Hennessy Advisors Inc. Acquires 11,700 Shares of National Grid Transco, PLC $NGG

Key Points

• Hennessy Advisors Inc. increased its stake in National Grid Transco, acquiring an additional 11,700 shares, bringing its total holdings to 211,044 shares worth approximately $15.7 million.
• National Grid Transco has recently seen changes in analyst ratings, including a downgrade from Zacks Research from a "strong-buy" to a "hold" rating, with an average consensus price target of $80.40.
• The company's stock has experienced a 1.2% increase, with a current market capitalization of $72.83 billion and a PE ratio of 14.12.

Hennessy Advisors Inc. boosted its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,044 shares of the utilities provider's stock after acquiring an additional 11,700 shares during the period. Hennessy Advisors Inc.'s holdings in National Grid Transco were worth $15,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC bought a new stake in shares of National Grid Transco in the 1st quarter valued at about $28,000. SJS Investment Consulting Inc. bought a new stake in shares of National Grid Transco in the 1st quarter valued at about $29,000. V Square Quantitative Management LLC bought a new stake in shares of National Grid Transco in the 2nd quarter valued at about $35,000. Capital Analysts LLC boosted its holdings in shares of National Grid Transco by 33.6% in the 1st quarter. Capital Analysts LLC now owns 640 shares of the utilities provider's stock valued at $42,000 after buying an additional 161 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of National Grid Transco by 197.3% in the 1st quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock valued at $58,000 after buying an additional 582 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Up 1.2%

NGG stock opened at $73.40 on Friday. The firm has a 50 day moving average of $71.05 and a 200 day moving average of $70.63. The stock has a market capitalization of $72.83 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.64 and a beta of 0.70. 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.

Analyst Ratings Changes

NGG has been the topic of a number of recent analyst reports. Zacks Research cut shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, National Grid Transco presently has an average rating of "Moderate Buy" and a consensus price target of $80.40.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.