National Grid Transco, PLC (NYSE:NGG) Receives $83.80 Consensus Price Target from Brokerages

Shares of National Grid Transco, PLC (NYSE:NGG) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $83.80.

Several equities analysts have recently commented on the company. Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. BNP Paribas Exane cut shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. Finally, National Bank Financial set a $85.50 target price on shares of National Grid Transco in a report on Friday, December 12th.

Institutional Investors Weigh In On National Grid Transco

A number of hedge funds and other institutional investors have recently modified their holdings of NGG. Global Retirement Partners LLC bought a new stake in National Grid Transco in the 2nd quarter worth about $487,000. Creative Planning boosted its holdings in shares of National Grid Transco by 23.3% during the 2nd quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after acquiring an additional 16,857 shares during the last quarter. Summit Global Investments boosted its holdings in shares of National Grid Transco by 19.1% during the 2nd quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock valued at $3,985,000 after acquiring an additional 8,603 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of National Grid Transco by 189.2% in the second quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock worth $7,604,000 after acquiring an additional 72,673 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of National Grid Transco by 2.4% during the third quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock valued at $151,855,000 after purchasing an additional 48,048 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Performance

NGG opened at $93.78 on Wednesday. The business’s fifty day simple moving average is $84.00 and its 200 day simple moving average is $77.34. National Grid Transco has a 52 week low of $59.35 and a 52 week high of $94.64. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90.

About National Grid Transco

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.