The Manufacturers Life Insurance Company Has $28.94 Million Stock Holdings in National Grid Transco, PLC $NGG

Key Points

• The Manufacturers Life Insurance Company reduced its stake in National Grid Transco, PLC by 6.2% during the first quarter, bringing its holdings to $28.94 million, with a total of 441,107 shares owned.
• Analysts have mixed ratings on National Grid Transco, with **BNP Paribas upgrading** the stock to a "strong-buy" rating while Royal Bank of Canada downgraded it to a "sector perform" rating.
• The current stock price of National Grid Transco is **$70.61**, with a market cap of **$70.07 billion** and a consensus target price of **$80.40** among analysts.

The Manufacturers Life Insurance Company decreased its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 441,107 shares of the utilities provider's stock after selling 29,403 shares during the period. The Manufacturers Life Insurance Company's holdings in National Grid Transco were worth $28,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in National Grid Transco during the 1st quarter valued at about $28,000. SJS Investment Consulting Inc. bought a new stake in shares of National Grid Transco during the first quarter worth approximately $29,000. Capital Analysts LLC lifted its holdings in National Grid Transco by 33.6% in the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider's stock valued at $42,000 after buying an additional 161 shares during the period. Sound Income Strategies LLC boosted its stake in National Grid Transco by 197.3% in the first quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 582 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in National Grid Transco by 216.8% in the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock valued at $62,000 after acquiring an additional 657 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Performance

NGG stock opened at $70.61 on Tuesday. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. 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 firm has a market cap of $70.07 billion, a PE ratio of 13.58, a P/E/G ratio of 1.60 and a beta of 0.68. The business's 50-day moving average price is $71.60 and its two-hundred day moving average price is $69.23.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NGG. 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 began coverage on National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 price objective for the company. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada cut National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, National Grid Transco has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

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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