National Grid Transco, PLC (NYSE:NGG) Given Consensus Rating of “Hold” by Brokerages

National Grid Transco, PLC (NYSE:NGG) has received an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $83.80.

A number of brokerages have recently commented on NGG. Morgan Stanley started coverage on shares of National Grid Transco in a research report on Friday, December 12th. They issued an “overweight” rating and a $85.50 target price for the company. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research note on Monday. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, National Bankshares set a $85.50 price objective on National Grid Transco in a research note on Friday, December 12th.

Hedge Funds Weigh In On National Grid Transco

Several institutional investors and hedge funds have recently bought and sold shares of NGG. Bank of America Corp DE raised its position in shares of 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 buying an additional 155,118 shares during the period. Federated Hermes Inc. raised its position in National Grid Transco by 2.1% in the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after purchasing an additional 66,456 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of National Grid Transco by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock valued at $151,855,000 after purchasing an additional 48,048 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of National Grid Transco by 1.9% during the 3rd quarter. Natixis Advisors LLC now owns 2,011,143 shares of the utilities provider’s stock worth $146,150,000 after purchasing an additional 36,984 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of National Grid Transco by 3.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,835,914 shares of the utilities provider’s stock worth $133,416,000 after purchasing an additional 61,168 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Up 0.3%

NYSE NGG opened at $85.30 on Friday. The business has a fifty day moving average price of $78.07 and a 200 day moving average price of $74.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. National Grid Transco has a one year low of $59.35 and a one year high of $85.65.

National Grid Transco Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, January 13th. Investors of record on Friday, November 21st were issued a $1.0657 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a dividend yield of 284.0%.

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.