National Grid Transco (NYSE:NGG) Downgraded to “Strong Sell” Rating by BNP Paribas

BNP Paribas cut shares of National Grid Transco (NYSE:NGG) from a strong-buy rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

A number of other analysts have also commented on the stock. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, National Grid Transco presently has a consensus rating of “Hold” and a consensus target price of $80.40.

National Grid Transco Price Performance

Shares of NYSE NGG opened at $74.09 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. National Grid Transco has a 12 month low of $55.82 and a 12 month high of $78.49. The business has a fifty day simple moving average of $74.73 and a 200-day simple moving average of $72.61.

National Grid Transco Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, January 13th. Stockholders of record on Friday, November 21st will be issued a dividend of $1.0657 per share. This represents a dividend yield of 284.0%. The ex-dividend date is Friday, November 21st.

Institutional Trading of National Grid Transco

A number of institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC increased its position in National Grid Transco by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 8,055 shares of the utilities provider’s stock worth $528,000 after purchasing an additional 331 shares during the last quarter. AE Wealth Management LLC grew its stake in shares of National Grid Transco by 11.3% in the 1st quarter. AE Wealth Management LLC now owns 9,180 shares of the utilities provider’s stock valued at $602,000 after buying an additional 934 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of National Grid Transco by 23.6% in the 1st quarter. Cetera Investment Advisers now owns 118,366 shares of the utilities provider’s stock valued at $7,766,000 after buying an additional 22,563 shares in the last quarter. Assetmark Inc. increased its holdings in National Grid Transco by 23.1% in the first quarter. Assetmark Inc. now owns 45,290 shares of the utilities provider’s stock worth $2,972,000 after buying an additional 8,506 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in National Grid Transco by 63.2% during the first quarter. HB Wealth Management LLC now owns 8,864 shares of the utilities provider’s stock valued at $582,000 after acquiring an additional 3,433 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Transco Company Profile

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.