 1st quarter. Clark Capital Management Group Inc. now owns 895,628 shares of the utilities provider’s stock worth $58,762,000 after acquiring an additional 184,006 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Performance

NGG opened at $76.97 on Friday. The company has a 50 day simple moving average of $71.68 and a two-hundred day simple moving average of $71.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The firm has a market cap of $76.37 billion, a P/E ratio of 14.80, a PEG ratio of 1.74 and a beta of 0.70. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $77.01.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NGG. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

National Grid Transco Company Profile

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.