Ferguson Wellman Capital Management Inc. Acquires 62,127 Shares of National Grid Transco, PLC $NGG

Ferguson Wellman Capital Management Inc. increased its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 24.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 317,204 shares of the utilities provider’s stock after purchasing an additional 62,127 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in National Grid Transco were worth $24,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Milford Funds Ltd. purchased a new stake in shares of National Grid Transco during the 4th quarter valued at about $183,208,000. Goldman Sachs Group Inc. boosted its position in National Grid Transco by 0.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,101,433 shares of the utilities provider’s stock valued at $162,546,000 after buying an additional 18,663 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of National Grid Transco by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 891,393 shares of the utilities provider’s stock valued at $75,412,000 after acquiring an additional 15,958 shares in the last quarter. Brandes Investment Partners LP purchased a new stake in shares of National Grid Transco during the fourth quarter worth about $60,372,000. Finally, Cullen Capital Management LLC boosted its holdings in National Grid Transco by 4.2% in the fourth quarter. Cullen Capital Management LLC now owns 761,975 shares of the utilities provider’s stock valued at $58,939,000 after purchasing an additional 30,414 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NGG has been the topic of several analyst reports. Wall Street Zen downgraded National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Finally, Sanford C. Bernstein upgraded National Grid Transco to a “strong-buy” rating in a research report on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.50.

National Grid Transco Price Performance

National Grid Transco stock traded down $0.03 during midday trading on Monday, reaching $76.09. 444,019 shares of the stock traded hands, compared to its average volume of 1,081,355. National Grid Transco, PLC has a fifty-two week low of $72.99 and a fifty-two week high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The firm has a fifty day moving average price of $78.55 and a two-hundred day moving average price of $82.35.

About National Grid Transco

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company headquartered in the United Kingdom. The company owns and operates electricity and natural gas networks that deliver energy to homes, businesses and other customers in the United Kingdom and the northeastern United States.

In the UK, National Grid operates the electricity transmission network in England and Wales and the country’s high-pressure gas transmission system. It also develops and operates energy interconnectors and infrastructure that support the connection of renewable generation and the broader transition to a lower-carbon energy system.