National Grid Transco (NYSE:NGG) Rating Increased to Strong-Buy at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of National Grid Transco (NYSE:NGG) to a strong-buy rating in a report issued on Tuesday morning,Zacks reports.

NGG has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Wall Street Zen downgraded National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.50.

National Grid Transco Stock Up 1.4%

NYSE NGG opened at $76.02 on Tuesday. The firm’s 50 day moving average is $80.21 and its 200-day moving average is $83.61. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. National Grid Transco has a 12-month low of $69.99 and a 12-month high of $94.64.

Institutional Trading of National Grid Transco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 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 worth $25,000 after acquiring an additional 149 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of National Grid Transco by 88.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco during the fourth quarter worth approximately $34,000. First Horizon Corp lifted its holdings in National Grid Transco by 235.0% during the 1st quarter. First Horizon Corp now owns 459 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 322 shares during the last quarter. Finally, SHP Wealth Management acquired a new stake in National Grid Transco during the 4th quarter worth approximately $40,000. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Company Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.

In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.