Entropy Technologies LP Increases Stake in National Grid Transco, PLC $NGG

Key Points

• Entropy Technologies LP increased its National Grid Transco stake by 167.8% in the first quarter, adding 19,993 shares to own 31,905 shares valued at approximately $2.7 million.
• Other major institutions, including Royal Bank of Canada and Bank of America, also increased their positions, though institutional investors collectively own only 4.68% of the company.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $85.50, compared with its recent price of $82.34.

Entropy Technologies LP raised its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 167.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,905 shares of the utilities provider's stock after acquiring an additional 19,993 shares during the quarter. Entropy Technologies LP's holdings in National Grid Transco were worth $2,699,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE grew its stake in shares of National Grid Transco by 3.4% during the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider's stock worth $345,292,000 after purchasing an additional 155,118 shares during the period. Federated Hermes Inc. lifted its stake in shares of National Grid Transco by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider's stock valued at $245,154,000 after purchasing an additional 9,928 shares during the period. Milford Funds Ltd. purchased a new stake in National Grid Transco during the fourth quarter worth $183,208,000. Royal Bank of Canada boosted its holdings in National Grid Transco by 8.3% during the fourth 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 in the last quarter. Finally, Morgan Stanley grew its position in National Grid Transco by 1.4% during the fourth 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 period. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a report on Friday, July 17th. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Morgan Stanley restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 29th. Royal Bank Of Canada restated a "sector perform" rating on shares of National Grid Transco in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $85.50.

National Grid Transco Trading Up 0.0%

Shares of NYSE:NGG opened at $82.34 on Monday. The business's 50 day moving average price is $82.66 and its 200-day moving average price is $85.28. National Grid Transco, PLC has a 1 year low of $67.51 and a 1 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.

National Grid Transco Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were given a dividend of $2.1738 per share. The ex-dividend date was Friday, May 29th. This represents a yield of 533.0%.

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.

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