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

Zacks Research lowered shares of National Grid Transco (NYSE:NGG) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

NGG has been the subject of a number of other research reports. National Bank Financial set a $85.50 price target on National Grid Transco in a research report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. Finally, BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Price Performance

NYSE:NGG opened at $90.72 on Tuesday. The stock has a 50-day simple moving average of $86.38 and a 200 day simple moving average of $78.55. National Grid Transco has a 52-week low of $61.85 and a 52-week high of $94.64. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

Institutional Investors Weigh In On National Grid Transco

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC acquired a new position in National Grid Transco during the first quarter worth $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in National Grid Transco by 79.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after acquiring an additional 15,873 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of National Grid Transco by 12.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 971 shares during the period. Focus Partners Wealth grew its position in shares of National Grid Transco by 11.1% in the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after acquiring an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of National Grid Transco during the 2nd quarter worth about $221,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Company Profile

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.