Envestnet Portfolio Solutions Inc. Buys 1,811 Shares of National Grid Transco, PLC $NGG

Envestnet Portfolio Solutions Inc. lifted its stake in National Grid Transco, PLC (NYSE:NGG) by 3.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 53,039 shares of the utilities provider’s stock after acquiring an additional 1,811 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in National Grid Transco were worth $3,947,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its position in National Grid Transco by 48.9% in the second quarter. Sequoia Financial Advisors LLC now owns 16,989 shares of the utilities provider’s stock worth $1,264,000 after purchasing an additional 5,580 shares in the last quarter. Yousif Capital Management LLC raised its position in National Grid Transco by 8.3% in the second quarter. Yousif Capital Management LLC now owns 12,084 shares of the utilities provider’s stock worth $899,000 after purchasing an additional 925 shares in the last quarter. MGO One Seven LLC acquired a new position in National Grid Transco in the second quarter worth about $384,000. Allspring Global Investments Holdings LLC raised its position in National Grid Transco by 3.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,815 shares of the utilities provider’s stock worth $730,000 after purchasing an additional 334 shares in the last quarter. Finally, CWM LLC raised its position in National Grid Transco by 265.8% in the second quarter. CWM LLC now owns 16,290 shares of the utilities provider’s stock worth $1,212,000 after purchasing an additional 11,837 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Performance

NYSE:NGG opened at $75.03 on Thursday. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $75.16. The firm has a 50 day moving average of $71.48 and a 200-day moving average of $71.18. 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 stock has a market capitalization of $74.44 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NGG. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.40.

About National Grid Transco

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.