Weiss Ratings Reiterates "Hold (C)" Rating for National Grid Transco (NYSE:NGG)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for National Grid Transco (NYSE:NGG), while Zacks Research has downgraded its rating from "strong-buy" to "hold".
• National Grid Transco's stock increased by 0.2% to $73.79, with a market capitalization of $73.21 billion and a consensus price target of $80.40.
• Institutional investors are actively adjusting their holdings in National Grid, with significant increases in stakes from firms such as Allspring Global Investments, which raised its stake by 97.3% in the first quarter.

National Grid Transco (NYSE:NGG - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research downgraded National Grid Transco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, National Grid Transco has a consensus rating of "Moderate Buy" and a consensus price target of $80.40.

National Grid Transco Stock Up 0.2%

National Grid Transco stock traded up $0.18 during trading hours on Wednesday, hitting $73.79. The company had a trading volume of 134,157 shares, compared to its average volume of 824,825. 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 debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The firm has a market capitalization of $73.21 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.67 and a beta of 0.70. The firm's fifty day moving average is $71.26 and its 200-day moving average is $70.83.

Hedge Funds Weigh In On National Grid Transco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of National Grid Transco in the 1st quarter valued at $28,000. Cambridge Investment Research Advisors Inc. boosted its position in National Grid Transco by 3.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,826 shares of the utilities provider's stock valued at $907,000 after buying an additional 500 shares in the last quarter. Integrity Alliance LLC. bought a new stake in National Grid Transco during the first quarter worth about $308,000. Kingswood Wealth Advisors LLC increased its holdings in shares of National Grid Transco by 25.5% during the first quarter. Kingswood Wealth Advisors LLC now owns 6,056 shares of the utilities provider's stock worth $398,000 after buying an additional 1,231 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of National Grid Transco by 97.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,481 shares of the utilities provider's stock valued at $624,000 after acquiring an additional 4,675 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors.

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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