National Grid Transco (NYSE:NGG) Cut to Strong Sell at BNP Paribas

BNP Paribas cut shares of National Grid Transco (NYSE:NGG) from a strong-buy rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on NGG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. BNP Paribas Exane downgraded shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday. Finally, Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.40.

National Grid Transco Stock Performance

Shares of NGG stock opened at $75.48 on Monday. National Grid Transco has a fifty-two week low of $55.82 and a fifty-two week high of $78.49. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The stock has a 50 day moving average price of $74.82 and a two-hundred day moving average price of $72.63.

National Grid Transco Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Friday, November 21st will be paid a dividend of $1.0657 per share. This represents a yield of 284.0%. The ex-dividend date of this dividend is Friday, November 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrity Alliance LLC. acquired a new position in National Grid Transco in the first quarter valued at about $308,000. Creative Planning increased its stake in shares of National Grid Transco by 23.3% in 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 raised its position in shares of National Grid Transco by 19.1% in 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 period. Goldman Sachs Group Inc. boosted its stake in National Grid Transco by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider’s stock worth $132,064,000 after acquiring an additional 94,839 shares during the last quarter. Finally, First Bank & Trust grew its holdings in National Grid Transco by 16.5% during the second quarter. First Bank & Trust now owns 53,452 shares of the utilities provider’s stock valued at $3,977,000 after purchasing an additional 7,551 shares during the period. 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.