National Grid Transco, PLC (NYSE:NGG) Receives Consensus Rating of “Reduce” from Brokerages

National Grid Transco, PLC (NYSE:NGG) has been given a consensus rating of “Reduce” by the ten research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $85.50.

Several brokerages have weighed in on NGG. Jefferies Financial Group reissued a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Finally, Zacks Research lowered National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th.

Hedge Funds Weigh In On National Grid Transco

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its stake in National Grid Transco by 3.9% during the second quarter. Versant Capital Management Inc now owns 9,150 shares of the utilities provider’s stock valued at $758,000 after purchasing an additional 347 shares during the last quarter. Eastern Bank lifted its position in shares of National Grid Transco by 162.1% in the 2nd quarter. Eastern Bank now owns 1,119 shares of the utilities provider’s stock worth $93,000 after buying an additional 692 shares during the last quarter. Empowered Funds LLC bought a new position in shares of National Grid Transco in the 1st quarter worth about $916,000. Parallel Advisors LLC boosted its holdings in shares of National Grid Transco by 8.4% in the 1st quarter. Parallel Advisors LLC now owns 4,251 shares of the utilities provider’s stock valued at $360,000 after buying an additional 328 shares during the period. Finally, Asset Dedication LLC boosted its holdings in shares of National Grid Transco by 245.7% in the 1st quarter. Asset Dedication LLC now owns 1,203 shares of the utilities provider’s stock valued at $102,000 after buying an additional 855 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Stock Performance

Shares of NYSE:NGG traded up $0.83 during midday trading on Tuesday, reaching $83.42. The company had a trading volume of 402,463 shares, compared to its average volume of 1,201,392. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average price is $83.84 and its 200-day moving average price is $84.68. National Grid Transco has a one year low of $67.51 and a one year high of $94.64.

National Grid Transco Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, July 23rd. Investors of record on Friday, May 29th will be given a dividend of $2.1738 per share. This represents a dividend yield of 533.0%. The ex-dividend date of this dividend is 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.