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

Cidel Asset Management Inc. decreased its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 17.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 61,790 shares of the utilities provider’s stock after selling 12,928 shares during the period. Cidel Asset Management Inc.’s holdings in National Grid Transco were worth $5,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of 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 valued at $345,292,000 after purchasing an additional 155,118 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of National Grid Transco by 0.3% during the 4th quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock worth $245,154,000 after buying an additional 9,928 shares during the last quarter. Milford Funds Ltd. bought a new stake in shares of National Grid Transco during the 4th quarter worth about $183,208,000. Royal Bank of Canada boosted its holdings in shares of National Grid Transco by 8.3% during the 4th quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock worth $178,945,000 after buying an additional 176,840 shares during the period. Finally, Morgan Stanley grew its stake in National Grid Transco by 1.4% in the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after buying an additional 29,832 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Trading Down 0.1%

Shares of National Grid Transco stock opened at $78.05 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. National Grid Transco, PLC has a twelve month low of $69.77 and a twelve month high of $94.64. The company has a 50-day simple moving average of $80.98 and a two-hundred day simple moving average of $84.28.

Analyst Ratings Changes

Several research analysts have weighed in on NGG shares. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Finally, Wall Street Zen lowered National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company 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.