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National Grid Transco, PLC (NYSE:NGG) Given Average Rating of "Moderate Buy" by Brokerages

National Grid Transco logo with Utilities background

Key Points

  • National Grid Transco, PLC has received an average rating of "Moderate Buy" from eight brokerages, with a 12-month target price of $80.40.
  • Recent hedge fund activity includes several institutional investors purchasing stakes in National Grid, collectively holding 4.68% of the company's stock.
  • The company recently announced a semi-annual dividend of $2.0345 per share, representing a dividend yield of 470.0% with a payout ratio of 78.27%.
  • Want stock alerts on National Grid Transco? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

National Grid Transco, PLC (NYSE:NGG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $80.40.

NGG has been the topic of a number of recent research reports. BNP Paribas Exane began coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective on the stock. Barclays restated an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th.

View Our Latest Stock Report on National Grid Transco

Hedge Funds Weigh In On National Grid Transco

A number of hedge funds and other institutional investors have recently modified their holdings of NGG. Golden State Wealth Management LLC bought a new stake in National Grid Transco during the first quarter worth $28,000. SJS Investment Consulting Inc. bought a new stake in shares of National Grid Transco during the 1st quarter worth $29,000. Trust Co. of Toledo NA OH purchased a new position in shares of National Grid Transco in the 2nd quarter worth about $31,000. V Square Quantitative Management LLC bought a new position in National Grid Transco during the second quarter valued at about $35,000. Finally, Huntington National Bank grew its position in National Grid Transco by 41.1% during the second quarter. Huntington National Bank now owns 501 shares of the utilities provider's stock valued at $37,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Transco Price Performance

Shares of NGG opened at $72.33 on Thursday. The business's fifty day moving average is $71.77 and its 200 day moving average is $67.88. National Grid Transco has a 12-month low of $55.82 and a 12-month high of $74.82. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The stock has a market cap of $70.90 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.64 and a beta of 0.63.

National Grid Transco Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, May 30th were given a dividend of $2.0345 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 470.0%. National Grid Transco's dividend payout ratio (DPR) is currently 78.27%.

National Grid Transco Company Profile

(Get Free Report)

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

Further Reading

Analyst Recommendations for National Grid Transco (NYSE:NGG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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