National Grid Transco, PLC (NYSE:NGG) Given Average Rating of “Reduce” by Analysts

National Grid Transco, PLC (NYSE:NGG) has received an average recommendation of “Reduce” from the ten brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $85.50.

A number of research firms have recently commented on NGG. Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Wall Street Zen lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Royal Bank Of Canada reiterated a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th.

National Grid Transco Stock Up 1.2%

NGG opened at $82.23 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The business has a 50 day moving average price of $81.68 and a 200 day moving average price of $85.27. National Grid Transco has a twelve month low of $67.51 and a twelve month high of $94.64.

Institutional Trading of National Grid Transco

Several hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its position in shares of National Grid Transco by 13.6% in the first quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 129 shares during the period. Root Financial Partners LLC increased its position in National Grid Transco by 88.2% during the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 149 shares during the period. IFP Advisors Inc increased its position in National Grid Transco by 28.1% during the third quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 152 shares during the period. Optas LLC increased its position in National Grid Transco by 1.9% during the fourth quarter. Optas LLC now owns 8,739 shares of the utilities provider’s stock worth $676,000 after acquiring an additional 160 shares during the period. Finally, Cullen Frost Bankers Inc. raised its stake in National Grid Transco by 88.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Company 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.