National Grid Transco (NYSE:NGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

A number of other equities research analysts have also commented on the company. Macquarie raised National Grid Transco from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 19th. Deutsche Bank raised National Grid Transco from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine raised National Grid Transco from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Credit Suisse Group raised National Grid Transco from an “underperform” rating to a “neutral” rating in a research report on Monday, November 27th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of National Grid Transco in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $67.00.

Shares of National Grid Transco (NYSE NGG) opened at $57.58 on Friday. The company has a market capitalization of $39,010.00, a PE ratio of 17.88, a PEG ratio of 4.20 and a beta of 0.44. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.32. National Grid Transco has a 1 year low of $56.63 and a 1 year high of $75.24.

A number of institutional investors have recently made changes to their positions in NGG. Capital International Investors raised its position in National Grid Transco by 302.5% in the 3rd quarter. Capital International Investors now owns 2,693,566 shares of the utilities provider’s stock valued at $168,914,000 after buying an additional 2,024,400 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in National Grid Transco by 172.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,263,824 shares of the utilities provider’s stock valued at $79,393,000 after buying an additional 799,514 shares during the last quarter. Mondrian Investment Partners LTD acquired a new stake in National Grid Transco in the 3rd quarter valued at approximately $30,019,000. Wells Fargo & Company MN raised its position in National Grid Transco by 11.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,871,386 shares of the utilities provider’s stock valued at $117,355,000 after buying an additional 189,757 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in National Grid Transco in the 3rd quarter valued at approximately $11,052,000. 5.60% of the stock is currently owned by institutional investors and hedge funds.

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National Grid Transco Company Profile

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

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