National Grid Transco, PLC $NGG Shares Sold by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT trimmed its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 27.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in National Grid Transco by 21.5% in the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after acquiring an additional 814,248 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock worth $238,112,000 after purchasing an additional 66,456 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of National Grid Transco by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock worth $151,855,000 after purchasing an additional 48,048 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 purchasing an additional 61,168 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its stake in 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 valued at $124,395,000 after buying an additional 282,085 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Price Performance

Shares of NYSE:NGG opened at $92.30 on Monday. 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 business has a fifty day moving average of $80.69 and a two-hundred day moving average of $75.98. National Grid Transco, PLC has a 52-week low of $59.35 and a 52-week high of $93.13.

Analyst Ratings Changes

Several equities research analysts have commented on the company. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. National Bank Financial set a $85.50 target price on shares of National Grid Transco in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of National Grid Transco from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.80.

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.