National Grid Transco (NYSE:NGG) Raised to “Strong-Buy” at Sanford C. Bernstein

National Grid Transco (NYSE:NGG) was upgraded by Sanford C. Bernstein to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

A number of other research analysts also recently weighed in on NGG. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Wall Street Zen lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.50.

National Grid Transco Trading Up 1.4%

Shares of NYSE:NGG opened at $76.02 on Tuesday. National Grid Transco has a fifty-two week low of $69.99 and a fifty-two week high of $94.64. The business has a 50-day moving average of $80.21 and a two-hundred day moving average of $83.61. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.

Institutional Trading of National Grid Transco

Hedge funds have recently added to or reduced their stakes in the business. Milford Funds Ltd. bought a new position in National Grid Transco in the 4th quarter worth approximately $183,208,000. Natixis Advisors LLC grew its stake in shares of National Grid Transco by 8.8% in the fourth quarter. Natixis Advisors LLC now owns 2,187,358 shares of the utilities provider’s stock worth $169,192,000 after acquiring an additional 176,215 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of National Grid Transco by 0.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,101,433 shares of the utilities provider’s stock worth $162,546,000 after acquiring an additional 18,663 shares during the last quarter. Dimensional Fund Advisors LP increased its position in National Grid Transco by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 891,393 shares of the utilities provider’s stock worth $75,412,000 after acquiring an additional 15,958 shares during the period. Finally, Brandes Investment Partners LP bought a new position in National Grid Transco during the fourth quarter worth $60,372,000. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Company Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.

In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.