National Grid Transco (NYSE:NGG) Reaches New 12-Month High – Here’s What Happened

National Grid Transco, PLC (NYSE:NGG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $89.15 and last traded at $89.1450, with a volume of 517834 shares. The stock had previously closed at $88.39.

Analyst Ratings Changes

NGG has been the subject of several recent research reports. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. National Bankshares set a $85.50 price target on shares of National Grid Transco in a report on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. BNP Paribas Exane cut shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of National Grid Transco in a research report on Thursday. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, National Grid Transco currently has a consensus rating of “Hold” and an average target price of $83.80.

National Grid Transco Stock Up 0.4%

The company’s fifty day simple moving average is $79.50 and its two-hundred day simple moving average is $75.42. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

Institutional Trading of National Grid Transco

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of National Grid Transco in the 2nd quarter worth approximately $487,000. Creative Planning increased its holdings in shares of National Grid Transco by 23.3% in the second quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after buying an additional 16,857 shares in the last quarter. Summit Global Investments increased its holdings in shares of National Grid Transco by 19.1% in the second quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock valued at $3,985,000 after buying an additional 8,603 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of National Grid Transco by 189.2% during the 2nd quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock valued at $7,604,000 after acquiring an additional 72,673 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of National Grid Transco in the 3rd quarter worth $586,000. Institutional investors and hedge funds 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.