National Grid Transco, PLC (NYSE:NGG – Get Free Report) has been given an average recommendation of “Reduce” by the ten analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $85.50.
A number of analysts recently issued reports on the company. Wall Street Zen lowered National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Friday, July 17th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st.
Check Out Our Latest Stock Report on NGG
National Grid Transco Price Performance
Institutional Investors Weigh In On National Grid Transco
Large investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in National Grid Transco by 3.4% during the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after buying an additional 155,118 shares during the period. Federated Hermes Inc. lifted its holdings in National Grid Transco by 0.3% during the fourth quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock worth $245,154,000 after buying an additional 9,928 shares during the period. Milford Funds Ltd. bought a new stake in National Grid Transco during the 4th quarter valued at $183,208,000. Royal Bank of Canada boosted its position in National Grid Transco by 8.3% during the 4th quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after acquiring an additional 176,840 shares in the last quarter. Finally, Morgan Stanley boosted its position in National Grid Transco by 1.4% during the 4th quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock valued at $170,133,000 after acquiring an additional 29,832 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.
About National Grid Transco
National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that owns and operates electricity and gas networks in the United Kingdom and the northeastern United States. Its activities focus on transporting and distributing energy rather than primarily generating it, making the company a key link between energy producers and residential, commercial and industrial customers.
In the United Kingdom, National Grid operates the high-voltage electricity transmission network in England and Wales and owns electricity distribution networks in several regions.
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