National Grid Transco, PLC (NYSE:NGG) Receives Consensus Recommendation of “Reduce” from Brokerages

National Grid Transco, PLC (NYSE:NGG) has received an average recommendation of “Reduce” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $85.50.

Several brokerages have issued reports on NGG. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Jefferies Financial Group reissued a “hold” rating on shares of National Grid Transco in a report on Wednesday, March 18th. The Goldman Sachs Group reissued a “neutral” rating on shares of National Grid Transco in a report on Monday, March 23rd. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th.

National Grid Transco Trading Up 0.9%

NGG opened at $83.76 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco has a 1 year low of $67.51 and a 1 year high of $94.64. The firm has a 50 day moving average price of $84.12 and a 200 day moving average price of $84.48.

National Grid Transco Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th will be issued a dividend of $2.1738 per share. This represents a yield of 533.0%. The ex-dividend date of this dividend is Friday, May 29th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings 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 worth $345,292,000 after buying an additional 155,118 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of National Grid Transco by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock worth $245,154,000 after purchasing an additional 9,928 shares during the last quarter. Milford Funds Ltd. bought a new stake in shares of National Grid Transco in the 4th quarter worth approximately $183,208,000. Royal Bank of Canada lifted its holdings in shares of National Grid Transco by 8.3% in the 4th quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock worth $178,945,000 after purchasing an additional 176,840 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of National Grid Transco by 1.4% in the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock worth $170,133,000 after purchasing an additional 29,832 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

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.