National Grid Transco (NYSE:NGG) Upgraded to Strong-Buy at Sanford C. Bernstein

National Grid Transco (NYSE:NGG) was upgraded by Sanford C. Bernstein to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of 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 report on Monday, June 8th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Wall Street Zen lowered National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, National Grid Transco has an average rating of “Hold” and an average price target of $85.50.

National Grid Transco Price Performance

NYSE:NGG opened at $76.02 on Tuesday. National Grid Transco has a 1 year low of $69.99 and a 1 year high of $94.64. The firm’s fifty day simple moving average is $80.21 and its 200 day simple moving average is $83.61. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09.

Institutional Trading of National Grid Transco

Institutional investors have recently modified their holdings of the company. Root Financial Partners LLC increased its position in shares of National Grid Transco by 88.2% during the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares during the period. Cullen Frost Bankers Inc. lifted its position in National Grid Transco by 88.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Hilton Head Capital Partners LLC bought a new position in National Grid Transco in the fourth quarter worth $34,000. First Horizon Corp boosted its stake in National Grid Transco by 235.0% during the first quarter. First Horizon Corp now owns 459 shares of the utilities provider’s stock worth $39,000 after buying an additional 322 shares in the last quarter. Finally, SHP Wealth Management acquired a new stake in National Grid Transco during the fourth quarter worth $40,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

About National Grid Transco

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.

In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.