National Grid Transco, PLC (NYSE:NGG) Stock Has Average Price Target of $80.33 According to Brokerages

Shares of National Grid Transco, PLC (NYSE:NGG) have earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $80.33.

A number of equities research analysts have recently commented on the company. UBS Group restated a “sell” rating on shares of National Grid Transco in a research report on Monday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of National Grid Transco in a report on Monday, October 5th. Wall Street Zen lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Berenberg Bank reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Friday, July 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, October 15th.

Institutional Trading of National Grid Transco

Institutional investors and hedge funds have recently bought and sold shares of the company. Aberdeen Group plc raised its stake in National Grid Transco by 497.1% in the third quarter. Aberdeen Group plc now owns 48,965 shares of the utilities provider’s stock worth $3,713,000 after buying an additional 40,765 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of National Grid Transco by 4.0% in the 3rd quarter. Moors & Cabot Inc. now owns 6,388 shares of the utilities provider’s stock worth $484,000 after acquiring an additional 246 shares during the last quarter. Allworth Financial LP increased its stake in shares of National Grid Transco by 5.0% during the third quarter. Allworth Financial LP now owns 5,312 shares of the utilities provider’s stock valued at $440,000 after buying an additional 255 shares during the period. Fisher Asset Management LLC grew its stake in National Grid Transco by 3.6% in the third quarter. Fisher Asset Management LLC now owns 23,339 shares of the utilities provider’s stock valued at $1,770,000 after purchasing an additional 802 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in National Grid Transco by 22.8% in the third quarter. Russell Investments Group Ltd. now owns 43,985 shares of the utilities provider’s stock valued at $3,335,000 after buying an additional 8,161 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Transco Trading Down 3.4%

NYSE:NGG opened at $83.04 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco has a one year low of $73.37 and a one year high of $94.64. The company’s 50-day simple moving average is $78.70 and its 200 day simple moving average is $83.35.

National Grid Transco Company Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that operates regulated electricity and gas networks. Its activities include transmitting electricity, distributing energy to homes and businesses, and transporting gas through pipeline systems.

The company serves customers in the United Kingdom and the northeastern United States. Its infrastructure connects energy producers with local distribution networks and end users, supporting the delivery of electricity and gas across these regions.

National Grid Transco was formed in 2002 through the merger of National Grid Group and Lattice Group, then changed its name to National Grid plc in 2005.