National Grid Transco’s (NGG) Hold Rating Reiterated at Jefferies Financial Group

National Grid Transco (NYSE:NGG)‘s stock had its “hold” rating restated by investment analysts at Jefferies Financial Group in a research note issued to investors on Wednesday, Marketbeat.com reports.

A number of other equities analysts also recently commented on the company. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Zacks Research downgraded shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. National Bank Financial set a $85.50 price target on shares of National Grid Transco in a report on Friday, December 12th. Finally, UBS Group reissued a “sell” rating on shares of National Grid Transco in a research report on Monday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.80.

National Grid Transco Trading Down 0.5%

Shares of NYSE NGG opened at $90.40 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The stock’s 50-day moving average is $87.10 and its two-hundred day moving average is $79.08. National Grid Transco has a 1-year low of $62.13 and a 1-year high of $94.64.

Institutional Investors Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC acquired a new stake in shares of National Grid Transco during the second quarter worth $487,000. Creative Planning grew its position in National Grid Transco by 23.3% in the 2nd quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after buying an additional 16,857 shares during the last quarter. Summit Global Investments increased its stake in National Grid Transco by 19.1% in the 2nd quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock valued at $3,985,000 after buying an additional 8,603 shares during the period. JPMorgan Chase & Co. increased its stake in National Grid Transco by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock valued at $151,855,000 after buying an additional 48,048 shares during the period. Finally, Osaic Holdings Inc. raised its position in National Grid Transco by 189.2% during the 2nd quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock worth $7,604,000 after buying an additional 72,673 shares during the last quarter. Institutional investors and hedge funds 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.