Perigon Wealth Management LLC Invests $464,000 in National Grid Transco, PLC $NGG

Perigon Wealth Management LLC bought a new position in shares of National Grid Transco, PLC (NYSE:NGG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,996 shares of the utilities provider’s stock, valued at approximately $464,000.

Several other institutional investors and hedge funds have also made changes to their positions in NGG. Johnson Financial Group Inc. bought a new stake in shares of National Grid Transco during the third quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of National Grid Transco during the third quarter worth $28,000. Salomon & Ludwin LLC lifted its position in shares of National Grid Transco by 4,218.2% during the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 464 shares during the last quarter. ESL Trust Services LLC lifted its position in shares of National Grid Transco by 71.4% during the third quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of National Grid Transco during the third quarter worth $36,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Price Performance

NGG stock opened at $89.99 on Thursday. 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 50-day moving average price of $88.55 and a 200 day moving average price of $80.69. National Grid Transco, PLC has a 1-year low of $62.23 and a 1-year high of $94.64.

Analysts Set New Price Targets

NGG has been the subject of several research analyst reports. National Bank Financial set a $85.50 target price on National Grid Transco in a research report on Friday, December 12th. Jefferies Financial Group reiterated a “hold” rating on shares of National Grid Transco in a research report on Wednesday, March 18th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, UBS Group restated a “sell” rating on shares of National Grid Transco in a report on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” 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.