National Grid Transco (NYSE:NGG) Reaches New 1-Year High – Time to Buy?

National Grid Transco, PLC (NYSE:NGG) reached a new 52-week high on Tuesday . The company traded as high as $93.22 and last traded at $92.8240, with a volume of 332375 shares trading hands. The stock had previously closed at $91.44.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NGG. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a report on Thursday, February 5th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Zacks Research upgraded National Grid Transco from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. National Bank Financial set a $85.50 price objective on National Grid Transco in a research report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.80.

National Grid Transco Trading Down 0.2%

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The business has a 50 day moving average price of $83.30 and a 200-day moving average price of $77.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NGG. Global Retirement Partners LLC bought a new stake in shares of National Grid Transco in the second quarter worth $487,000. Creative Planning lifted its stake 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 boosted its holdings in 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 acquiring an additional 8,603 shares during the last quarter. Osaic Holdings Inc. increased its position in 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 purchasing an additional 72,673 shares during the period. Finally, BKM Wealth Management LLC bought a new position in National Grid Transco during the 3rd quarter worth approximately $586,000. 4.68% of the stock is owned by 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.