Brokerages Set National Grid Transco, PLC (NYSE:NGG) Price Target at $83.80

Shares of National Grid Transco, PLC (NYSE:NGG) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $83.80.

Several analysts have issued reports on the stock. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, April 28th. Jefferies Financial Group reiterated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, March 23rd.

Institutional Trading of National Grid Transco

Hedge funds have recently made changes to their positions in the company. Root Financial Partners LLC raised its stake in shares of National Grid Transco by 88.2% during the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of National Grid Transco during the third quarter valued at approximately $25,000. Cullen Frost Bankers Inc. raised its stake in shares of National Grid Transco by 88.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of National Grid Transco during the third quarter worth approximately $28,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in shares of National Grid Transco during the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Trading Up 0.1%

NYSE NGG opened at $80.74 on Monday. National Grid Transco has a one year low of $67.51 and a one year high of $94.64. The company’s 50 day moving average price is $87.10 and its 200 day moving average price is $83.05. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97.

National Grid Transco Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be paid a dividend of $2.1738 per share. The ex-dividend date is Friday, May 29th. This represents a dividend yield of 542.0%.

National Grid Transco Company Profile

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.