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 firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $85.50.

NGG has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Wall Street Zen raised shares of National Grid Transco from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th.

Institutional Investors Weigh In On National Grid Transco

Several hedge funds have recently bought and sold shares of NGG. Bank of America Corp DE grew its holdings in National Grid Transco by 3.4% during the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after purchasing an additional 155,118 shares during the period. Federated Hermes Inc. raised its stake in National Grid Transco by 0.3% in the fourth quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock valued at $245,154,000 after buying an additional 9,928 shares during the period. Milford Funds Ltd. bought a new stake in National Grid Transco in the fourth quarter valued at approximately $183,208,000. Royal Bank of Canada lifted its position in shares of National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after buying an additional 176,840 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of National Grid Transco by 1.4% in the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after buying an additional 29,832 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Down 0.5%

Shares of NYSE NGG opened at $79.99 on Friday. The stock has a 50 day moving average price of $82.16 and a 200 day moving average price of $85.26. National Grid Transco has a 52 week low of $67.51 and a 52 week high of $94.64. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71.

National Grid Transco Announces Dividend

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

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.