National Grid Transco (NYSE:NGG) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of National Grid Transco (NYSE:NGG) from a buy rating to a hold rating in a report released on Sunday morning.

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

National Grid Transco Stock Up 0.0%

Shares of National Grid Transco stock opened at $79.99 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The stock’s 50-day simple moving average is $82.16 and its 200-day simple moving average is $85.30. National Grid Transco has a 52 week low of $67.51 and a 52 week high of $94.64.

National Grid Transco Announces Dividend

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

Hedge Funds Weigh In On National Grid Transco

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in National Grid Transco in the first quarter worth $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in National Grid Transco by 79.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after acquiring an additional 15,873 shares during the last quarter. NewEdge Advisors LLC increased its position in National Grid Transco by 12.5% during the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after acquiring an additional 971 shares during the last quarter. Focus Partners Wealth raised its stake in shares of National Grid Transco by 11.1% in the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after acquiring an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in shares of National Grid Transco in the second quarter valued at $221,000. Institutional investors 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.