Cidel Asset Management Inc. Sells 12,928 Shares of National Grid Transco, PLC $NGG

Cidel Asset Management Inc. lessened its position in National Grid Transco, PLC (NYSE:NGG) by 17.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,790 shares of the utilities provider’s stock after selling 12,928 shares during the quarter. Cidel Asset Management Inc.’s holdings in National Grid Transco were worth $5,121,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NGG. First Trust Advisors LP lifted its position in shares of National Grid Transco by 44.1% in the first quarter. First Trust Advisors LP now owns 26,665 shares of the utilities provider’s stock worth $2,256,000 after purchasing an additional 8,162 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in National Grid Transco by 23.5% in the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider’s stock valued at $10,193,000 after purchasing an additional 22,898 shares in the last quarter. William John Sempolinski bought a new position in National Grid Transco in the second quarter valued at $1,138,000. Ferguson Wellman Capital Management Inc. acquired a new stake in National Grid Transco in the 1st quarter valued at $21,277,000. Finally, ABC Arbitrage SA increased its stake in National Grid Transco by 30.3% in the 4th quarter. ABC Arbitrage SA now owns 312,202 shares of the utilities provider’s stock valued at $24,149,000 after buying an additional 72,643 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Down 0.1%

National Grid Transco stock opened at $78.05 on Wednesday. The company’s 50-day moving average is $80.98 and its 200-day moving average is $84.28. National Grid Transco, PLC has a fifty-two week low of $69.77 and a fifty-two week high of $94.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NGG shares. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Wall Street Zen downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, National Grid Transco presently has an average rating of “Reduce” and an average price target of $85.50.

About National Grid Transco

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.

In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.