Jefferies Financial Group Reaffirms Hold Rating for National Grid Transco (NYSE:NGG)

National Grid Transco (NYSE:NGG)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Financial Group in a report released on Wednesday, Marketbeat Ratings reports.

Several other research firms have also commented on NGG. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. National Bank Financial set a $85.50 price objective on National Grid Transco in a research report on Friday, December 12th. 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. Finally, UBS Group reiterated a “sell” rating on shares of National Grid Transco in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.80.

National Grid Transco Stock Down 2.2%

National Grid Transco stock opened at $85.51 on Wednesday. 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 company has a 50-day moving average price of $87.38 and a 200 day moving average price of $79.18. National Grid Transco has a 12-month low of $62.13 and a 12-month high of $94.64.

Hedge Funds Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its stake in National Grid Transco by 3.4% in the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after acquiring an additional 155,118 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of National Grid Transco by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock worth $238,112,000 after purchasing an additional 66,456 shares during the last quarter. Milford Funds Ltd. acquired a new position in shares of National Grid Transco during the fourth quarter worth $183,208,000. Royal Bank of Canada increased its holdings in National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after buying an additional 176,840 shares during the last quarter. Finally, Morgan Stanley raised its stake in National Grid Transco by 1.4% in the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after buying an additional 29,832 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.