National Grid Transco (NYSE:NGG) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of National Grid Transco (NYSE:NGG) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. BNP Paribas Exane began coverage on National Grid Transco in a research report on Thursday, May 29th. They set an “outperform” rating and a $80.40 price target on the stock. Barclays restated an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Royal Bank Of Canada cut shares of National Grid Transco from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, May 28th. Finally, Citigroup restated a “neutral” rating on shares of National Grid Transco in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, National Grid Transco currently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

National Grid Transco Price Performance

Shares of National Grid Transco stock opened at $68.50 on Monday. The company has a 50-day simple moving average of $71.40 and a two-hundred day simple moving average of $69.21. National Grid Transco has a twelve month low of $55.82 and a twelve month high of $74.82. The stock has a market capitalization of $67.97 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.60 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

Institutional Investors Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new position in National Grid Transco in the second quarter valued at about $31,000. Golden State Wealth Management LLC acquired a new position in shares of National Grid Transco in the first quarter valued at approximately $28,000. SJS Investment Consulting Inc. bought a new position in National Grid Transco in the 1st quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in National Grid Transco during the 2nd quarter worth approximately $35,000. Finally, Huntington National Bank boosted its position in National Grid Transco by 41.1% during the 2nd quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock worth $37,000 after buying an additional 146 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.