National Grid Transco (NYSE:NGG) Upgraded at Wall Street Zen

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

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

National Grid Transco Trading Down 1.3%

NYSE:NGG opened at $81.20 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09. National Grid Transco has a 12 month low of $67.51 and a 12 month high of $94.64. The company has a 50 day simple moving average of $82.60 and a two-hundred day simple moving average of $85.29.

National Grid Transco Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NGG. Fulton Bank N.A. increased its holdings in National Grid Transco by 10.2% in the 2nd quarter. Fulton Bank N.A. now owns 31,544 shares of the utilities provider’s stock worth $2,614,000 after acquiring an additional 2,910 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of National Grid Transco in the second quarter worth approximately $223,000. Legacy Wealth Asset Management LLC increased its stake 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 worth $810,000 after purchasing an additional 451 shares in the last quarter. Valeo Financial Advisors LLC increased its stake 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 worth $437,000 after purchasing an additional 1,811 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of National Grid Transco by 6.1% in the second quarter. Gradient Investments LLC now owns 65,039 shares of the utilities provider’s stock worth $5,390,000 after purchasing an additional 3,731 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.

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.