National Grid Transco (NYSE:NGG) Rating Lowered to Hold at Zacks Research

National Grid Transco (NYSE:NGG) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. National Bank Financial set a $85.50 target price on shares of National Grid Transco in a research report on Friday, December 12th. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. BNP Paribas Exane cut National Grid Transco from an “outperform” rating to an “underperform” rating in a report on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, National Grid Transco currently has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Trading Down 0.2%

National Grid Transco stock opened at $89.69 on Tuesday. National Grid Transco has a fifty-two week low of $61.48 and a fifty-two week high of $94.64. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The firm’s fifty day moving average price is $86.12 and its 200-day moving average price is $78.47.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Natural Investments LLC raised its position in National Grid Transco by 1.2% during the 4th quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 133 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of National Grid Transco by 1.9% in the 3rd quarter. HBK Sorce Advisory LLC now owns 7,535 shares of the utilities provider’s stock worth $555,000 after buying an additional 137 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of National Grid Transco by 14.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider’s stock valued at $81,000 after buying an additional 137 shares during the period. Cozad Asset Management Inc. increased its stake in shares of National Grid Transco by 4.4% during the third quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock valued at $241,000 after buying an additional 140 shares during the period. Finally, Carr Financial Group Corp raised its holdings in shares of National Grid Transco by 2.6% during the third quarter. Carr Financial Group Corp now owns 5,634 shares of the utilities provider’s stock valued at $409,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

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.