Milford Funds Ltd. acquired a new stake in National Grid Transco, PLC (NYSE:NGG – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,368,561 shares of the utilities provider’s stock, valued at approximately $183,208,000. National Grid Transco accounts for approximately 3.6% of Milford Funds Ltd.’s investment portfolio, making the stock its 5th largest position. Milford Funds Ltd. owned approximately 0.24% of National Grid Transco at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of National Grid Transco in the fourth quarter valued at about $264,000. Wells Fargo & Company MN increased its holdings in shares of National Grid Transco by 9.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,630,943 shares of the utilities provider’s stock valued at $126,153,000 after purchasing an additional 137,931 shares during the period. Cullen Capital Management LLC increased its holdings in shares of National Grid Transco by 4.2% in the fourth quarter. Cullen Capital Management LLC now owns 761,975 shares of the utilities provider’s stock valued at $58,939,000 after purchasing an additional 30,414 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of National Grid Transco by 0.5% in the fourth quarter. Quadrant Capital Group LLC now owns 35,978 shares of the utilities provider’s stock valued at $2,783,000 after purchasing an additional 179 shares during the period. Finally, Laurel Oak Wealth Management LLC acquired a new position in shares of National Grid Transco in the fourth quarter valued at about $452,000. 4.68% of the stock is owned by institutional investors and hedge funds.
National Grid Transco Stock Up 0.3%
National Grid Transco stock opened at $81.80 on Friday. National Grid Transco, PLC has a 52 week low of $67.51 and a 52 week high of $94.64. The business’s 50-day moving average price is $85.62 and its 200 day moving average price is $83.92. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.
National Grid Transco Announces Dividend
Analysts Set New Price Targets
A number of brokerages have recently weighed in on NGG. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. UBS Group reissued a “sell” rating on shares of National Grid Transco in a report on Monday, March 16th. The Goldman Sachs Group reissued a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. Jefferies Financial Group reaffirmed a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $85.50.
Read Our Latest Research Report on National Grid Transco
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.
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