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

National Grid Transco, PLC (NYSE:NGG) reached a new 52-week high on Friday . The company traded as high as $78.54 and last traded at $78.5240, with a volume of 211791 shares changing hands. The stock had previously closed at $77.35.

Analysts Set New Price Targets

Several research firms recently issued reports on NGG. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. Morgan Stanley started coverage on shares of National Grid Transco in a report on Friday, December 12th. They issued an “overweight” rating and a $85.50 target price on the stock. BNP Paribas downgraded shares of National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, November 24th. National Bankshares set a $85.50 price target on shares of National Grid Transco in a report on Friday, December 12th. Finally, BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a report on Monday, November 24th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Trading Up 1.7%

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 firm’s fifty day moving average is $76.27 and its two-hundred day moving average is $73.45.

National Grid Transco Dividend Announcement

The business also recently declared a dividend, which will be paid on Tuesday, January 13th. Investors of record on Friday, November 21st will be given a dividend of $1.0657 per share. The ex-dividend date is Friday, November 21st. This represents a dividend yield of 284.0%.

Institutional Trading of National Grid Transco

Several institutional investors and hedge funds have recently bought and sold shares of NGG. Johnson Financial Group Inc. bought a new position in shares of National Grid Transco in the 3rd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in National Grid Transco in the third quarter worth $28,000. Trust Co. of Toledo NA OH bought a new position in National Grid Transco in the second quarter worth $31,000. V Square Quantitative Management LLC purchased a new position in National Grid Transco during the second quarter valued at $35,000. Finally, Salomon & Ludwin LLC lifted its position in National Grid Transco by 4,218.2% during the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock valued at $35,000 after buying an additional 464 shares during the period. 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.