Envestnet Asset Management Inc. Buys 61,168 Shares of National Grid Transco, PLC $NGG

Envestnet Asset Management Inc. boosted its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,835,914 shares of the utilities provider’s stock after acquiring an additional 61,168 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of National Grid Transco worth $133,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NGG. Global Retirement Partners LLC bought a new stake in shares of National Grid Transco in the 2nd quarter worth approximately $487,000. Creative Planning raised its holdings in shares of National Grid Transco by 23.3% during the second quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after acquiring an additional 16,857 shares in the last quarter. Summit Global Investments lifted its stake in National Grid Transco by 19.1% in the second quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock worth $3,985,000 after acquiring an additional 8,603 shares during the period. Osaic Holdings Inc. boosted its holdings in National Grid Transco by 189.2% in the second quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock valued at $7,604,000 after acquiring an additional 72,673 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new position in National Grid Transco during the 3rd quarter valued at $586,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Trading Up 1.4%

Shares of NGG opened at $88.08 on Friday. National Grid Transco, PLC has a fifty-two week low of $59.35 and a fifty-two week high of $89.13. The firm’s 50-day simple moving average is $79.25 and its two-hundred day simple moving average is $75.28. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NGG. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Thursday. National Bankshares set a $85.50 price target on shares of National Grid Transco in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Finally, BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, National Grid Transco has an average rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Profile

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.