National Grid Transco (NYSE:NGG) Hits New 1-Year High – Should You Buy?

National Grid Transco, PLC (NYSE:NGG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $84.50 and last traded at $84.2360, with a volume of 752364 shares trading hands. The stock had previously closed at $82.58.

Analysts Set New Price Targets

Several analysts have weighed in on NGG shares. BNP Paribas Exane cut shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. National Bankshares set a $85.50 target price 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 research note on Thursday, January 22nd. Citigroup reissued a “neutral” rating on shares of National Grid Transco in a research report on Monday. Finally, Morgan Stanley initiated coverage on National Grid Transco in a research note on Friday, December 12th. They set an “overweight” rating and a $85.50 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Price Performance

The firm’s 50-day simple moving average is $77.87 and its 200 day simple moving average is $74.65. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97.

National Grid Transco Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, January 13th. Investors of record on Friday, November 21st were given a dividend of $1.0657 per share. This represents a dividend yield of 284.0%. The ex-dividend date was Friday, November 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in National Grid Transco during the first quarter worth about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $2,360,000 after purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC lifted its stake in 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 last quarter. Focus Partners Wealth boosted its position in National Grid Transco by 11.1% in the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after buying an additional 1,036 shares in the last quarter. Finally, Sivia Capital Partners LLC bought a new stake in shares of National Grid Transco during the second quarter worth $221,000. Institutional investors own 4.68% of the company’s stock.

About National Grid Transco

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.