National Grid Transco (NYSE:NGG) Hits New 12-Month High – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research cut National Grid Transco from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.40.

National Grid Transco Stock Up 2.0%

The business’s 50 day moving average price is $73.22 and its two-hundred day moving average price is $72.23. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

Hedge Funds Weigh In On National Grid Transco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new position in National Grid Transco during the first quarter worth about $240,000. Bank of New York Mellon Corp boosted its position in shares of National Grid Transco by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 69,635 shares of the utilities provider’s stock valued at $4,569,000 after purchasing an additional 2,403 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of National Grid Transco in the 1st quarter worth approximately $252,000. Greenleaf Trust grew its stake in shares of National Grid Transco by 10.5% in the 1st quarter. Greenleaf Trust now owns 4,028 shares of the utilities provider’s stock worth $264,000 after purchasing an additional 382 shares during the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of National Grid Transco by 48.7% in the 1st quarter. Cerity Partners LLC now owns 48,188 shares of the utilities provider’s stock worth $3,162,000 after purchasing an additional 15,778 shares in the last quarter. 4.68% of the stock is owned by institutional investors.

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.