Ieq Capital LLC Grows Stock Position in National Grid Transco, PLC $NGG

Key Points

• Ieq Capital LLC increased its holdings in National Grid Transco, PLC by 130.8% during Q1, leading to ownership of 8,017 shares valued at approximately $526,000.
• Analysts have issued mixed ratings on National Grid Transco, with BNP Paribas upgrading it to a "strong-buy", while Wall Street Zen downgraded it to a "sell" rating.
• The stock's current price is around $68.50, with an average target price of $80.40 according to analysts, indicating potential for growth.

Ieq Capital LLC grew its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 130.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,017 shares of the utilities provider's stock after acquiring an additional 4,544 shares during the quarter. Ieq Capital LLC's holdings in National Grid Transco were worth $526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of National Grid Transco during the 1st quarter valued at about $28,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of National Grid Transco by 3.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock valued at $907,000 after acquiring an additional 500 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of National Grid Transco by 25.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock valued at $398,000 after acquiring an additional 1,231 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of National Grid Transco by 97.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock valued at $624,000 after acquiring an additional 4,675 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake 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 acquiring an additional 417 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. 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. Zacks Research downgraded shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Barclays reissued an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, National Grid Transco has an average rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Stock Down 0.4%

NYSE NGG traded down $0.30 on Tuesday, reaching $70.12. The company had a trading volume of 229,554 shares, compared to its average volume of 856,025. The firm has a market capitalization of $69.58 billion, a PE ratio of 13.49, a P/E/G ratio of 1.59 and a beta of 0.68. 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 of $71.15 and a 200-day moving average of $69.52. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30.

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.