National Grid Transco, PLC $NGG Shares Purchased by ABC Arbitrage SA

ABC Arbitrage SA raised its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 30.3% during the fourth quarter, HoldingsChannel reports. The fund owned 312,202 shares of the utilities provider’s stock after acquiring an additional 72,643 shares during the quarter. National Grid Transco comprises approximately 2.2% of ABC Arbitrage SA’s holdings, making the stock its 17th largest position. ABC Arbitrage SA’s holdings in National Grid Transco were worth $24,149,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NGG. Natural Investments LLC increased its holdings in National Grid Transco by 1.2% in the fourth quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock valued at $898,000 after buying an additional 133 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of National Grid Transco by 14.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider’s stock worth $81,000 after buying an additional 137 shares during the last quarter. Cozad Asset Management Inc. boosted its holdings in shares of National Grid Transco by 4.4% in the 3rd quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock valued at $241,000 after buying an additional 140 shares during the period. IFP Advisors Inc grew its position in shares of National Grid Transco by 28.1% during the 3rd quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock valued at $50,000 after buying an additional 152 shares during the last quarter. Finally, Huntington National Bank raised its stake in National Grid Transco by 30.9% during the third quarter. Huntington National Bank now owns 656 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 155 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Transco Trading Up 0.3%

NYSE:NGG opened at $87.15 on Tuesday. 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 business has a fifty day moving average of $87.63 and a 200-day moving average of $82.81. National Grid Transco, PLC has a 1 year low of $67.08 and a 1 year high of $94.64.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group restated a “sell” rating on shares of National Grid Transco in a research note on Monday, March 16th. Jefferies Financial Group restated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Tuesday, April 21st. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Finally, Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, National Grid Transco has an average rating of “Hold” and a consensus target price of $83.80.

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.