National Grid Transco (NYSE:NGG) Stock Rating Upgraded by Wall Street Zen

National Grid Transco (NYSE:NGG) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other equities analysts have also commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $85.50.

National Grid Transco Price Performance

National Grid Transco stock opened at $82.34 on Friday. The company has a fifty day simple moving average of $82.66 and a 200-day simple moving average of $85.28. National Grid Transco has a 12-month low of $67.51 and a 12-month high of $94.64. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fulton Bank N.A. increased its position in National Grid Transco by 10.2% during the second quarter. Fulton Bank N.A. now owns 31,544 shares of the utilities provider’s stock worth $2,614,000 after buying an additional 2,910 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of National Grid Transco in the second quarter valued at approximately $223,000. Legacy Wealth Asset Management LLC boosted its holdings in shares of National Grid Transco by 4.8% in the second quarter. Legacy Wealth Asset Management LLC now owns 9,772 shares of the utilities provider’s stock valued at $810,000 after acquiring an additional 451 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of National Grid Transco by 52.3% in the second quarter. Valeo Financial Advisors LLC now owns 5,274 shares of the utilities provider’s stock valued at $437,000 after acquiring an additional 1,811 shares during the period. Finally, Gradient Investments LLC grew its position in shares of National Grid Transco by 6.1% during the second quarter. Gradient Investments LLC now owns 65,039 shares of the utilities provider’s stock worth $5,390,000 after acquiring an additional 3,731 shares during 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.