National Grid Transco (NYSE:NGG) Given Sell Rating at UBS Group

UBS Group reiterated their sell rating on shares of National Grid Transco (NYSE:NGG) in a report published on Monday morning, Marketbeat.com reports.

A number of other research firms have also recently commented on NGG. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. National Bank Financial set a $85.50 price objective on National Grid Transco in a report on Friday, December 12th. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Finally, Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Trading Down 0.0%

NYSE:NGG opened at $90.88 on Monday. 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 moving average price of $86.88 and a 200 day moving average price of $78.94. National Grid Transco has a fifty-two week low of $62.13 and a fifty-two week high of $94.64.

Institutional Trading of National Grid Transco

A number of large investors have recently modified their holdings of NGG. Bank of America Corp DE raised its stake in shares of 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 valued at $345,292,000 after acquiring an additional 155,118 shares in the last quarter. Federated Hermes Inc. grew its stake in 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 in the last quarter. Milford Funds Ltd. purchased a new stake in National Grid Transco during the 4th quarter worth about $183,208,000. Royal Bank of Canada increased its holdings in National Grid Transco by 8.3% during the 4th quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock worth $178,945,000 after purchasing an additional 176,840 shares during the period. Finally, Morgan Stanley raised its position in National Grid Transco by 1.4% in the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after purchasing 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.