National Grid Transco (NGG) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of National Grid Transco (NYSE:NGG) from a hold rating to a sell rating in a report published on Wednesday, November 15th.

According to Zacks, “NATIONAL GRID -ADR is an international energy delivery business, whose principal activities are in the regulated electricity and gas industries. They own and operate the high-voltage electricity transmission network in England and Wales, and Britain’s natural gas transportation system. In the US they are one of the top ten electricity companies, with the largest electricity transmission and distribution network in the New England/New York region. “

Other equities analysts have also recently issued reports about the stock. Berenberg Bank raised shares of National Grid Transco from a hold rating to a buy rating in a research note on Tuesday, August 1st. BidaskClub raised shares of National Grid Transco from a sell rating to a hold rating in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $69.00.

National Grid Transco (NGG) opened at $60.04 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.32. National Grid Transco has a 12 month low of $58.42 and a 12 month high of $75.24.

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

A number of institutional investors and hedge funds have recently bought and sold shares of NGG. BlueCrest Capital Management Ltd acquired a new stake in National Grid Transco in the second quarter valued at approximately $448,000. Arrowstreet Capital Limited Partnership grew its position in shares of National Grid Transco by 172.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,263,824 shares of the utilities provider’s stock worth $79,393,000 after buying an additional 799,514 shares in the last quarter. Wellington Management Group LLP grew its position in shares of National Grid Transco by 2.2% during the first quarter. Wellington Management Group LLP now owns 4,708 shares of the utilities provider’s stock worth $299,000 after buying an additional 100 shares in the last quarter. Miller Howard Investments Inc. NY grew its position in shares of National Grid Transco by 0.3% during the third quarter. Miller Howard Investments Inc. NY now owns 1,029,056 shares of the utilities provider’s stock worth $64,532,000 after buying an additional 3,117 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of National Grid Transco by 30.3% during the second quarter. First Trust Advisors LP now owns 7,478 shares of the utilities provider’s stock worth $470,000 after buying an additional 1,738 shares in the last quarter. 5.60% of the stock is owned by hedge funds and other institutional investors.

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About National Grid Transco

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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