National Grid Transco, PLC (NYSE:NGG) Stock Now Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts have a consensus “Hold” rating on National Grid Transco, with eight holds, four buys and two sells among 14 analysts. The average 12-month price target is $80.33.
• NGG opened at $83.95, above its 50-day moving average of $78.30 and near its 200-day average of $83.23; its 52-week trading range is $73.37 to $94.64.
• Institutional investors increased their positions, but hedge funds and other institutions collectively own just 4.68% of the company. National Grid operates electricity transmission networks in Great Britain and regulated utility services in parts of New York and Massachusetts.

National Grid Transco, PLC (NYSE:NGG - Get Free Report) has been given an average recommendation of "Hold" by the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $80.33.

NGG has been the subject of a number of recent analyst reports. Berenberg Bank reiterated a "neutral" rating on shares of National Grid Transco in a research report on Friday, July 10th. UBS Group reiterated a "sell" rating on shares of National Grid Transco in a research note on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of National Grid Transco in a report on Thursday, October 15th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of National Grid Transco in a report on Monday, October 5th. Finally, Sanford C. Bernstein reissued a "buy" rating on shares of National Grid Transco in a research note on Friday, September 25th.

National Grid Transco Stock Performance

NGG opened at $83.95 on Monday. The business has a fifty day moving average of $78.30 and a 200 day moving average of $83.23. National Grid Transco has a 52-week low of $73.37 and a 52-week high of $94.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76.

Hedge Funds Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in National Grid Transco by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 891,393 shares of the utilities provider's stock worth $75,412,000 after acquiring an additional 15,958 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of National Grid Transco by 0.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 444,507 shares of the utilities provider's stock worth $37,605,000 after purchasing an additional 3,649 shares during the last quarter. ABC Arbitrage SA boosted its position in shares of National Grid Transco by 13.7% during the 1st quarter. ABC Arbitrage SA now owns 355,114 shares of the utilities provider's stock worth $30,043,000 after purchasing an additional 42,912 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in shares of National Grid Transco by 24.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 317,204 shares of the utilities provider's stock worth $24,050,000 after buying an additional 62,127 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in shares of National Grid Transco by 27.5% in the 1st quarter. Quantinno Capital Management LP now owns 268,822 shares of the utilities provider's stock valued at $22,742,000 after purchasing an additional 58,057 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

About National Grid Transco

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company headquartered in the United Kingdom. It owns and operates electricity transmission networks in Great Britain and manages infrastructure that supports the movement of electricity from power stations and other generation sources to regional distribution networks.

Through its U.S. operations, National Grid provides regulated electricity and natural gas distribution services to residential, commercial and industrial customers in parts of New York and Massachusetts.

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