National Grid Transco (NYSE:NGG) Sets New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

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

National Grid Transco Stock Performance

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 stock has a 50-day moving average price of $81.03 and a 200 day moving average price of $76.13.

Hedge Funds Weigh In On National Grid Transco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGG. Bank of America Corp DE increased its stake in shares of National Grid Transco by 3.4% during the third quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock worth $345,292,000 after purchasing an additional 155,118 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of National Grid Transco by 2.1% in the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after acquiring an additional 66,456 shares in the last quarter. Milford Funds Ltd. purchased a new position in shares of National Grid Transco in the fourth quarter valued at approximately $183,208,000. Royal Bank of Canada boosted its stake in shares of National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock worth $178,945,000 after acquiring an additional 176,840 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of National Grid Transco by 1.4% during the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock worth $170,133,000 after purchasing an additional 29,832 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Transco Company Profile

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.