National Grid Transco (NYSE:NGG) Stock Breaks Below 200-Day Moving Average – Time to Sell?

National Grid Transco, PLC (NYSE:NGG) shares crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $83.35 and traded as low as $82.58. National Grid Transco shares last traded at $83.0390, with a volume of 1,411,025 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NGG. Jefferies Financial Group reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, October 5th. Wall Street Zen downgraded shares of National Grid Transco from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. UBS Group restated a “sell” rating on shares of National Grid Transco in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research report on Thursday, October 15th. Finally, Sanford C. Bernstein reiterated a “buy” rating on shares of National Grid Transco in a report on Friday, September 25th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $80.33.

National Grid Transco Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $78.70 and its 200-day simple moving average is $83.35.

Institutional Investors Weigh In On National Grid Transco

Hedge funds have recently bought and sold shares of the company. Hager Investment Management Services LLC acquired a new position in National Grid Transco during the third quarter worth approximately $32,000. James T. Borello RIA raised its stake in National Grid Transco by 50.3% in the third quarter. James T. Borello RIA now owns 433 shares of the utilities provider’s stock valued at $33,000 after buying an additional 145 shares during the period. Pathway Financial Advisers LLC bought a new stake in National Grid Transco in the third quarter valued at approximately $34,000. First Horizon Corp lifted its position in shares of National Grid Transco by 235.0% in the first quarter. First Horizon Corp now owns 459 shares of the utilities provider’s stock valued at $39,000 after buying an additional 322 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in shares of National Grid Transco in the third quarter valued at approximately $40,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

About National Grid Transco

National Grid plc, formerly known as National Grid Transco, is an energy infrastructure company that operates regulated electricity and gas networks. Its activities include transmitting electricity, distributing energy to homes and businesses, and transporting gas through pipeline systems.

The company serves customers in the United Kingdom and the northeastern United States. Its infrastructure connects energy producers with local distribution networks and end users, supporting the delivery of electricity and gas across these regions.

National Grid Transco was formed in 2002 through the merger of National Grid Group and Lattice Group, then changed its name to National Grid plc in 2005.