Ieq Capital LLC Buys 4,544 Shares of 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 raised its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 130.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,017 shares of the utilities provider's stock after purchasing an additional 4,544 shares during the period. Ieq Capital LLC's holdings in National Grid Transco were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of National Grid Transco by 21.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,464 shares of the utilities provider's stock valued at $752,000 after purchasing an additional 2,006 shares during the period. ICONIQ Capital LLC acquired a new stake in shares of National Grid Transco in the first quarter valued at approximately $235,000. Smartleaf Asset Management LLC grew its stake in shares of National Grid Transco by 31.9% in the first quarter. Smartleaf Asset Management LLC now owns 3,548 shares of the utilities provider's stock valued at $233,000 after buying an additional 859 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of National Grid Transco by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,175 shares of the utilities provider's stock valued at $536,000 after acquiring an additional 407 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in National Grid Transco by 20.0% in the first quarter. Kestra Advisory Services LLC now owns 23,717 shares of the utilities provider's stock valued at $1,556,000 after purchasing an additional 3,952 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Price Performance

Shares of NGG stock traded up $0.12 during mid-day trading on Monday, reaching $70.22. The company's stock had a trading volume of 430,756 shares, compared to its average volume of 857,383. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. The company has a market cap of $69.67 billion, a P/E ratio of 13.50, a PEG 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's 50-day moving average is $71.23 and its two-hundred day moving average is $69.46.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NGG shares. Zacks Research lowered National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. BNP Paribas raised National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. BNP Paribas Exane assumed coverage on 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. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco 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.