National Grid Transco, PLC (NYSE:NGG) Receives $80.40 Consensus Target Price from Analysts

Shares of National Grid Transco, PLC (NYSE:NGG) have been given an average rating of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $80.40.

Several equities research analysts have recently weighed in on NGG shares. Wall Street Zen downgraded shares of National Grid Transco from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Royal Bank Of Canada downgraded shares of National Grid Transco from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, May 28th. BNP Paribas Exane started coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They issued an “outperform” rating and a $80.40 target price on the stock. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Finally, UBS Group downgraded shares of National Grid Transco from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th.

National Grid Transco Price Performance

Shares of NYSE:NGG opened at $70.80 on Wednesday. The firm has a market cap of $69.28 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 6.13 and a beta of 0.63. The firm has a fifty day moving average price of $71.76 and a 200 day moving average price of $65.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35. National Grid Transco has a fifty-two week low of $53.65 and a fifty-two week high of $73.03.

National Grid Transco Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be paid a $2.0345 dividend. This represents a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 30th. National Grid Transco’s dividend payout ratio is presently 78.27%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in National Grid Transco by 1.9% during the 1st quarter. Rhumbline Advisers now owns 17,184 shares of the utilities provider’s stock valued at $1,127,000 after purchasing an additional 328 shares during the period. Focus Partners Wealth increased its position in National Grid Transco by 11.1% during the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after purchasing an additional 1,036 shares during the period. Integrity Alliance LLC. purchased a new position in National Grid Transco during the 1st quarter valued at about $308,000. RNC Capital Management LLC increased its position in National Grid Transco by 19.4% during the 1st quarter. RNC Capital Management LLC now owns 5,050 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 822 shares during the period. Finally, Guardian Partners Inc. increased its position in National Grid Transco by 0.5% during the 1st quarter. Guardian Partners Inc. now owns 170,671 shares of the utilities provider’s stock valued at $12,239,000 after purchasing an additional 808 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

About National Grid Transco

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.