Engineers Gate Manager LP Increases Position in National Grid Transco, PLC $NGG

Engineers Gate Manager LP increased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 73.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,117 shares of the utilities provider’s stock after acquiring an additional 11,927 shares during the quarter. Engineers Gate Manager LP’s holdings in National Grid Transco were worth $2,330,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NGG. First Trust Advisors LP boosted its holdings in shares of National Grid Transco by 44.1% during the first quarter. First Trust Advisors LP now owns 26,665 shares of the utilities provider’s stock worth $2,256,000 after purchasing an additional 8,162 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in National Grid Transco by 23.5% in the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider’s stock valued at $10,193,000 after purchasing an additional 22,898 shares during the last quarter. William John Sempolinski acquired a new position in National Grid Transco in the second quarter valued at $1,138,000. Ferguson Wellman Capital Management Inc. purchased a new position in National Grid Transco during the first quarter worth about $21,277,000. Finally, Brandes Investment Partners LP purchased a new position in National Grid Transco during the fourth quarter worth about $60,372,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Stock Performance

NGG stock opened at $74.95 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. The stock has a 50-day moving average price of $80.52 and a two-hundred day moving average price of $83.87. National Grid Transco, PLC has a 12-month low of $69.99 and a 12-month high of $94.64.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen cut National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, National Grid Transco currently has a consensus rating of “Reduce” and an average price target of $85.50.

National Grid Transco Company 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.