National Grid Transco (NYSE:NGG) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

National Grid Transco, PLC (NYSE:NGG)’s share price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $83.35 and traded as low as $82.58. National Grid Transco shares last traded at $83.0390, with a volume of 1,411,025 shares.

Analysts Set New Price Targets

NGG has been the subject of a number of recent research reports. JPMorgan Chase & Co. restated a “buy” rating on shares of National Grid Transco in a research note on Monday, October 5th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Monday, October 5th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, October 15th. Berenberg Bank restated a “neutral” rating on shares of National Grid Transco in a research note on Friday, July 10th. Finally, Wall Street Zen downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.33.

National Grid Transco Price Performance

The business has a 50 day moving average of $78.70 and a 200 day moving average of $83.35. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in National Grid Transco by 4.7% in the third quarter. Brighton Jones LLC now owns 2,800 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 126 shares during the period. Samalin Investment Counsel LLC boosted its holdings in shares of National Grid Transco by 2.2% in the 3rd quarter. Samalin Investment Counsel LLC now owns 5,815 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 127 shares in the last quarter. James T. Borello RIA raised its holdings in National Grid Transco by 50.3% in the third quarter. James T. Borello RIA now owns 433 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. Focused Alpha LLC increased its position in National Grid Transco by 4.2% during the third quarter. Focused Alpha LLC now owns 4,001 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 161 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in shares of National Grid Transco by 4.9% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,073 shares of the utilities provider’s stock valued at $309,000 after acquiring an additional 189 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Company Profile

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that operates regulated electricity and gas networks. Its activities include transmitting electricity, distributing energy to homes and businesses, and transporting gas through pipeline systems.

The company serves customers in the United Kingdom and the northeastern United States. Its infrastructure connects energy producers with local distribution networks and end users, supporting the delivery of electricity and gas across these regions.

National Grid Transco was formed in 2002 through the merger of National Grid Group and Lattice Group, then changed its name to National Grid plc in 2005.