National Grid Transco, PLC (NYSE:NGG) Receives $85.50 Consensus PT from Analysts

Shares of National Grid Transco, PLC (NYSE:NGG) have earned a consensus recommendation of “Reduce” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $85.50.

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday. Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a report on Monday, March 16th. Finally, Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th.

National Grid Transco Price Performance

Shares of NGG opened at $81.58 on Friday. National Grid Transco has a 12 month low of $67.51 and a 12 month high of $94.64. The stock’s 50-day moving average price is $85.73 and its two-hundred day moving average price is $83.94. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.

National Grid Transco Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be paid a $2.1738 dividend. This represents a dividend yield of 533.0%. The ex-dividend date of this dividend is Friday, May 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NGG. Milford Funds Ltd. acquired a new position in shares of National Grid Transco in the 4th quarter valued at about $183,208,000. SG Americas Securities LLC lifted its stake in shares of National Grid Transco by 47,478.9% in the 4th quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider’s stock valued at $69,041,000 after purchasing an additional 890,704 shares during the period. Bank of America Corp DE lifted its stake in shares of National Grid Transco by 21.5% in the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after purchasing an additional 814,248 shares during the period. Brandes Investment Partners LP acquired a new position in shares of National Grid Transco in the 4th quarter valued at about $60,372,000. Finally, Bank of Montreal Can lifted its stake in shares of National Grid Transco by 67.4% in the 3rd quarter. Bank of Montreal Can now owns 1,669,191 shares of the utilities provider’s stock valued at $121,300,000 after purchasing an additional 672,050 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

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.