National Grid Transco (NYSE:NGG) Given “Hold” Rating at Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of National Grid Transco (NYSE:NGG) in a research report released on Wednesday, Marketbeat reports.

Other equities research analysts also recently issued reports about the company. Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. National Bank Financial set a $85.50 target price on shares of National Grid Transco in a research note on Friday, December 12th. BNP Paribas Exane cut National Grid Transco from an “outperform” rating to an “underperform” rating in a 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 analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.80.

National Grid Transco Stock Down 3.4%

Shares of National Grid Transco stock opened at $87.37 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The company has a 50-day simple moving average of $87.25 and a two-hundred day simple moving average of $79.13. National Grid Transco has a 52-week low of $62.13 and a 52-week high of $94.64.

Institutional Investors Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in National Grid Transco in the 1st quarter worth about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in National Grid Transco by 79.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of National Grid Transco by 12.5% in the first 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 in the last quarter. Focus Partners Wealth lifted 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 worth $681,000 after purchasing an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in National Grid Transco during the second quarter worth $221,000. Hedge funds and other institutional investors 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.