National Grid Transco (NYSE:NGG) Stock Rating Upgraded by Zacks Research

National Grid Transco (NYSE:NGG) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. National Bankshares set a $85.50 target price on National Grid Transco in a report on Friday, December 12th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. BNP Paribas Exane cut National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Finally, Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, National Grid Transco has an average rating of “Moderate Buy” and an average price target of $83.80.

National Grid Transco Stock Up 2.2%

NGG traded up $1.91 during trading hours on Monday, hitting $90.67. 746,286 shares of the company’s stock were exchanged, compared to its average volume of 787,845. National Grid Transco has a 12-month low of $59.35 and a 12-month high of $90.89. The firm has a 50 day moving average of $79.77 and a 200 day moving average of $75.54. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90.

Hedge Funds Weigh In On National Grid Transco

A number of hedge funds and other institutional investors have recently bought and sold shares of NGG. AQR Capital Management LLC purchased a new position in National Grid Transco during the 1st quarter worth $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in National Grid Transco by 79.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after purchasing an additional 15,873 shares during the period. NewEdge Advisors LLC boosted its holdings in National Grid Transco by 12.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 971 shares in the last quarter. Focus Partners Wealth raised its stake in shares of National Grid Transco by 11.1% during the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock worth $681,000 after buying an additional 1,036 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in shares of National Grid Transco in the 2nd quarter valued at about $221,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

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.