The Goldman Sachs Group Reaffirms Neutral Rating for National Grid Transco (NYSE:NGG)

National Grid Transco (NYSE:NGG)‘s stock had its “neutral” rating reiterated by investment analysts at The Goldman Sachs Group in a note issued to investors on Monday.

A number of other equities research analysts have also recently weighed in on NGG. UBS Group reaffirmed a “sell” rating on shares of National Grid Transco in a report on Monday, March 16th. Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. BNP Paribas Exane downgraded shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, National Grid Transco presently has an average rating of “Hold” and an average price target of $83.80.

National Grid Transco Stock Performance

NYSE:NGG opened at $81.95 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. National Grid Transco has a 1 year low of $62.13 and a 1 year high of $94.64. The firm has a 50 day moving average of $87.41 and a 200-day moving average of $79.41.

Institutional Trading of National Grid Transco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in National Grid Transco by 3.4% during the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after purchasing an additional 155,118 shares during the period. Federated Hermes Inc. raised its stake in shares of National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock worth $238,112,000 after buying an additional 66,456 shares during the last quarter. Milford Funds Ltd. bought a new stake in shares of National Grid Transco during the fourth quarter worth approximately $183,208,000. Royal Bank of Canada lifted its holdings in National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after buying an additional 176,840 shares during the period. Finally, Morgan Stanley lifted its holdings in National Grid Transco by 1.4% in the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after buying an additional 29,832 shares during the period. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.