National Grid Transco, PLC $NGG Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP grew its holdings in National Grid Transco, PLC (NYSE:NGG) by 73.7% during the second quarter, HoldingsChannel.com reports. The fund owned 28,117 shares of the utilities provider’s stock after purchasing an additional 11,927 shares during the quarter. Engineers Gate Manager LP’s holdings in National Grid Transco were worth $2,330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NGG. Sound Income Strategies LLC boosted its position in National Grid Transco by 13.6% during the 1st quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 129 shares during the period. Root Financial Partners LLC raised its position in National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Cullen Frost Bankers Inc. raised its position in National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Tred Avon Family Wealth LLC lifted its stake in shares of National Grid Transco by 1.7% during the first quarter. Tred Avon Family Wealth LLC now owns 9,620 shares of the utilities provider’s stock worth $814,000 after purchasing an additional 165 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of National Grid Transco by 28.5% during the fourth quarter. Huntington National Bank now owns 843 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 187 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NGG. Royal Bank Of Canada reiterated a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Wall Street Zen cut National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $85.50.

National Grid Transco Stock Performance

NYSE:NGG opened at $74.95 on Tuesday. National Grid Transco, PLC has a one year low of $69.99 and a one year high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The business’s 50-day simple moving average is $80.52 and its 200 day simple moving average is $83.87.

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.