National Grid Transco, PLC (NYSE:NGG) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• National Grid Transco, PLC has received a consensus rating of "Moderate Buy" from nine brokerages, with a 12-month price target averaging $80.40.
• Zacks Research downgraded the company from a "strong-buy" to a "hold" rating on September 1st.
• Several large investors have increased their stakes in National Grid Transco, with Bank of America boosting its ownership by 21.5% during the second quarter.

Shares of National Grid Transco, PLC (NYSE:NGG - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $80.40.

Separately, Zacks Research downgraded shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st.

National Grid Transco Trading Up 1.6%

Shares of NYSE:NGG opened at $71.63 on Friday. National Grid Transco has a fifty-two week low of $55.82 and a fifty-two week high of $74.82. The company has a market cap of $71.07 billion, a PE ratio of 13.78, a P/E/G ratio of 1.62 and a beta of 0.68. The company's 50-day moving average price is $71.07 and its 200 day moving average price is $70.36. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NGG. Bank of America Corp DE increased its stake in National Grid Transco by 21.5% during the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider's stock worth $342,017,000 after purchasing an additional 814,248 shares in the last quarter. Federated Hermes Inc. lifted its holdings in National Grid Transco by 2.1% during 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 holdings in National Grid Transco by 23.0% during 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 holdings in National Grid Transco by 4.9% during 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 increased its position in National Grid Transco by 7.9% during the 1st quarter. Royal Bank of Canada now owns 1,880,406 shares of the utilities provider's stock worth $123,375,000 after buying an additional 137,541 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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