Invesco Ltd. Decreases Stake in National Grid Transco, PLC $NGG

Key Points

• Invesco Ltd. has reduced its stake in National Grid Transco, PLC by 11.5%, now holding 475,233 shares worth approximately $31.18 million.
• Various institutional investors are actively trading NGG shares, with notable alterations including Guggenheim Capital's position increasing by 377.5%.
• Wall Street analysts have a generally positive outlook on National Grid Transco, with an average rating of "Moderate Buy" and a target price of $80.40.

Invesco Ltd. lowered its stake in National Grid Transco, PLC (NYSE:NGG - Free Report) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,233 shares of the utilities provider's stock after selling 62,036 shares during the period. Invesco Ltd.'s holdings in National Grid Transco were worth $31,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NGG. Golden State Wealth Management LLC purchased a new position in shares of National Grid Transco in the 1st quarter valued at about $28,000. SJS Investment Consulting Inc. purchased a new position in shares of National Grid Transco in the 1st quarter valued at about $29,000. Sound Income Strategies LLC increased 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 acquiring an additional 582 shares during the last quarter. Bessemer Group Inc. grew its stake in National Grid Transco by 216.8% during the 1st quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock worth $62,000 after buying an additional 657 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in National Grid Transco during the 1st quarter worth approximately $71,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Stock Performance

National Grid Transco stock traded down $0.0390 during mid-day trading on Friday, reaching $71.3910. 435,376 shares of the company were exchanged, compared to its average volume of 682,936. National Grid Transco, PLC has a twelve month low of $55.82 and a twelve month high of $74.82. The firm's 50-day simple moving average is $71.68 and its two-hundred day simple moving average is $68.73. 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 firm has a market cap of $70.84 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63.

Analyst Ratings Changes

NGG has been the topic of a number of research reports. Barclays restated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Royal Bank Of Canada downgraded National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Finally, BNP Paribas upgraded National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, National Grid Transco presently has an average rating of "Moderate Buy" and a consensus target price 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.