National Grid Transco, PLC (NYSE:NGG) Given Average Recommendation of “Moderate Buy” by Analysts

National Grid Transco, PLC (NYSE:NGG) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $80.40.

Several brokerages have recently weighed in on NGG. Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th.

National Grid Transco Stock Up 0.3%

Shares of National Grid Transco stock opened at $77.15 on Thursday. The business has a 50-day moving average of $72.38 and a 200-day moving average of $71.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco has a 1-year low of $55.82 and a 1-year high of $77.35.

Hedge Funds Weigh In On National Grid Transco

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in National Grid Transco by 21.5% in the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock worth $342,017,000 after acquiring an additional 814,248 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after buying an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of National Grid Transco by 23.0% during the second quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock valued at $151,916,000 after buying an additional 382,392 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of National Grid Transco by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider’s stock valued at $132,064,000 after buying an additional 94,839 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of National Grid Transco by 7.9% during the first quarter. Royal Bank of Canada now owns 1,880,406 shares of the utilities provider’s stock valued at $123,375,000 after buying an additional 137,541 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Company 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.