Analysts Set National Grid Transco, PLC (NYSE:NGG) Price Target at $85.50

Shares of National Grid Transco, PLC (NYSE:NGG) have been assigned an average rating of “Reduce” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $85.50.

NGG has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Finally, Wall Street Zen lowered National Grid Transco from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd.

National Grid Transco Trading Up 1.0%

National Grid Transco stock opened at $81.20 on Wednesday. National Grid Transco has a 12-month low of $67.51 and a 12-month high of $94.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The firm has a 50-day moving average price of $81.58 and a 200-day moving average price of $85.08.

Institutional Trading of National Grid Transco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of National Grid Transco by 3.4% during the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after purchasing an additional 155,118 shares during the period. Federated Hermes Inc. increased its stake in National Grid Transco by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock worth $245,154,000 after buying an additional 9,928 shares during the period. Milford Funds Ltd. purchased a new position in National Grid Transco in the 4th quarter worth about $183,208,000. Royal Bank of Canada lifted its holdings in National Grid Transco by 8.3% during the 4th quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after buying an additional 176,840 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in National Grid Transco by 1.4% during the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after buying an additional 29,832 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Company Profile

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.