National Grid Transco, PLC (NYSE:NGG) was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of National Grid Transco, PLC from a “buy” rating to a “hold” rating in a report on Friday. Berenberg Bank cut shares of National Grid Transco, PLC from a “buy” rating to a “hold” rating in a report on Thursday, May 11th. BidaskClub cut shares of National Grid Transco, PLC from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Bank of America Corporation raised shares of National Grid Transco, PLC from a “neutral” rating to a “buy” rating in a report on Monday, May 15th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $69.00 price objective on shares of National Grid Transco, PLC in a report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $71.00.

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

Shares of National Grid Transco, PLC (NYSE:NGG) traded down 0.4406% during midday trading on Tuesday, hitting $65.4006. 106,810 shares of the stock were exchanged. National Grid Transco, PLC has a 12-month low of $61.64 and a 12-month high of $81.79. The firm has a market cap of $45.01 billion, a P/E ratio of 4.5895 and a beta of 0.46. The firm has a 50 day moving average of $69.85 and a 200 day moving average of $66.89.

The business also recently announced a special dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, June 2nd will be given a $1.872 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This is a positive change from National Grid Transco, PLC’s previous special dividend of $0.93.

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A number of institutional investors have recently made changes to their positions in the stock. Ballentine Partners LLC bought a new position in shares of National Grid Transco, PLC during the first quarter worth about $280,000. Cambridge Trust Co. raised its position in shares of National Grid Transco, PLC by 160.4% in the first quarter. Cambridge Trust Co. now owns 102,524 shares of the utilities provider’s stock worth $6,508,000 after buying an additional 63,157 shares in the last quarter. Aristotle Capital Management LLC raised its position in shares of National Grid Transco, PLC by 22.5% in the first quarter. Aristotle Capital Management LLC now owns 97,489 shares of the utilities provider’s stock worth $6,189,000 after buying an additional 17,891 shares in the last quarter. Bainco International Investors bought a new position in shares of National Grid Transco, PLC during the first quarter worth about $207,000. Finally, Cypress Wealth Advisors LLC bought a new position in shares of National Grid Transco, PLC during the first quarter worth about $214,000. Hedge funds and other institutional investors own 5.71% 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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