National Grid Transco, PLC (NYSE:NGG) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of National Grid Transco, PLC (NYSE:NGG) from a sell rating to a hold rating in a research report released on Monday, July 24th.

NGG has been the topic of a number of other research reports. HSBC Holdings plc raised shares of National Grid Transco, PLC from a hold rating to a buy rating in a report on Thursday, July 13th. Bank of America Corporation raised shares of National Grid Transco, PLC from a neutral rating to a buy rating in a report on Monday, May 15th. Zacks Investment Research upgraded shares of National Grid Transco, PLC from a hold rating to a buy rating and set a $72.00 price objective on the stock in a research note on Tuesday, June 27th. Barclays PLC reiterated an equal weight rating and issued a $69.00 price objective on shares of National Grid Transco, PLC in a research note on Friday, May 12th. Finally, Deutsche Bank AG cut shares of National Grid Transco, PLC from a hold rating to a sell rating in a research note on Thursday, June 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $70.50.

National Grid Transco, PLC (NYSE:NGG) opened at 62.78 on Monday. National Grid Transco, PLC has a 1-year low of $60.08 and a 1-year high of $79.56. The company has a market cap of $43.21 billion, a PE ratio of 4.29 and a beta of 0.45. The stock has a 50 day moving average of $62.43 and a 200-day moving average of $66.58.

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

A number of institutional investors have recently made changes to their positions in NGG. Wells Fargo & Company MN increased its position 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 worth $121,304,000 after buying an additional 296,460 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 worth $79,393,000 after buying an additional 799,514 shares in the last quarter. Miller Howard Investments Inc. NY raised 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 worth $79,279,000 after buying an additional 1,112,329 shares in the last quarter. Macquarie Group Ltd. raised 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 worth $71,906,000 after buying an additional 18,795 shares in the last quarter. Finally, Jane Street Group LLC raised 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 worth $64,906,000 after buying an additional 549,785 shares in the last quarter. Institutional investors and hedge funds 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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