Clark Capital Management Group Inc. Boosts Holdings in National Grid Transco, PLC $NGG

Clark Capital Management Group Inc. raised its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 1.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 920,565 shares of the utilities provider’s stock after buying an additional 16,031 shares during the period. Clark Capital Management Group Inc. owned about 0.09% of National Grid Transco worth $66,897,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Creative Planning lifted its stake in shares of National Grid Transco by 23.3% in the 2nd quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after purchasing an additional 16,857 shares during the period. Global Retirement Partners LLC purchased a new stake in National Grid Transco during the second quarter worth $487,000. Summit Global Investments grew its position in National Grid Transco by 19.1% during the second quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock valued at $3,985,000 after buying an additional 8,603 shares during the period. JPMorgan Chase & Co. grew its position in 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 valued at $151,855,000 after buying an additional 48,048 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in National Grid Transco by 189.2% in the second quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock valued at $7,604,000 after buying an additional 72,673 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

NGG has been the subject of a number of analyst reports. 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 target price on National Grid Transco in a research report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, National Grid Transco has a consensus rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Price Performance

NGG opened at $90.87 on Friday. National Grid Transco, PLC has a twelve month low of $62.08 and a twelve month high of $94.64. 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 firm’s 50-day moving average price is $86.63 and its 200 day moving average price is $78.75.

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.