FARMERS & MERCHANTS TRUST Co OF LONG BEACH Takes $276,000 Position in National Grid Transco, PLC $NGG

Key Points

• Farmers & Merchants Trust Co of Long Beach has acquired a new stake in National Grid Transco, PLC, purchasing 3,709 shares valued at approximately $276,000 during the second quarter.
• Several institutional investors have also increased their positions in National Grid, with notable increases from Wealth Enhancement Advisory Services LLC, which raised its holdings by 119.6%.
• National Grid's stock rating has changed, with Zacks Research downgrading it from a "strong-buy" to a "hold", while the average target price is currently set at $80.40.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,709 shares of the utilities provider's stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NGG. Two Sigma Advisers LP raised its position in shares of National Grid Transco by 1.6% during the 4th quarter. Two Sigma Advisers LP now owns 12,500 shares of the utilities provider's stock valued at $743,000 after buying an additional 200 shares in the last quarter. Two Sigma Investments LP raised its position in shares of National Grid Transco by 8.9% during the 4th quarter. Two Sigma Investments LP now owns 5,100 shares of the utilities provider's stock valued at $303,000 after buying an additional 417 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of National Grid Transco by 119.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,025 shares of the utilities provider's stock valued at $1,546,000 after buying an additional 14,175 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of National Grid Transco by 9,899.0% during the 1st quarter. GAMMA Investing LLC now owns 122,888 shares of the utilities provider's stock valued at $8,063,000 after purchasing an additional 121,659 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of National Grid Transco by 27.1% during the 1st quarter. Parallel Advisors LLC now owns 3,397 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Price Performance

NGG stock opened at $71.81 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The firm's fifty day moving average is $71.05 and its 200 day moving average is $70.47. The firm has a market cap of $71.25 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.62 and a beta of 0.68.

About National Grid Transco

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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