Sagespring Wealth Partners LLC Acquires 3,345 Shares of National Grid Transco, PLC $NGG

Key Points

• Sagespring Wealth Partners LLC increased its stake in National Grid Transco, PLC (NYSE: NGG) by 81.9% in the second quarter, acquiring an additional 3,345 shares, bringing its total to 7,429 shares valued at approximately $553,000.
• Other institutional investors, like Federated Hermes Inc. and Raymond James Financial Inc., also expanded their holdings in NGG significantly during the first quarter, indicating increased institutional interest in the stock.
• As of early September, several research firms have rated National Grid Transco with a mix of ratings, resulting in an average rating of "Moderate Buy" with a target price of $80.40.

Sagespring Wealth Partners LLC boosted its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 81.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,429 shares of the utilities provider's stock after acquiring an additional 3,345 shares during the period. Sagespring Wealth Partners LLC's holdings in National Grid Transco were worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NGG. Federated Hermes Inc. grew its holdings in 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 worth $205,592,000 after acquiring an additional 1,041,918 shares in the last quarter. Nuveen LLC purchased a new stake in shares of National Grid Transco during the first quarter valued at about $32,015,000. Raymond James Financial Inc. lifted its position in shares of National Grid Transco by 22.7% during the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock valued at $91,176,000 after buying an additional 256,645 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of National Grid Transco by 19.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock valued at $90,044,000 after buying an additional 228,179 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in shares of National Grid Transco by 25.9% during the first quarter. Clark Capital Management Group Inc. now owns 895,628 shares of the utilities provider's stock valued at $58,762,000 after buying an additional 184,006 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NGG. Zacks Research lowered shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Price Performance

Shares of NYSE:NGG opened at $75.88 on Friday. National Grid Transco, PLC has a twelve month low of $55.82 and a twelve month high of $76.12. The company's 50 day moving average is $71.56 and its 200 day moving average is $71.25. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $75.29 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.70 and a beta of 0.70.

National Grid Transco 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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