Envestnet Asset Management Inc. Increases Stake in National Grid Transco, PLC $NGG

Envestnet Asset Management Inc. grew its position in shares of National Grid Transco, PLC (NYSE:NGG) by 29.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,774,746 shares of the utilities provider’s stock after buying an additional 402,329 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of National Grid Transco worth $132,059,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Federated Hermes Inc. increased its holdings in shares of National Grid Transco by 49.8% in the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider’s stock valued at $205,592,000 after purchasing an additional 1,041,918 shares in the last quarter. Nuveen LLC purchased a new position in shares of National Grid Transco in the 1st quarter valued at about $32,015,000. Raymond James Financial Inc. increased its holdings in shares of National Grid Transco by 22.7% in the 1st quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider’s stock valued at $91,176,000 after purchasing an additional 256,645 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of National Grid Transco by 25.9% in the 1st quarter. Clark Capital Management Group Inc. now owns 895,628 shares of the utilities provider’s stock valued at $58,762,000 after purchasing an additional 184,006 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of National Grid Transco in the 1st quarter valued at about $10,705,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Wednesday, October 8th. Zacks Research cut shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Transco Stock Down 0.7%

Shares of NYSE NGG opened at $76.62 on Wednesday. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $77.35. 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 50-day simple moving average of $72.49 and a 200-day simple moving average of $71.98.

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.