Park Avenue Securities LLC Grows Stock Position in National Grid Transco, PLC $NGG

Key Points

• Park Avenue Securities LLC has increased its stake in National Grid Transco, PLC by 30.4%, owning 45,645 shares valued at approximately $3.4 million after purchasing an additional 10,633 shares in the second quarter.
• Several institutional investors, including Federated Hermes Inc. and Goldman Sachs Group Inc., have also significantly raised their positions in National Grid Transco during the first quarter, indicating increasing institutional interest in the company.
• Analyst ratings are mixed, with one analyst issuing a "Strong Buy" rating and others giving ratings ranging from "Buy" to "Hold." The consensus rating is "Moderate Buy" with an average target price of $80.40.

Park Avenue Securities LLC increased its holdings in National Grid Transco, PLC (NYSE:NGG - Free Report) by 30.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,645 shares of the utilities provider's stock after buying an additional 10,633 shares during the quarter. Park Avenue Securities LLC's holdings in National Grid Transco were worth $3,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGG. Federated Hermes Inc. grew its position in shares of National Grid Transco by 49.8% during the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock valued at $205,592,000 after acquiring an additional 1,041,918 shares during the period. Goldman Sachs Group Inc. lifted its position in National Grid Transco by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider's stock valued at $132,064,000 after purchasing an additional 94,839 shares in the last quarter. Royal Bank of Canada grew its holdings in National Grid Transco by 7.9% during the first quarter. Royal Bank of Canada now owns 1,880,406 shares of the utilities provider's stock valued at $123,375,000 after purchasing an additional 137,541 shares during the period. Raymond James Financial Inc. increased its position in National Grid Transco by 22.7% in the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock worth $91,176,000 after buying an additional 256,645 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in National Grid Transco by 19.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock worth $90,044,000 after buying an additional 228,179 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. 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. BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. BNP Paribas Exane started coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 target price on the stock. Finally, Zacks Research lowered National Grid Transco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Price Performance

NGG stock opened at $71.31 on Wednesday. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The firm has a market capitalization of $70.75 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68. The company has a fifty day simple moving average of $71.07 and a two-hundred day simple moving average of $70.17. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

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.

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