National Grid Transco (NYSE:NGG) Sets New 12-Month High – Time to Buy?

National Grid Transco, PLC (NYSE:NGG) shares hit a new 52-week high on Tuesday . The stock traded as high as $93.16 and last traded at $92.8530, with a volume of 148278 shares trading hands. The stock had previously closed at $92.40.

Analysts Set New Price Targets

Several brokerages have issued reports on NGG. Zacks Research raised shares of National Grid Transco from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Citigroup reiterated a “neutral” rating on shares of National Grid Transco in a research note on Monday, January 26th. BNP Paribas Exane cut shares of National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. National Bank Financial set a $85.50 price objective on National Grid Transco in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.80.

National Grid Transco Trading Up 0.8%

The business’s fifty day moving average price is $81.03 and its two-hundred day moving average price is $76.13. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.90.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Milford Funds Ltd. acquired a new position in shares of National Grid Transco during the fourth quarter valued at about $183,208,000. SG Americas Securities LLC lifted its stake in shares of National Grid Transco by 47,478.9% during the fourth quarter. SG Americas Securities LLC now owns 892,580 shares of the utilities provider’s stock worth $69,041,000 after buying an additional 890,704 shares during the period. Bank of America Corp DE grew its holdings in shares of National Grid Transco by 21.5% during the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after buying an additional 814,248 shares during the last quarter. Brandes Investment Partners LP acquired a new position in shares of National Grid Transco in the 4th quarter valued at $60,372,000. Finally, Cullen Capital Management LLC purchased a new position in National Grid Transco in the 2nd quarter worth $56,462,000. 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.