Brokerages Set National Grid Transco, PLC (NYSE:NGG) Target Price at $83.80

National Grid Transco, PLC (NYSE:NGG) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $83.80.

Several research firms recently issued reports on NGG. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. UBS Group restated a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Zacks Research lowered National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, National Bank Financial set a $85.50 target price on National Grid Transco in a research report on Friday, December 12th.

Hedge Funds Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC lifted 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 valued at $25,000 after purchasing an additional 149 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of National Grid Transco in the 3rd quarter worth about $25,000. Cullen Frost Bankers Inc. raised its position in shares of 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 buying an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of National Grid Transco during the 3rd quarter valued at about $28,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco in the 4th quarter valued at about $34,000. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Performance

Shares of NGG stock opened at $82.25 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. National Grid Transco has a 1 year low of $62.13 and a 1 year high of $94.64. The firm has a fifty day moving average price of $87.54 and a 200-day moving average price of $79.59.

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.