Analysts Set National Grid Transco, PLC (NYSE:NGG) Target Price at $80.40

National Grid Transco, PLC (NYSE:NGG - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $80.40.

Several equities research analysts have weighed in on the stock. BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a research report on Thursday, May 29th. UBS Group cut shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. BNP Paribas Exane assumed coverage on shares of National Grid Transco in a research report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective for the company. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st.

National Grid Transco Price Performance

NGG traded down $0.06 during midday trading on Friday, hitting $70.94. The company had a trading volume of 923,875 shares, compared to its average volume of 757,054. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. The company has a market capitalization of $69.41 billion, a PE ratio of 13.64, a P/E/G ratio of 1.61 and a beta of 0.63. National Grid Transco has a twelve month low of $54.24 and a twelve month high of $74.58. The firm's 50-day simple moving average is $71.75 and its 200-day simple moving average is $66.46.

National Grid Transco Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be given a dividend of $2.0345 per share. This represents a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid Transco's dividend payout ratio is 78.27%.

Institutional Investors Weigh In On National Grid Transco

Several institutional investors have recently modified their holdings of NGG. Federated Hermes Inc. grew its position in shares of National Grid Transco by 49.8% during the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock worth $205,592,000 after buying an additional 1,041,918 shares during the period. Nuveen LLC acquired a new position in National Grid Transco during the first quarter valued at approximately $32,015,000. FMR LLC grew its holdings in National Grid Transco by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock valued at $265,185,000 after purchasing an additional 473,172 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in National Grid Transco by 5,134.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock valued at $19,651,000 after purchasing an additional 324,388 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in National Grid Transco by 22.7% during the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock valued at $91,176,000 after purchasing an additional 256,645 shares during the period. Institutional investors and hedge funds own 4.68% of the company's stock.

About National Grid Transco

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.