National Grid Transco (NGG) Upgraded to Hold at Deutsche Bank

Deutsche Bank upgraded shares of National Grid Transco (NYSE:NGG) from a sell rating to a hold rating in a research note released on Wednesday.

NGG has been the topic of several other research reports. Zacks Investment Research cut National Grid Transco from a hold rating to a sell rating in a report on Wednesday, November 15th. Credit Suisse Group upgraded National Grid Transco from an underperform rating to a neutral rating in a report on Monday, November 27th. ValuEngine upgraded National Grid Transco from a hold rating to a buy rating in a report on Friday, December 1st. Finally, J P Morgan Chase & Co reiterated a buy rating on shares of National Grid Transco in a report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $69.00.

National Grid Transco (NYSE:NGG) traded down $0.27 during trading on Wednesday, reaching $59.32. The company had a trading volume of 636,500 shares, compared to its average volume of 516,174. National Grid Transco has a fifty-two week low of $58.42 and a fifty-two week high of $75.24. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 1.32.

The business also recently announced a semiannual dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Friday, November 24th will be paid a $1.0169 dividend. This represents a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, November 22nd.

A number of large investors have recently added to or reduced their stakes in NGG. Capital International Investors lifted its stake in National Grid Transco by 302.5% in the third quarter. Capital International Investors now owns 2,693,566 shares of the utilities provider’s stock valued at $168,914,000 after buying an additional 2,024,400 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in National Grid Transco 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 period. Mondrian Investment Partners LTD acquired a new position in National Grid Transco in the third quarter valued at about $30,019,000. Reaves W H & Co. Inc. lifted its stake in National Grid Transco by 190.2% in the second quarter. Reaves W H & Co. Inc. now owns 468,260 shares of the utilities provider’s stock valued at $29,416,000 after buying an additional 306,919 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in National Grid Transco by 11.3% in the third quarter. Wells Fargo & Company MN now owns 1,871,386 shares of the utilities provider’s stock valued at $117,355,000 after buying an additional 189,757 shares during the period. 5.60% of the stock is currently owned by hedge funds and other institutional investors.

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National Grid Transco Company Profile

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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