National Grid Transco (NYSE:NGG) Sets New 52-Week High – Here’s What Happened

Shares of National Grid Transco, PLC (NYSE:NGG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $93.16 and last traded at $92.8530, with a volume of 148278 shares changing hands. The stock had previously closed at $92.40.

Analyst Upgrades and Downgrades

Several analysts have 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. Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of National Grid Transco in a research report on Monday, January 26th. Finally, National Bank Financial set a $85.50 price target on National Grid Transco in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.80.

National Grid Transco Price Performance

The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. The business has a 50-day simple moving average of $81.71 and a 200 day simple moving average of $76.38.

Institutional Trading of National Grid Transco

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in shares of National Grid Transco during the 2nd quarter valued at $487,000. Creative Planning grew 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 worth $6,640,000 after acquiring an additional 16,857 shares during the period. Summit Global Investments increased its position in National Grid Transco by 19.1% during the second quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock valued at $3,985,000 after acquiring an additional 8,603 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in National Grid Transco by 189.2% in the second 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 period. Finally, BKM Wealth Management LLC bought a new position in National Grid Transco in the third quarter valued at about $586,000. Hedge funds and other 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.