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

Shares of National Grid Transco, PLC (NYSE:NGG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Three 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 price target among brokers that have issued a report on the stock in the last year is $80.40.

NGG has been the subject of several analyst reports. Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Sanford C. Bernstein upgraded National Grid Transco from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. Finally, BNP Paribas Exane assumed coverage on National Grid Transco in a research note on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target for the company.

Institutional Investors Weigh In On National Grid Transco

Several institutional investors and hedge funds have recently added to or reduced their stakes in NGG. Federated Hermes Inc. boosted its position in shares of National Grid Transco by 49.8% in the first 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 purchased a new stake in shares of National Grid Transco in the first quarter worth about $32,015,000. FMR LLC boosted its position in shares of National Grid Transco by 11.9% in the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider's stock worth $265,185,000 after buying an additional 473,172 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of National Grid Transco by 5,134.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 330,706 shares of the utilities provider's stock worth $19,651,000 after buying an additional 324,388 shares during the period. Finally, Raymond James Financial Inc. boosted its position in shares of National Grid Transco by 22.7% in the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider's stock worth $91,176,000 after buying an additional 256,645 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Trading Down 0.7%

National Grid Transco stock traded down $0.50 during trading on Friday, hitting $70.15. The company's stock had a trading volume of 940,807 shares, compared to its average volume of 756,614. The stock has a market capitalization of $68.64 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.64 and a beta of 0.63. The stock's fifty day moving average is $71.79 and its 200 day moving average is $66.30. National Grid Transco has a 1-year low of $54.24 and a 1-year high of $74.58. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35.

National Grid Transco Cuts Dividend

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

National Grid Transco Company Profile

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.