National Grid Transco (NYSE:NGG) Hits New 12-Month High – Still a Buy?

National Grid Transco, PLC (NYSE:NGG)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $85.73 and last traded at $84.57, with a volume of 1076616 shares changing hands. The stock had previously closed at $85.27.

Analysts Set New Price Targets

Several research firms have recently commented on NGG. Morgan Stanley started coverage on National Grid Transco in a research report on Friday, December 12th. They issued an “overweight” rating and a $85.50 target price on the stock. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of National Grid Transco in a report on Thursday, January 22nd. BNP Paribas Exane downgraded shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research note on Monday, November 24th. Finally, National Bankshares set a $85.50 price objective on shares of National Grid Transco in a research note on Friday, December 12th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $83.80.

National Grid Transco Stock Down 0.8%

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 business has a 50-day moving average price of $78.29 and a two-hundred day moving average price of $74.90.

National Grid Transco Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, January 13th. Shareholders of record on Friday, November 21st were paid a dividend of $1.0657 per share. This represents a yield of 284.0%. The ex-dividend date was Friday, November 21st.

Hedge Funds Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently made changes to their positions in the company. Natural Investments LLC boosted its position in shares of National Grid Transco by 1.2% during the 4th quarter. Natural Investments LLC now owns 11,617 shares of the utilities provider’s stock worth $898,000 after acquiring an additional 133 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in National Grid Transco by 1.9% during the third quarter. HBK Sorce Advisory LLC now owns 7,535 shares of the utilities provider’s stock worth $555,000 after purchasing an additional 137 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of National Grid Transco by 14.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,109 shares of the utilities provider’s stock valued at $81,000 after purchasing an additional 137 shares in the last quarter. Cozad Asset Management Inc. increased its stake in shares of National Grid Transco by 4.4% in the 3rd quarter. Cozad Asset Management Inc. now owns 3,320 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 140 shares during the last quarter. Finally, Carr Financial Group Corp increased its stake in shares of National Grid Transco by 2.6% in the 3rd quarter. Carr Financial Group Corp now owns 5,634 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 141 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

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.