National Grid Transco (NYSE:NGG) Upgraded to Buy 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 report published on Saturday morning.

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

National Grid Transco Stock Down 0.0%

Shares of NYSE:NGG opened at $82.34 on Friday. The company’s 50-day moving average is $82.66 and its 200 day moving average is $85.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.76 and a quick ratio of 0.71. National Grid Transco has a fifty-two week low of $67.51 and a fifty-two week high of $94.64.

National Grid Transco Dividend Announcement

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

Institutional Trading of National Grid Transco

Institutional investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC boosted its stake in National Grid Transco by 88.2% in the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 149 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of National Grid Transco in the third quarter worth about $25,000. Cullen Frost Bankers Inc. lifted its holdings in shares of 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 buying an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of National Grid Transco in the third quarter worth about $28,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

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.