National Grid Transco, PLC (NYSE:NGG) Lifted to “Buy” at Berenberg Bank

National Grid Transco, PLC (NYSE:NGG) was upgraded by equities researchers at Berenberg Bank from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, August 1st, Marketbeat reports.

Other analysts have also recently issued research reports about the company. BidaskClub cut National Grid Transco, PLC from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Citigroup Inc. upgraded National Grid Transco, PLC from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a research note on Saturday, June 17th. Bank of America Corporation upgraded National Grid Transco, PLC from a “neutral” rating to a “buy” rating in a research note on Monday, May 15th. Finally, HSBC Holdings plc upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $70.50.

National Grid Transco, PLC (NYSE NGG) opened at 62.78 on Tuesday. The company has a 50-day moving average price of $62.43 and a 200 day moving average price of $66.58. National Grid Transco, PLC has a 1-year low of $60.08 and a 1-year high of $79.56. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 4.29 and a beta of 0.45.

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Hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its stake in shares of National Grid Transco, PLC by 18.4% in the first quarter. Wells Fargo & Company MN now owns 1,910,886 shares of the utilities provider’s stock valued at $121,304,000 after buying an additional 296,460 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of National Grid Transco, PLC by 172.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,263,824 shares of the utilities provider’s stock valued at $79,393,000 after buying an additional 799,514 shares during the last quarter. Miller Howard Investments Inc. NY boosted its stake in shares of National Grid Transco, PLC by 814.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,248,874 shares of the utilities provider’s stock valued at $79,279,000 after buying an additional 1,112,329 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of National Grid Transco, PLC by 1.7% in the first quarter. Macquarie Group Ltd. now owns 1,132,742 shares of the utilities provider’s stock valued at $71,906,000 after buying an additional 18,795 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of National Grid Transco, PLC by 116.3% in the first quarter. Jane Street Group LLC now owns 1,022,460 shares of the utilities provider’s stock valued at $64,906,000 after buying an additional 549,785 shares during the last quarter. Institutional investors own 5.57% of the company’s stock.

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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