Zevin Asset Management LLC Trims Stock Holdings in National Grid Transco, PLC $NGG

Zevin Asset Management LLC cut its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 13.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,585 shares of the utilities provider’s stock after selling 9,370 shares during the quarter. Zevin Asset Management LLC’s holdings in National Grid Transco were worth $4,548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of National Grid Transco by 21.5% in the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after buying an additional 814,248 shares during the last quarter. Cullen Capital Management LLC acquired a new position in National Grid Transco during the 2nd quarter worth $56,462,000. Envestnet Asset Management Inc. increased its position in shares of National Grid Transco by 29.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,774,746 shares of the utilities provider’s stock worth $132,059,000 after purchasing an additional 402,329 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of National Grid Transco by 23.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock worth $151,916,000 after purchasing an additional 382,392 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of National Grid Transco by 20.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock valued at $124,395,000 after purchasing an additional 282,085 shares in the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on NGG shares. National Bank Financial set a $85.50 price target on National Grid Transco in a research note on Friday, December 12th. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Zacks Research raised shares of National Grid Transco from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.80.

National Grid Transco Stock Performance

Shares of NYSE NGG opened at $90.33 on Monday. National Grid Transco, PLC has a 12-month low of $59.35 and a 12-month high of $93.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. The stock’s 50 day simple moving average is $82.33 and its 200 day simple moving average is $76.66.

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.