National Grid Transco, PLC (NYSE:NGG) Given Average Rating of “Hold” by Brokerages

National Grid Transco, PLC (NYSE:NGG) has earned an average rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $82.95.

A number of brokerages have weighed in on NGG. 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. National Bankshares set a $85.50 price objective on National Grid Transco in a research note on Friday. BNP Paribas lowered shares of National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, November 24th. Morgan Stanley began coverage on shares of National Grid Transco in a research note on Friday. They set an “overweight” rating on the stock. Finally, Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st.

National Grid Transco Trading Up 0.0%

Shares of National Grid Transco stock opened at $74.65 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. National Grid Transco has a 52 week low of $55.82 and a 52 week high of $78.49. The business’s fifty day simple moving average is $75.71 and its 200-day simple moving average is $72.95.

National Grid Transco Dividend Announcement

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

Institutional Investors Weigh In On National Grid Transco

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of National Grid Transco by 3.4% in the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after acquiring an additional 155,118 shares during the last quarter. Federated Hermes Inc. grew its position in shares of National Grid Transco by 2.1% in the 2nd quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after buying an additional 66,456 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of National Grid Transco by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock valued at $151,855,000 after buying an additional 48,048 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of National Grid Transco by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider’s stock worth $132,064,000 after purchasing an additional 94,839 shares in the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of National Grid Transco by 1.9% in the 3rd quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock valued at $146,150,000 after purchasing an additional 36,984 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

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.