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

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

Wall Street Analyst Weigh In

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

National Grid Transco Stock Down 0.8%

The business’s 50 day simple moving average is $78.29 and its 200 day simple moving average is $74.90. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90.

National Grid Transco Announces Dividend

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

Institutional Trading of National Grid Transco

Hedge funds have recently made changes to their positions in the business. Johnson Financial Group Inc. acquired a new position in shares of National Grid Transco during the 3rd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in National Grid Transco during the third quarter worth $28,000. Trust Co. of Toledo NA OH acquired a new position in shares of National Grid Transco in the second quarter valued at $31,000. Salomon & Ludwin LLC raised its position in shares of National Grid Transco by 4,218.2% in the third quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 464 shares during the period. Finally, ESL Trust Services LLC lifted its stake in shares of National Grid Transco by 71.4% during the 3rd quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock worth $35,000 after buying an additional 200 shares during the last quarter. 4.68% of the stock is 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.