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

Shares of National Grid Transco, PLC (NYSE:NGG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $93.22 and last traded at $92.8240, with a volume of 332375 shares. The stock had previously closed at $91.44.

Analyst Upgrades and Downgrades

NGG has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. BNP Paribas Exane lowered shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Zacks Research upgraded shares of National Grid Transco from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.80.

National Grid Transco Trading Up 1.4%

The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90. The firm’s 50-day moving average price is $82.64 and its 200 day moving average price is $76.80.

Institutional Trading of National Grid Transco

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