National Grid Transco (NYSE:NGG) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of National Grid Transco (NYSE:NGG) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

NGG has been the subject of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research report on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Finally, Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $85.50.

National Grid Transco Stock Up 0.7%

Shares of NYSE:NGG opened at $80.44 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. National Grid Transco has a 1-year low of $67.51 and a 1-year high of $94.64. The company has a 50 day moving average price of $81.88 and a 200 day moving average price of $85.32.

National Grid Transco Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, July 23rd. Shareholders of record on Friday, May 29th were paid a dividend of $2.1738 per share. This represents a yield of 533.0%. The ex-dividend date of this dividend was Friday, May 29th.

Institutional Trading of National Grid Transco

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC acquired a new position in National Grid Transco during the first quarter valued at $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in National Grid Transco by 79.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after acquiring an additional 15,873 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of National Grid Transco by 12.5% in the 1st quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after purchasing an additional 971 shares during the period. Focus Partners Wealth increased its holdings in shares of National Grid Transco by 11.1% in the 1st quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after purchasing an additional 1,036 shares during the period. Finally, Sivia Capital Partners LLC acquired a new position in shares of National Grid Transco in the 2nd quarter valued at about $221,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Company Profile

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.