Plimoth Trust Co. LLC Cuts Position in National Grid Transco, PLC $NGG

Plimoth Trust Co. LLC decreased its position in shares of National Grid Transco, PLC (NYSE:NGG) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,631 shares of the utilities provider’s stock after selling 185 shares during the period. Plimoth Trust Co. LLC’s holdings in National Grid Transco were worth $717,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC grew its position in National Grid Transco by 10.1% during the second quarter. DAVENPORT & Co LLC now owns 89,706 shares of the utilities provider’s stock valued at $6,675,000 after acquiring an additional 8,209 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in National Grid Transco by 6.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,483 shares of the utilities provider’s stock worth $259,000 after purchasing an additional 226 shares during the last quarter. Hennessy Advisors Inc. boosted its position in National Grid Transco by 5.9% during the second quarter. Hennessy Advisors Inc. now owns 211,044 shares of the utilities provider’s stock valued at $15,704,000 after buying an additional 11,700 shares during the period. QRG Capital Management Inc. increased its holdings in shares of National Grid Transco by 50.0% in the second quarter. QRG Capital Management Inc. now owns 83,182 shares of the utilities provider’s stock worth $6,190,000 after buying an additional 27,741 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of National Grid Transco in the 2nd quarter valued at about $168,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Stock Up 1.2%

Shares of NYSE NGG opened at $73.40 on Monday. The firm has a fifty day simple moving average of $71.05 and a two-hundred day simple moving average of $70.71. National Grid Transco, PLC has a 12 month low of $55.82 and a 12 month high of $74.82. 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 firm has a market capitalization of $72.83 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70.

Analyst Ratings Changes

A number of brokerages have commented on NGG. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.40.

National Grid Transco Profile

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.