Zacks Investment Research upgraded shares of National Grid Transco, PLC (NYSE:NGG) from a sell rating to a hold rating in a report issued on Wednesday.

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 research analysts have also issued research reports about the company. HSBC Holdings plc raised National Grid Transco, PLC from a hold rating to a buy rating in a research report on Thursday, July 13th. Citigroup Inc. raised National Grid Transco, PLC from a neutral rating to a buy rating in a research report on Tuesday, June 20th. BidaskClub lowered National Grid Transco, PLC from a strong-buy rating to a buy rating in a research report on Wednesday, June 14th. Bank of America Corporation raised National Grid Transco, PLC from a neutral rating to a buy rating in a research report on Monday, May 15th. Finally, Barclays PLC reaffirmed an equal weight rating and set a $69.00 price target on shares of National Grid Transco, PLC in a research report on Friday, May 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. National Grid Transco, PLC presently has an average rating of Hold and a consensus price target of $70.50.

Shares of National Grid Transco, PLC (NYSE NGG) opened at 62.21 on Wednesday. The company has a market cap of $42.81 billion, a PE ratio of 4.27 and a beta of 0.45. National Grid Transco, PLC has a 12 month low of $60.08 and a 12 month high of $79.62. The firm’s 50-day moving average price is $63.11 and its 200-day moving average price is $66.64.

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The firm also recently announced a special dividend, which will be paid on Wednesday, August 16th. Stockholders of record on Friday, June 2nd will be paid a dividend of $1.872 per share. This is an increase from National Grid Transco, PLC’s previous special dividend of $0.93. The ex-dividend date is Wednesday, May 31st.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Miller Howard Investments Inc. NY increased its stake in shares of National Grid Transco, PLC by 814.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,248,874 shares of the utilities provider’s stock worth $79,279,000 after buying an additional 1,112,329 shares in the last quarter. Jane Street Group LLC increased its stake in shares of National Grid Transco, PLC by 116.3% in the first quarter. Jane Street Group LLC now owns 1,022,460 shares of the utilities provider’s stock worth $64,906,000 after buying an additional 549,785 shares in the last quarter. Global Financial Private Capital LLC purchased a new stake in shares of National Grid Transco, PLC during the first quarter worth approximately $28,567,000. Wells Fargo & Company MN increased its stake in shares of National Grid Transco, PLC by 18.4% in the first quarter. Wells Fargo & Company MN now owns 1,910,886 shares of the utilities provider’s stock worth $121,304,000 after buying an additional 296,460 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of National Grid Transco, PLC during the first quarter worth approximately $15,315,000. Institutional investors own 5.73% of the company’s stock.

National Grid Transco, PLC 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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Analyst Recommendations for National Grid Transco, PLC (NYSE:NGG)

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