National Grid Transco, PLC (NGG) Given “Equal Weight” Rating at Barclays PLC

Barclays PLC reiterated their equal weight rating on shares of National Grid Transco, PLC (NYSE:NGG) in a research report released on Friday, May 12th, Marketbeat reports. They currently have a $69.00 target price on the utilities provider’s stock.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada raised National Grid Transco, PLC from a sector perform rating to an outperform rating in a report on Monday, January 30th. BNP Paribas raised National Grid Transco, PLC from an underperform rating to a neutral rating in a report on Tuesday, March 21st. Zacks Investment Research raised National Grid Transco, PLC from a hold rating to a buy rating and set a $66.00 price target for the company in a research note on Thursday, February 9th. Berenberg Bank lowered National Grid Transco, PLC from a buy rating to a hold rating in a research note on Thursday, May 11th. Finally, Investec upgraded National Grid Transco, PLC from a hold rating to a buy rating in a research report on Friday, January 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $71.00.

National Grid Transco, PLC (NYSE:NGG) traded up 0.92% during mid-day trading on Friday, hitting $65.97. The company had a trading volume of 540,286 shares. National Grid Transco, PLC has a 52-week low of $61.68 and a 52-week high of $81.85. The company has a 50-day moving average price of $69.99 and a 200 day moving average price of $66.81. The company has a market capitalization of $45.40 billion, a P/E ratio of 4.58 and a beta of 0.46.

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

A number of institutional investors have recently bought and sold shares of NGG. Aviance Capital Management LLC increased its position in National Grid Transco, PLC by 7.2% in the third quarter. Aviance Capital Management LLC now owns 597,918 shares of the utilities provider’s stock valued at $42,518,000 after buying an additional 40,029 shares during the last quarter. Rikoon Group LLC acquired a new position in National Grid Transco, PLC during the third quarter valued at approximately $323,000. Sigma Planning Corp increased its position in National Grid Transco, PLC by 1.2% in the third quarter. Sigma Planning Corp now owns 18,550 shares of the utilities provider’s stock valued at $1,319,000 after buying an additional 225 shares during the last quarter. Coconut Grove Bank increased its position in National Grid Transco, PLC by 4.1% in the third quarter. Coconut Grove Bank now owns 20,992 shares of the utilities provider’s stock valued at $1,493,000 after buying an additional 820 shares during the last quarter. Finally, Hudock Capital Group LLC increased its position in National Grid Transco, PLC by 2.5% in the third quarter. Hudock Capital Group LLC now owns 7,541 shares of the utilities provider’s stock valued at $536,000 after buying an additional 183 shares during the last quarter. 5.73% of the stock is currently owned by hedge funds and other institutional investors.

About National Grid Transco, PLC

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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