Zions Bancorporation National Association UT Reduces Position in National Grid Transco, PLC $NGG

Zions Bancorporation National Association UT decreased its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 27.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,806 shares of the utilities provider’s stock after selling 44,340 shares during the quarter. Zions Bancorporation National Association UT’s holdings in National Grid Transco were worth $8,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGG. HBK Sorce Advisory LLC grew its holdings in shares of National Grid Transco by 1.9% during the third 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in 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. Carr Financial Group Corp grew its stake in 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 purchasing an additional 141 shares during the last quarter. Huntington National Bank increased its holdings in shares of National Grid Transco by 41.1% in the second quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 146 shares during the period. Finally, Beacon Pointe Advisors LLC increased 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NGG. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. National Bank Financial set a $85.50 price objective on shares of National Grid Transco in a 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 note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.80.

National Grid Transco Price Performance

NGG opened at $92.30 on Monday. The firm has a fifty day moving average price of $80.69 and a 200 day moving average price of $75.98. National Grid Transco, PLC has a 1 year low of $59.35 and a 1 year high of $93.13. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

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.