Gabelli Funds LLC Has $8.59 Million Stake in National Grid Transco, PLC $NGG

Key Points

• Gabelli Funds LLC reduced its position in National Grid Transco, PLC by 3.7%, selling 5,000 shares, leaving them with 130,900 shares valued at approximately $8.58 million at the end of the first quarter.
• Several institutional investors, including Mayflower Financial Advisors LLC and First Horizon Advisors Inc., have recently increased their holdings in National Grid Transco, highlighting a mixed sentiment among investors.
• Analyst ratings on National Grid Transco are varied, with recent reports indicating a shift from "outperform" to "sector perform" by Royal Bank of Canada, while other firms issued a "strong-buy" rating, reflecting differing opinions on the stock's outlook.

Gabelli Funds LLC cut its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,900 shares of the utilities provider's stock after selling 5,000 shares during the period. Gabelli Funds LLC's holdings in National Grid Transco were worth $8,588,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NGG. Federated Hermes Inc. boosted its holdings in National Grid Transco by 49.8% in the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock valued at $205,592,000 after purchasing an additional 1,041,918 shares during the period. Nuveen LLC bought a new position in shares of National Grid Transco during the 1st quarter worth about $32,015,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of National Grid Transco by 5,134.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock worth $19,651,000 after acquiring an additional 324,388 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of National Grid Transco by 22.7% during the 1st quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock worth $91,176,000 after acquiring an additional 256,645 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of National Grid Transco by 19.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock worth $90,044,000 after acquiring an additional 228,179 shares during the period. 4.68% of the stock is owned by institutional investors.

National Grid Transco Trading Down 0.3%

Shares of NYSE:NGG traded down $0.24 during trading on Monday, hitting $70.61. 323,364 shares of the company's stock were exchanged, compared to its average volume of 519,612. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. The firm has a 50-day moving average price of $71.66 and a two-hundred day moving average price of $69.16. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market cap of $70.07 billion, a P/E ratio of 13.58, a PEG ratio of 1.60 and a beta of 0.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NGG shares. BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Barclays restated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. BNP Paribas Exane assumed coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective for the company. Finally, Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Company Profile

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.