Evergreen Capital Management LLC Acquires 6,455 Shares of National Grid Transco, PLC $NGG

Evergreen Capital Management LLC lifted its stake in National Grid Transco, PLC (NYSE:NGG) by 105.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,570 shares of the utilities provider’s stock after acquiring an additional 6,455 shares during the period. Evergreen Capital Management LLC’s holdings in National Grid Transco were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. grew its position in National Grid Transco by 64.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 798 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 312 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of National Grid Transco in the third quarter valued at about $1,092,000. Versant Capital Management Inc grew its position in National Grid Transco by 6.4% during the third quarter. Versant Capital Management Inc now owns 6,627 shares of the utilities provider’s stock worth $482,000 after buying an additional 397 shares in the last quarter. Henry James International Management Inc. grew its position in National Grid Transco by 2.7% during the third quarter. Henry James International Management Inc. now owns 30,268 shares of the utilities provider’s stock worth $2,200,000 after buying an additional 795 shares in the last quarter. Finally, Eastern Bank increased its stake in National Grid Transco by 50.9% during the third quarter. Eastern Bank now owns 984 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 332 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Performance

National Grid Transco stock opened at $80.85 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. National Grid Transco, PLC has a one year low of $59.06 and a one year high of $80.89. The business has a 50 day simple moving average of $77.05 and a 200 day simple moving average of $74.05.

National Grid Transco Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, January 13th. Shareholders of record on Friday, November 21st were paid a dividend of $1.0657 per share. This represents a yield of 284.0%. The ex-dividend date was Friday, November 21st.

Analysts Set New Price Targets

A number of analysts have commented on NGG shares. Morgan Stanley initiated coverage on National Grid Transco in a research report on Friday, December 12th. They issued an “overweight” rating and a $85.50 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Wednesday, October 8th. National Bankshares set a $85.50 target price on National Grid Transco in a research report on Friday, December 12th. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a report on Monday, November 24th. Finally, BNP Paribas cut shares of National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.80.

About National Grid Transco

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.