National Grid Transco (NYSE:NGG) Sets New 1-Year High – Here’s What Happened

Shares of National Grid Transco, PLC (NYSE:NGG) hit a new 52-week high during trading on Friday . The company traded as high as $77.59 and last traded at $77.53, with a volume of 588793 shares traded. The stock had previously closed at $76.29.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Wednesday, October 8th. Zacks Research downgraded National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, National Grid Transco presently has a consensus rating of “Moderate Buy” and an average target price of $80.40.

National Grid Transco Stock Performance

The stock has a 50-day moving average price of $73.08 and a 200 day moving average price of $72.21. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Institutional Investors Weigh In On National Grid Transco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NGG. Syon Capital LLC grew its position in shares of National Grid Transco by 49.6% during the third quarter. Syon Capital LLC now owns 14,435 shares of the utilities provider’s stock worth $1,049,000 after acquiring an additional 4,785 shares during the last quarter. May Hill Capital LLC boosted its stake in National Grid Transco by 13.8% during the 3rd quarter. May Hill Capital LLC now owns 3,740 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 454 shares during the period. JPMorgan Chase & Co. grew its position in National Grid Transco by 2.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,089,650 shares of the utilities provider’s stock worth $151,855,000 after purchasing an additional 48,048 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in National Grid Transco by 2.2% in the third quarter. PNC Financial Services Group Inc. now owns 64,787 shares of the utilities provider’s stock valued at $4,708,000 after purchasing an additional 1,382 shares during the period. Finally, HighTower Advisors LLC raised its holdings in shares of National Grid Transco by 15.7% in the third quarter. HighTower Advisors LLC now owns 47,624 shares of the utilities provider’s stock valued at $3,461,000 after buying an additional 6,466 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Company Profile

National Grid plc transmits and distributes electricity and gas. It operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.