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

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

NGG has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Finally, Wall Street Zen raised National Grid Transco from a “hold” rating to a “buy” rating in a research note on Saturday.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First Pacific Financial raised its holdings in National Grid Transco by 194,350.0% in the fourth quarter. First Pacific Financial now owns 11,667 shares of the utilities provider’s stock worth $902,000 after buying an additional 11,661 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of National Grid Transco during the fourth quarter valued at approximately $2,347,000. Miller Howard Investments Inc. NY grew its holdings in shares of National Grid Transco by 23.5% during the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider’s stock valued at $10,193,000 after buying an additional 22,898 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in shares of National Grid Transco during the fourth quarter valued at approximately $464,000. Finally, Bleakley Financial Group LLC increased its position in shares of National Grid Transco by 54.0% during the fourth quarter. Bleakley Financial Group LLC now owns 21,364 shares of the utilities provider’s stock valued at $1,652,000 after acquiring an additional 7,488 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Performance

Shares of NYSE NGG opened at $82.34 on Friday. National Grid Transco has a 1 year low of $67.51 and a 1 year high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average is $82.66 and its 200 day moving average is $85.23.

National Grid Transco Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were issued a $2.1738 dividend. This represents a yield of 533.0%. The ex-dividend date was Friday, May 29th.

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.