Analysts Set National Grid Transco, PLC (NYSE:NGG) PT at $80.40

Shares of National Grid Transco, PLC (NYSE:NGG) have been given an average recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $80.40.

NGG has been the topic of several research reports. Barclays reaffirmed an “overweight” rating on shares of National Grid Transco in a report on Friday, May 16th. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Tuesday, May 6th. BNP Paribas Exane initiated coverage on National Grid Transco in a report on Thursday, May 29th. They issued an “outperform” rating and a $80.40 target price on the stock. Royal Bank Of Canada cut National Grid Transco from an “outperform” rating to a “sector perform” rating in a report on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of National Grid Transco in a report on Wednesday, May 21st.

Institutional Investors Weigh In On National Grid Transco

Several large investors have recently added to or reduced their stakes in NGG. FMR LLC increased its stake in National Grid Transco by 11.9% during the fourth quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock worth $265,185,000 after acquiring an additional 473,172 shares during the last quarter. Invesco Ltd. increased its stake in National Grid Transco by 3.2% during the fourth quarter. Invesco Ltd. now owns 537,269 shares of the utilities provider’s stock worth $31,925,000 after acquiring an additional 16,409 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in National Grid Transco during the fourth quarter worth approximately $651,000. Savvy Advisors Inc. bought a new stake in National Grid Transco during the fourth quarter worth approximately $245,000. Finally, Guggenheim Capital LLC increased its stake in National Grid Transco by 377.5% during the fourth quarter. Guggenheim Capital LLC now owns 16,641 shares of the utilities provider’s stock worth $989,000 after acquiring an additional 13,156 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Trading Up 0.3%

Shares of NGG stock opened at $71.22 on Thursday. National Grid Transco has a 12-month low of $55.82 and a 12-month high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The stock’s 50-day moving average price is $71.74 and its 200-day moving average price is $68.22. The stock has a market capitalization of $69.82 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63.

National Grid Transco Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, May 30th were paid a dividend of $2.0345 per share. This represents a yield of 470.0%. The ex-dividend date of this dividend was Friday, May 30th. National Grid Transco’s payout ratio is presently 78.27%.

About National Grid Transco

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.