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

Shares of National Grid Transco, PLC (NYSE:NGG) reached a new 52-week high on Friday . The company traded as high as $80.37 and last traded at $80.12, with a volume of 132435 shares changing hands. The stock had previously closed at $79.36.

Analyst Ratings Changes

Several research firms have recently commented on NGG. Morgan Stanley assumed coverage on shares of National Grid Transco in a research report on Friday, December 12th. They set an “overweight” rating and a $85.50 price target for the company. BNP Paribas Exane lowered National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. BNP Paribas cut National Grid Transco from a “strong-buy” rating to a “strong sell” rating in a report on Monday, November 24th. National Bankshares set a $85.50 price target on National Grid Transco in a report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, National Grid Transco presently has an average rating of “Hold” and a consensus target price of $83.80.

National Grid Transco Price Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. The firm has a 50-day moving average of $76.92 and a 200-day moving average of $73.92.

National Grid Transco Dividend Announcement

The business 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. This represents a dividend yield of 284.0%. The ex-dividend date of this dividend was Friday, November 21st.

Hedge Funds Weigh In On National Grid Transco

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of National Grid Transco during the 1st quarter valued at about $490,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of National Grid Transco by 79.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,966 shares of the utilities provider’s stock worth $2,360,000 after buying an additional 15,873 shares in the last quarter. NewEdge Advisors LLC boosted its stake in National Grid Transco by 12.5% during the first quarter. NewEdge Advisors LLC now owns 8,767 shares of the utilities provider’s stock valued at $575,000 after buying an additional 971 shares during the last quarter. Focus Partners Wealth boosted its stake in National Grid Transco by 11.1% during the first quarter. Focus Partners Wealth now owns 10,375 shares of the utilities provider’s stock valued at $681,000 after buying an additional 1,036 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in National Grid Transco by 1.9% during the 1st quarter. Rhumbline Advisers now owns 17,184 shares of the utilities provider’s stock valued at $1,127,000 after buying an additional 328 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

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.