National Grid Transco, PLC (NYSE:NGG) Receives Average Recommendation of "Reduce" from Brokerages

Key Points

• National Grid Transco has a consensus analyst rating of “Reduce”, with 2 sell ratings, 7 hold ratings, and just 1 buy rating among the 10 analysts covering the stock.
• The average 12-month price target from analysts is $85.50, while shares recently opened at $82.34 and have traded between $67.51 and $94.64 over the past year.
• The company recently paid a dividend of $2.1738 per share, and institutional investors have been adding to positions, though hedge funds and other institutions own only 4.68% of the stock.

Shares of National Grid Transco, PLC (NYSE:NGG - Get Free Report) have been given a consensus rating of "Reduce" by the ten analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $85.50.

Several analysts have weighed in on NGG shares. Morgan Stanley reiterated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research note on Friday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of National Grid Transco in a report on Monday, June 1st. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of National Grid Transco from a "buy" rating to a "hold" rating in a report on Monday, June 8th.

National Grid Transco Trading Down 0.0%

NGG opened at $82.34 on Friday. National Grid Transco has a 12 month low of $67.51 and a 12 month high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The business's 50-day moving average price is $82.66 and its 200-day moving average price is $85.23.

National Grid Transco Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th were issued a dividend of $2.1738 per share. This represents a dividend yield of 533.0%. The ex-dividend date was Friday, May 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of National Grid Transco in the 1st quarter worth approximately $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of National Grid Transco by 79.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider's stock valued at $2,360,000 after acquiring an additional 15,873 shares in the last quarter. NewEdge Advisors LLC lifted its stake in National Grid Transco by 12.5% in the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider's stock worth $575,000 after acquiring an additional 971 shares during the period. Focus Partners Wealth lifted its stake in National Grid Transco by 11.1% in the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider's stock worth $681,000 after acquiring an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in National Grid Transco in the second quarter valued at $221,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

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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