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

Key Points

• National Grid Transco, PLC has received a consensus rating of "Moderate Buy" from analysts, with an average 12-month target price of $80.40.
• Recent ratings changes include a downgrade from Zacks Research and a cut from Royal Bank of Canada, showing mixed analyst sentiment towards the stock.
• The company's stock is currently trading at $67.97, with a market cap of $67.44 billion and a PE ratio of 13.07.

Shares of National Grid Transco, PLC (NYSE:NGG - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $80.40.

NGG has been the topic of a number of recent research reports. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Barclays restated an "overweight" rating on shares of National Grid Transco in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. 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. Finally, Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th.

National Grid Transco Stock Performance

NGG traded up $1.18 on Wednesday, reaching $70.10. The company had a trading volume of 570,025 shares, compared to its average volume of 504,119. 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 has a fifty-two week low of $55.82 and a fifty-two week high of $74.82. The company's fifty day moving average is $71.23 and its 200 day moving average is $69.40. The stock has a market cap of $69.56 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.59 and a beta of 0.68.

Hedge Funds Weigh In On National Grid Transco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in National Grid Transco by 21.5% in the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider's stock valued at $342,017,000 after purchasing an additional 814,248 shares during the last quarter. Federated Hermes Inc. lifted its stake in National Grid Transco by 2.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider's stock valued at $238,112,000 after purchasing an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in National Grid Transco by 23.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider's stock valued at $151,916,000 after purchasing an additional 382,392 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in National Grid Transco by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider's stock valued at $132,064,000 after purchasing an additional 94,839 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in National Grid Transco by 7.9% in the 1st quarter. Royal Bank of Canada now owns 1,880,406 shares of the utilities provider's stock valued at $123,375,000 after purchasing an additional 137,541 shares during the last quarter. Institutional investors 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.