National Grid Transco (NYSE:NGG) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded National Grid Transco (NYSE: NGG) from “hold” to “buy,” giving the utility company a more favorable short-term analyst call.
• Overall sentiment remains cautious: among analysts tracked by MarketBeat, one rates it a Buy, seven a Hold, and two a Sell, with a consensus rating of “Reduce” and a target price of $85.50.
• The stock was trading at $82.34, below its 200-day moving average of $85.23, while National Grid Transco continues to operate as a major electricity and natural gas transmission and distribution utility.

National Grid Transco (NYSE:NGG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

NGG has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Royal Bank Of Canada reissued a "sector perform" rating on shares of National Grid Transco in a research report on Monday, June 1st. Morgan Stanley restated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research report on Friday, July 17th. Finally, Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, seven 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 has a consensus rating of "Reduce" and a consensus target price of $85.50.

National Grid Transco Price Performance

Shares of NYSE:NGG opened at $82.34 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The stock's fifty day simple moving average is $82.66 and its two-hundred day simple moving average is $85.23. National Grid Transco has a 1-year low of $67.51 and a 1-year high of $94.64.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Pacific Financial boosted its stake in National Grid Transco by 194,350.0% during the fourth quarter. First Pacific Financial now owns 11,667 shares of the utilities provider's stock valued at $902,000 after buying an additional 11,661 shares during the period. Perpetual Ltd bought a new position in National Grid Transco in the 4th quarter worth about $2,347,000. Miller Howard Investments Inc. NY raised its holdings in shares of National Grid Transco by 23.5% in 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 acquiring an additional 22,898 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of National Grid Transco in the 4th quarter valued at about $464,000. Finally, Bleakley Financial Group LLC boosted its position in shares of National Grid Transco by 54.0% during the 4th quarter. Bleakley Financial Group LLC now owns 21,364 shares of the utilities provider's stock valued at $1,652,000 after acquiring an additional 7,488 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

About National Grid Transco

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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