National Grid Transco, PLC (NYSE:NGG) Receives $85.50 Average Target Price from Brokerages

National Grid Transco, PLC (NYSE:NGG) has received a consensus recommendation of “Reduce” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $85.50.

Several brokerages have recently commented on NGG. Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a report on Tuesday, April 28th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Finally, Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th.

Institutional Investors Weigh In On National Grid Transco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC boosted its position in National Grid Transco by 13.6% during the first quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 129 shares during the period. Natural Investments LLC raised its position in shares of National Grid Transco by 1.2% in the fourth quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 133 shares during the period. Root Financial Partners LLC raised its position in shares of National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. IFP Advisors Inc lifted its stake in shares of National Grid Transco by 28.1% in the third quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock worth $50,000 after buying an additional 152 shares during the last quarter. Finally, Optas LLC lifted its stake in shares of National Grid Transco by 1.9% in the fourth quarter. Optas LLC now owns 8,739 shares of the utilities provider’s stock worth $676,000 after buying an additional 160 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Down 1.3%

NYSE NGG opened at $81.20 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average price of $82.60 and a two-hundred day moving average price of $85.29. National Grid Transco has a 12-month low of $67.51 and a 12-month high of $94.64.

National Grid Transco Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th were issued a dividend of $2.1738 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a dividend yield of 533.0%.

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.