Perigon Wealth Management LLC Acquires New Shares in National Grid Transco, PLC $NGG

Perigon Wealth Management LLC acquired a new stake in National Grid Transco, PLC (NYSE:NGG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,996 shares of the utilities provider’s stock, valued at approximately $464,000.

A number of other large investors have also added to or reduced their stakes in NGG. AQR Capital Management LLC bought a new position in National Grid Transco in the first quarter worth about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in National Grid Transco by 79.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC raised its holdings in National Grid Transco by 12.5% in the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock worth $575,000 after purchasing an additional 971 shares in the last quarter. Focus Partners Wealth raised its holdings in National Grid Transco by 11.1% in the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new position in National Grid Transco in the second quarter worth about $221,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Performance

NGG opened at $89.99 on Thursday. National Grid Transco, PLC has a 52-week low of $62.23 and a 52-week high of $94.64. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The firm’s 50-day moving average price is $88.55 and its 200-day moving average price is $80.69.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NGG. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. National Bank Financial set a $85.50 target price on shares of National Grid Transco in a report on Friday, December 12th. Finally, Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.