Envestnet Asset Management Inc. cut its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,190 shares of the utilities provider’s stock after selling 21,440 shares during the period. Envestnet Asset Management Inc.’s holdings in National Grid Transco were worth $16,507,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of NGG. Advisors Preferred LLC purchased a new stake in National Grid Transco in the third quarter worth $118,000. Bronfman E.L. Rothschild L.P. grew its stake in National Grid Transco by 30.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,517 shares of the utilities provider’s stock worth $158,000 after purchasing an additional 589 shares during the period. Suncoast Equity Management purchased a new stake in National Grid Transco in the second quarter worth $205,000. Armor Investment Advisors LLC purchased a new stake in National Grid Transco in the third quarter worth $226,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in National Grid Transco in the third quarter worth $253,000. 5.60% of the stock is currently owned by hedge funds and other institutional investors.
National Grid Transco, PLC (NYSE:NGG) traded down $0.25 during trading on Wednesday, reaching $59.34. The company’s stock had a trading volume of 286,674 shares, compared to its average volume of 515,660. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.71 and a current ratio of 0.77. National Grid Transco, PLC has a twelve month low of $58.42 and a twelve month high of $75.24.
Several equities research analysts recently weighed in on NGG shares. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of National Grid Transco in a research note on Wednesday, November 15th. Deutsche Bank raised National Grid Transco from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised National Grid Transco from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. ValuEngine raised National Grid Transco from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group raised National Grid Transco from an “underperform” rating to a “neutral” rating in a research note on Monday, November 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.00.
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About National Grid Transco
National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.
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