Goldman Sachs Group Inc. Boosts Holdings in National Grid Transco, PLC $NGG

Key Points

• Goldman Sachs Group Inc. increased its stake in National Grid Transco by 4.9%, owning approximately 2,012,862 shares valued at $132,064,000 after adding 94,839 shares in the first quarter.
• Several hedge funds also modified their positions in National Grid Transco, with Allspring Global Investments holdings rising by a notable 97.3%.
• Research analysts have mixed views on the stock, with ratings ranging from "strong buy" to "sell", reflecting uncertainty in market confidence for National Grid Transco.

Goldman Sachs Group Inc. lifted its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,012,862 shares of the utilities provider's stock after buying an additional 94,839 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of National Grid Transco worth $132,064,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of National Grid Transco in the 1st quarter valued at $28,000. Cambridge Investment Research Advisors Inc. grew its position in shares of National Grid Transco by 3.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock valued at $907,000 after buying an additional 500 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of National Grid Transco by 25.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock valued at $398,000 after buying an additional 1,231 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of National Grid Transco by 97.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock valued at $624,000 after buying an additional 4,675 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of National Grid Transco by 8.9% in 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 during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on NGG shares. Royal Bank Of Canada downgraded shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. BNP Paribas Exane started coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, National Grid Transco presently has an average rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Stock Up 0.5%

Shares of NYSE NGG opened at $71.07 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The firm has a 50-day moving average price of $71.06 and a 200 day moving average price of $69.59. The stock has a market capitalization of $70.51 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68.

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.

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