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

Key Points

• Sanford C. Bernstein upgraded National Grid Transco to “strong buy,” although the broader analyst consensus remains “hold,” with seven hold, two sell, and one strong-buy rating.
• NGG shares were trading at $76.02, up 1.4%, below the consensus price target of $85.50 and within a 12-month range of $69.99 to $94.64.
• Several institutional investors increased their positions or initiated new stakes, but institutional ownership remains relatively low at 4.68%.

National Grid Transco (NYSE:NGG - Get Free Report) was upgraded by investment analysts at Sanford C. Bernstein to a "strong-buy" rating in a research note issued on Tuesday, Zacks reports.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Morgan Stanley reiterated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 29th. Royal Bank Of Canada restated a "sector perform" rating on shares of National Grid Transco in a research note on Monday, June 1st. Finally, Wall Street Zen lowered shares of National Grid Transco from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, National Grid Transco presently has an average rating of "Hold" and a consensus target price of $85.50.

National Grid Transco Trading Up 1.4%

National Grid Transco stock opened at $76.02 on Tuesday. National Grid Transco has a 12-month low of $69.99 and a 12-month high of $94.64. 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 firm's fifty day moving average price is $80.21 and its 200 day moving average price is $83.61.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NGG. First Trust Advisors LP raised its stake in National Grid Transco by 44.1% during the 1st quarter. First Trust Advisors LP now owns 26,665 shares of the utilities provider's stock valued at $2,256,000 after purchasing an additional 8,162 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in shares of National Grid Transco by 23.5% during the 1st quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider's stock valued at $10,193,000 after buying an additional 22,898 shares during the last quarter. William John Sempolinski bought a new stake in National Grid Transco in the second quarter worth approximately $1,138,000. Ferguson Wellman Capital Management Inc. bought a new stake in National Grid Transco in the first quarter worth $21,277,000. Finally, Quantinno Capital Management LP increased its holdings in shares of National Grid Transco by 27.5% during the 1st quarter. Quantinno Capital Management LP now owns 268,822 shares of the utilities provider's stock valued at $22,742,000 after acquiring an additional 58,057 shares during the last quarter. 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.

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