National Grid Transco (NYSE:NGG) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded National Grid Transco (NYSE:NGG) from a "strong-buy" to a "hold" rating, signaling reduced near-term enthusiasm from that analyst.
• The consensus analyst rating is "Hold" with an average price target of $83.80, based on 4 Buy, 5 Hold and 1 Sell recommendations.
• Shares opened at $89.69 (52‑week range: $61.48–$94.64), and several hedge funds recently increased stakes while institutional ownership sits around 4.68%.

National Grid Transco (NYSE:NGG - Get Free Report) was downgraded by equities researchers at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in 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 downgraded shares of National Grid Transco from an "outperform" rating to an "underperform" rating in a research note on Monday, November 24th. National Bank Financial set a $85.50 price target on shares of National Grid Transco in a research report on Friday, December 12th. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Monday, January 26th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, National Grid Transco currently has a consensus rating of "Hold" and an average target price of $83.80.

National Grid Transco Stock Down 0.2%

NGG opened at $89.69 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The stock's 50 day simple moving average is $86.12 and its 200 day simple moving average is $78.47. National Grid Transco has a 1 year low of $61.48 and a 1 year high of $94.64.

Hedge Funds Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in National Grid Transco in the first quarter valued at $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in National Grid Transco by 79.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider's stock worth $2,360,000 after purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC raised its holdings in National Grid Transco by 12.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider's stock worth $575,000 after purchasing an additional 971 shares in the last quarter. Focus Partners Wealth lifted its position in shares of National Grid Transco by 11.1% in the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider's stock worth $681,000 after purchasing an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in shares of National Grid Transco in the 2nd quarter worth about $221,000. 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.

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