Northside Capital Management LLC Makes New $2.33 Million Investment in National Grid Transco, PLC $NGG

Key Points

• Northside Capital Management LLC has made a new investment of approximately $2.33 million in National Grid Transco, acquiring 31,309 shares.
• Several hedge funds, including Ballentine Partners LLC and GAMMA Investing LLC, have also increased their stakes in National Grid Transco during the second quarter, showcasing strong institutional interest in the utilities provider.
• Analysts have mixed ratings for the stock, with one upgrade to a strong-buy rating from BNP Paribas and a downgrade from Royal Bank of Canada, reflecting differing views on the stock's performance potential.

Northside Capital Management LLC acquired a new position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,309 shares of the utilities provider's stock, valued at approximately $2,330,000.

A number of other hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC boosted its holdings in National Grid Transco by 14.9% during the 2nd quarter. Ballentine Partners LLC now owns 6,982 shares of the utilities provider's stock worth $520,000 after acquiring an additional 908 shares during the last quarter. GAMMA Investing LLC boosted its holdings in National Grid Transco by 41.1% during the 2nd quarter. GAMMA Investing LLC now owns 2,643 shares of the utilities provider's stock worth $197,000 after acquiring an additional 770 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of National Grid Transco by 30.4% in the 2nd quarter. Park Avenue Securities LLC now owns 45,645 shares of the utilities provider's stock worth $3,396,000 after buying an additional 10,633 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of National Grid Transco by 4.5% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 12,002 shares of the utilities provider's stock worth $893,000 after buying an additional 515 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of National Grid Transco by 2.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 89,925 shares of the utilities provider's stock worth $6,691,000 after buying an additional 2,489 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada downgraded shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. BNP Paribas raised shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. BNP Paribas Exane assumed coverage on shares of National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price target on the stock. Finally, Zacks Research downgraded shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, National Grid Transco has an average rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Price Performance

NYSE NGG opened at $71.31 on Wednesday. The company has a market cap of $70.75 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The firm's 50-day simple moving average is $71.07 and its two-hundred day simple moving average is $70.17.

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.

Want to see what other hedge funds are holding NGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Grid Transco, PLC (NYSE:NGG - Free Report).

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.