National Grid Transco (NYSE:NGG) Reaches New 1-Year High – Here’s Why

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

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. BNP Paribas Exane downgraded 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 price objective on National Grid Transco in a research 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. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research note on Thursday. Finally, Citigroup restated a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $83.80.

National Grid Transco Trading Up 0.4%

The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average price of $79.50 and a 200 day moving average price of $75.42.

Institutional Investors Weigh In On National Grid Transco

Several institutional investors have recently bought and sold shares of NGG. AQR Capital Management LLC purchased a new position in shares of National Grid Transco in the 1st quarter valued at $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in National Grid Transco by 79.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock valued at $2,360,000 after purchasing an additional 15,873 shares in the last quarter. NewEdge Advisors LLC raised its position in National Grid Transco by 12.5% in the first 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 period. Focus Partners Wealth lifted its stake in shares of National Grid Transco by 11.1% during the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock worth $681,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new stake in shares of National Grid Transco in the second quarter worth about $221,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

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.