National Grid Transco (NGG) Upgraded to “Buy” at Zacks Investment Research
National Grid Transco (NYSE:NGG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $65.00 target price on the utilities provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.28% from the stock’s current price.
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. “
Other equities analysts also recently issued research reports about the stock. ValuEngine upgraded shares of National Grid Transco from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of National Grid Transco in a research report on Wednesday, November 15th. Deutsche Bank upgraded shares of National Grid Transco from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th. Credit Suisse Group upgraded shares of National Grid Transco from an “underperform” rating to a “neutral” rating in a research report on Monday, November 27th. Finally, Macquarie upgraded shares of National Grid Transco from a “neutral” rating to an “outperform” rating in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. National Grid Transco presently has an average rating of “Hold” and a consensus price target of $67.00.
Institutional investors and hedge funds have recently made changes to their positions in the company. Capital International Investors grew its stake 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 acquiring an additional 2,024,400 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake 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 acquiring 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 about $30,019,000. Wells Fargo & Company MN grew its stake 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 acquiring 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 about $11,052,000. Institutional investors and hedge funds own 5.58% of the company’s stock.
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About National Grid Transco
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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