National Grid Transco, PLC $NGG Shares Purchased by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management increased its National Grid stake by 24.4% in the third quarter, adding 62,127 shares for a total holding of 317,204 shares valued at approximately $24.1 million.
• Institutional ownership remains limited at 4.68%, although several other firms—including Milford Funds, Goldman Sachs, Dimensional Fund Advisors and Cullen Capital Management—also reported purchases or increased positions.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $85.50 price target. NGG recently traded at $76.09, near the lower end of its 52-week range of $72.99 to $94.64.

Ferguson Wellman Capital Management Inc. increased its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 24.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,204 shares of the utilities provider's stock after buying an additional 62,127 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in National Grid Transco were worth $24,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Milford Funds Ltd. purchased a new position in shares of National Grid Transco in the fourth quarter valued at $183,208,000. Goldman Sachs Group Inc. increased its holdings in National Grid Transco by 0.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,101,433 shares of the utilities provider's stock valued at $162,546,000 after acquiring an additional 18,663 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in National Grid Transco by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 891,393 shares of the utilities provider's stock valued at $75,412,000 after acquiring an additional 15,958 shares in the last quarter. Brandes Investment Partners LP acquired a new position in National Grid Transco during the fourth quarter worth about $60,372,000. Finally, Cullen Capital Management LLC lifted its stake in National Grid Transco by 4.2% in the 4th quarter. Cullen Capital Management LLC now owns 761,975 shares of the utilities provider's stock valued at $58,939,000 after buying an additional 30,414 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on NGG. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a report on Friday, July 17th. Sanford C. Bernstein upgraded National Grid Transco to a "strong-buy" rating in a report on Tuesday, September 15th. Wall Street Zen downgraded National Grid Transco from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a "buy" rating to a "hold" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $85.50.

National Grid Transco Stock Down 0.0%

NGG stock traded down $0.03 during trading on Monday, reaching $76.09. 444,019 shares of the stock traded hands, compared to its average volume of 1,081,355. The business's 50 day moving average price is $78.55 and its 200-day moving average price is $82.35. National Grid Transco, PLC has a 52-week low of $72.99 and a 52-week high of $94.64. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71.

National Grid Transco Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company headquartered in the United Kingdom. The company owns and operates electricity and natural gas networks that deliver energy to homes, businesses and other customers in the United Kingdom and the northeastern United States.

In the UK, National Grid operates the electricity transmission network in England and Wales and the country's high-pressure gas transmission system. It also develops and operates energy interconnectors and infrastructure that support the connection of renewable generation and the broader transition to a lower-carbon energy system.

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