National Grid Transco, PLC (NYSE:NGG) Receives Consensus Recommendation of "Reduce" from Analysts

Key Points

• Analysts have a consensus “Reduce” rating on National Grid Transco, with two sell ratings, seven holds and one buy. The average 12-month price target is $85.50.
• NGG opened at $76.88, below its 50-day moving average of $80.67 and 200-day moving average of $84.04; the stock’s 52-week range is $69.99 to $94.64.
• Several hedge funds increased their positions in the company during the second quarter, although institutional investors collectively own only 4.68% of its shares.

National Grid Transco, PLC (NYSE:NGG - Get Free Report) has earned a consensus recommendation of "Reduce" from the ten research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $85.50.

Several research firms have recently issued reports on NGG. Weiss Ratings restated a "hold (c)" rating on shares of National Grid Transco in a report on Friday, July 17th. Wall Street Zen downgraded shares of 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 report on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded shares of National Grid Transco from a "buy" rating to a "hold" rating in a research note on Monday, June 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 29th.

National Grid Transco Price Performance

NYSE NGG opened at $76.88 on Friday. 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 has a 52 week low of $69.99 and a 52 week high of $94.64. The company has a fifty day moving average of $80.67 and a two-hundred day moving average of $84.04.

Hedge Funds Weigh In On National Grid Transco

Several hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC increased its stake in National Grid Transco by 6.5% in the second quarter. Sequoia Financial Advisors LLC now owns 20,560 shares of the utilities provider's stock worth $1,704,000 after purchasing an additional 1,255 shares during the period. Tidal Investments LLC boosted its stake in shares of National Grid Transco by 4.4% during the second quarter. Tidal Investments LLC now owns 127,969 shares of the utilities provider's stock valued at $10,605,000 after purchasing an additional 5,404 shares during the period. Engineers Gate Manager LP boosted its stake in shares of National Grid Transco by 73.7% during the second quarter. Engineers Gate Manager LP now owns 28,117 shares of the utilities provider's stock valued at $2,330,000 after purchasing an additional 11,927 shares during the period. NewEdge Advisors LLC boosted its stake in shares of National Grid Transco by 14.7% during the second quarter. NewEdge Advisors LLC now owns 7,701 shares of the utilities provider's stock valued at $638,000 after purchasing an additional 988 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of National Grid Transco by 25.4% in the second quarter. IFP Advisors Inc now owns 5,046 shares of the utilities provider's stock worth $418,000 after purchasing an additional 1,023 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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