National Grid Transco’s (NGG) “Sell” Rating Reiterated at UBS Group

UBS Group reissued their sell rating on shares of National Grid Transco (NYSE:NGG) in a research report report published on Monday, Marketbeat Ratings reports.

Several other equities research analysts also recently issued reports on the company. National Bank Financial set a $85.50 price target on National Grid Transco in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Stock Performance

National Grid Transco stock opened at $87.37 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 52 week low of $62.13 and a 52 week high of $94.64. The stock has a 50-day simple moving average of $87.25 and a 200 day simple moving average of $79.13.

Hedge Funds Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in shares of National Grid Transco during the 1st quarter worth $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in National Grid Transco by 79.0% in 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 purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC raised its stake in National Grid Transco by 12.5% in the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 971 shares in the last quarter. Focus Partners Wealth lifted its position in National Grid Transco by 11.1% during the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in National Grid Transco during the second quarter worth about $221,000. 4.68% of the stock is owned by institutional investors and hedge funds.

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.