National Grid Transco (NYSE:NGG) Reaches New 52-Week High – Here’s Why

National Grid Transco, PLC (NYSE:NGG) shares hit 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NGG. BNP Paribas Exane cut National Grid Transco from an “outperform” rating to an “underperform” rating in a report on Monday, November 24th. National Bank Financial set a $85.50 target price on shares of National Grid Transco in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. Finally, Zacks Research raised shares of National Grid Transco from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.80.

National Grid Transco Stock Up 1.4%

The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average is $82.64 and its two-hundred day moving average is $76.80.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of National Grid Transco in the 2nd quarter valued at approximately $487,000. Creative Planning increased its stake in National Grid Transco by 23.3% during the second quarter. Creative Planning now owns 89,239 shares of the utilities provider’s stock valued at $6,640,000 after purchasing an additional 16,857 shares during the last quarter. Summit Global Investments raised its holdings in shares of National Grid Transco by 19.1% during the second quarter. Summit Global Investments now owns 53,559 shares of the utilities provider’s stock worth $3,985,000 after purchasing an additional 8,603 shares during the period. Osaic Holdings Inc. lifted its position in shares of National Grid Transco by 189.2% in the 2nd quarter. Osaic Holdings Inc. now owns 111,083 shares of the utilities provider’s stock worth $7,604,000 after buying an additional 72,673 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of National Grid Transco in the 3rd quarter worth about $586,000. 4.68% of the stock is owned by institutional investors and hedge funds.

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.