National Grid Transco, PLC (NGG) Rating Lowered to Hold at Zacks Investment Research

National Grid Transco, PLC (NYSE:NGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

NGG has been the topic of a number of other reports. Societe Generale upgraded shares of National Grid Transco, PLC from a “sell” rating to a “hold” rating in a research report on Friday, March 17th. Deutsche Bank AG downgraded shares of National Grid Transco, PLC from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. BNP Paribas upgraded shares of National Grid Transco, PLC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, March 21st. Royal Bank Of Canada downgraded shares of National Grid Transco, PLC from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 4th. Finally, Barclays PLC restated an “equal weight” rating and set a $69.00 price target on shares of National Grid Transco, PLC in a research report on Friday, May 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. National Grid Transco, PLC presently has an average rating of “Hold” and an average target price of $71.00.

Analyst Recommendations for National Grid Transco, PLC (NYSE:NGG)

National Grid Transco, PLC (NYSE NGG) opened at 65.69 on Friday. National Grid Transco, PLC has a one year low of $61.64 and a one year high of $81.79. The firm has a 50-day moving average of $69.85 and a 200-day moving average of $66.89. The stock has a market capitalization of $45.21 billion, a PE ratio of 4.56 and a beta of 0.46.

The firm also recently announced a special dividend, which will be paid on Wednesday, August 16th. Investors of record on Friday, June 2nd will be issued a $1.872 dividend. This is an increase from National Grid Transco, PLC’s previous special dividend of $0.93. The ex-dividend date of this dividend is Wednesday, May 31st.

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Hedge funds have recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC acquired a new stake in National Grid Transco, PLC during the fourth quarter worth approximately $2,249,000. Energy Income Partners LLC acquired a new stake in National Grid Transco, PLC during the fourth quarter worth approximately $66,472,000. Two Sigma Investments LP increased its stake in National Grid Transco, PLC by 908.4% in the fourth quarter. Two Sigma Investments LP now owns 533,546 shares of the utilities provider’s stock worth $31,122,000 after buying an additional 480,634 shares during the last quarter. Tyers Asset Management LLC acquired a new stake in National Grid Transco, PLC during the fourth quarter worth approximately $859,000. Finally, Flinton Capital Management LLC acquired a new stake in National Grid Transco, PLC during the fourth quarter worth approximately $1,043,000. Institutional investors and hedge funds own 5.71% of the company’s stock.

National Grid Transco, PLC Company Profile

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

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