Jefferies Financial Group Reaffirms "Hold" Rating for National Grid Transco (NYSE:NGG)

Key Points

• Jefferies reaffirmed its "Hold" rating on National Grid Transco, and analysts' consensus is a Hold (3 Buy, 5 Hold, 2 Sell) with an average target price of $83.80.
• The stock opened at $90.40, trading above the consensus target and its 200‑day moving average ($79.08), with a 12‑month range of $62.13 to $94.64.
• Institutional activity included Rockefeller Capital increasing its stake by 67% to 16,166 shares, while hedge funds and other institutions collectively own about 4.68% of the stock.

National Grid Transco (NYSE:NGG - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Jefferies Financial Group in a research note issued on Wednesday, Marketbeat reports.

A number of other research firms also recently issued reports on NGG. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a research note on Thursday, February 5th. BNP Paribas Exane cut shares of National Grid Transco from an "outperform" rating to an "underperform" rating in a research report on Monday, November 24th. Zacks Research downgraded shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 10th. Weiss Ratings reissued a "hold (c)" rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Finally, UBS Group restated a "sell" rating on shares of National Grid Transco in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, National Grid Transco presently has a consensus rating of "Hold" and an average target price of $83.80.

National Grid Transco Stock Performance

NYSE NGG opened at $90.40 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The firm's 50-day moving average is $87.10 and its two-hundred day moving average is $79.08. National Grid Transco has a 12 month low of $62.13 and a 12 month high of $94.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. increased its stake in National Grid Transco by 67.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 16,166 shares of the utilities provider's stock worth $1,251,000 after buying an additional 6,486 shares during the period. World Investment Advisors lifted its holdings in National Grid Transco by 7.7% during the 4th quarter. World Investment Advisors now owns 9,952 shares of the utilities provider's stock worth $770,000 after buying an additional 708 shares in the last quarter. Bayban purchased a new position in National Grid Transco in the 4th quarter valued at approximately $137,000. Pure Financial Advisors LLC purchased a new position in National Grid Transco in the 4th quarter valued at approximately $296,000. Finally, Rehmann Capital Advisory Group grew its stake in shares of National Grid Transco by 54.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 10,960 shares of the utilities provider's stock worth $848,000 after acquiring an additional 3,861 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.