Concurrent Investment Advisors LLC Acquires 6,426 Shares of National Grid Transco, PLC $NGG

Concurrent Investment Advisors LLC grew its holdings in National Grid Transco, PLC (NYSE:NGG) by 83.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,168 shares of the utilities provider’s stock after acquiring an additional 6,426 shares during the period. Concurrent Investment Advisors LLC’s holdings in National Grid Transco were worth $1,096,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Bank of America Corp DE raised its position in National Grid Transco by 3.4% in the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after acquiring an additional 155,118 shares during the period. JPMorgan Chase & Co. raised its position in National Grid Transco by 2.4% in the third 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 during the period. Natixis Advisors LLC raised its position in National Grid Transco by 1.9% in the third quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock worth $146,150,000 after acquiring an additional 36,984 shares during the period. Envestnet Asset Management Inc. raised its position in National Grid Transco by 3.4% in the third 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 during the period. Finally, Raymond James Financial Inc. raised its position in National Grid Transco by 20.3% in the second 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 period. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Price Performance

Shares of NGG stock opened at $89.53 on Friday. National Grid Transco, PLC has a one year low of $67.08 and a one year high of $94.64. The company’s fifty day moving average price is $88.16 and its 200-day moving average price is $82.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97.

Wall Street Analyst Weigh In

NGG has been the topic of several recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Wednesday, April 15th. The Goldman Sachs Group restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, March 23rd. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Tuesday, April 21st. Finally, UBS Group restated a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.80.

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.