National Grid Transco (NYSE:NGG) Sets New 1-Year High – Still a Buy?

National Grid Transco, PLC (NYSE:NGG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $84.50 and last traded at $84.2360, with a volume of 752364 shares trading hands. The stock had previously closed at $82.58.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research note on Monday. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. National Bankshares set a $85.50 price target on National Grid Transco in a report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. Finally, Morgan Stanley assumed coverage on National Grid Transco in a research report on Friday, December 12th. They set an “overweight” rating and a $85.50 target price on the stock. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.80.

National Grid Transco Price Performance

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 company’s 50 day moving average price is $77.51 and its 200-day moving average price is $74.51.

National Grid Transco Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, November 21st were issued a $1.0657 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a dividend yield of 284.0%.

Institutional Trading of National Grid Transco

A number of large investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. purchased a new stake in shares of National Grid Transco during the 3rd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in National Grid Transco in the 3rd quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of National Grid Transco in the second quarter valued at $31,000. V Square Quantitative Management LLC bought a new stake in shares of National Grid Transco during the second quarter valued at about $35,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of National Grid Transco by 4,218.2% in the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 464 shares during the period. 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.