National Grid Transco (NYSE:NGG) Upgraded to “Strong-Buy” at Zacks Research

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

NGG has been the topic of a number of other research reports. BNP Paribas Exane cut National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. National Bankshares set a $85.50 price target on shares of National Grid Transco in a research note on Friday, December 12th. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

National Grid Transco Price Performance

NGG traded up $1.96 on Monday, hitting $90.72. 330,162 shares of the company were exchanged, compared to its average volume of 770,561. National Grid Transco has a 12 month low of $59.35 and a 12 month high of $90.88. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The stock’s fifty day moving average is $79.77 and its 200-day moving average is $75.54.

Hedge Funds Weigh In On National Grid Transco

Several institutional investors and hedge funds have recently made changes to their positions in NGG. Root Financial Partners LLC boosted its stake in National Grid Transco by 88.2% in the 4th 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. Johnson Financial Group Inc. bought a new stake in shares of National Grid Transco in the third quarter valued at about $25,000. Cullen Frost Bankers Inc. grew its stake in shares of National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in National Grid Transco during the third quarter worth about $28,000. Finally, Salomon & Ludwin LLC raised its stake in National Grid Transco by 4,218.2% in the 3rd quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 464 shares in the last quarter. 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.