Public Employees Retirement System of Ohio Makes New Investment in National Grid Transco, PLC $NGG

Key Points

• Public Employees Retirement System of Ohio purchased 12,974 shares of National Grid Transco, valued at approximately $1.08 million, during the second quarter.
• Several institutional investors increased their positions, while institutional ownership stood at 4.68% of the company’s stock.
• Analyst sentiment remains cautious: one analyst rates NGG a Buy, seven Hold, and two Sell, producing a consensus “Reduce” rating and an $85.50 price target. Shares opened at $78.05, near the lower end of their $69.77–$94.64 one-year range.

Public Employees Retirement System of Ohio purchased a new stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 12,974 shares of the utilities provider's stock, valued at approximately $1,075,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of National Grid Transco by 44.1% during the 1st quarter. First Trust Advisors LP now owns 26,665 shares of the utilities provider's stock valued at $2,256,000 after purchasing an additional 8,162 shares in the last quarter. Miller Howard Investments Inc. NY raised its holdings in shares of National Grid Transco by 23.5% in the 1st quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider's stock worth $10,193,000 after purchasing an additional 22,898 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in National Grid Transco during the first quarter valued at approximately $21,277,000. ABC Arbitrage SA boosted its holdings in National Grid Transco by 30.3% during the fourth quarter. ABC Arbitrage SA now owns 312,202 shares of the utilities provider's stock worth $24,149,000 after buying an additional 72,643 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in National Grid Transco by 54.0% during the fourth quarter. Bleakley Financial Group LLC now owns 21,364 shares of the utilities provider's stock worth $1,652,000 after buying an additional 7,488 shares in the last quarter. Institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

NGG has been the topic of several research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of National Grid Transco in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of National Grid Transco in a research report on Monday, June 1st. Wall Street Zen downgraded National Grid Transco from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of National Grid Transco in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $85.50.

National Grid Transco Stock Down 0.1%

Shares of NYSE NGG opened at $78.05 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. National Grid Transco, PLC has a one year low of $69.77 and a one year high of $94.64. The business has a 50-day moving average price of $80.98 and a two-hundred day moving average price of $84.28.

National Grid Transco Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.

In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.

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