Wall Street Zen Downgrades National Grid Transco (NYSE:NGG) to Hold

National Grid Transco (NYSE:NGG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

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

National Grid Transco Trading Down 0.2%

Shares of National Grid Transco stock opened at $79.81 on Friday. The firm’s 50-day moving average is $82.02 and its 200 day moving average is $85.31. National Grid Transco has a 1 year low of $67.51 and a 1 year high of $94.64. 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 Investors Weigh In On National Grid Transco

A number of large investors have recently made changes to their positions in NGG. Bank of America Corp DE raised its position in shares of National Grid Transco by 3.4% during the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after purchasing an additional 155,118 shares during the period. Federated Hermes Inc. raised its holdings in National Grid Transco by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock valued at $245,154,000 after acquiring an additional 9,928 shares during the period. Milford Funds Ltd. bought a new stake in National Grid Transco during the fourth quarter valued at about $183,208,000. Royal Bank of Canada lifted its position in shares of National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after acquiring an additional 176,840 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of National Grid Transco by 1.4% in the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after acquiring an additional 29,832 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.