Legacy Financial Advisors Inc. Invests $491,000 in National Grid Transco, PLC $NGG

Legacy Financial Advisors Inc. purchased a new stake in shares of National Grid Transco, PLC (NYSE:NGG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 6,760 shares of the utilities provider’s stock, valued at approximately $491,000.

Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in National Grid Transco by 21.5% during the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after buying an additional 814,248 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of National Grid Transco by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after acquiring an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of National Grid Transco by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock worth $151,855,000 after acquiring an additional 48,048 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of National Grid Transco by 3.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,835,914 shares of the utilities provider’s stock worth $133,416,000 after acquiring an additional 61,168 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of National Grid Transco by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock worth $124,395,000 after acquiring an additional 282,085 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NGG shares. BNP Paribas Exane downgraded shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. National Bank Financial set a $85.50 price objective on shares of National Grid Transco in a research note on Friday, December 12th. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, National Grid Transco has a consensus rating of “Moderate Buy” and a consensus price target of $83.80.

National Grid Transco Stock Performance

NGG stock opened at $91.40 on Tuesday. National Grid Transco, PLC has a 1 year low of $59.35 and a 1 year high of $93.17. The company has a fifty day simple moving average of $82.64 and a 200 day simple moving average of $76.80. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

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.