National Grid Transco (NYSE:NGG) Hits New 52-Week High - Here's What Happened

Key Points

• National Grid Transco shares reached a new 52-week high of $77.12 during trading, closing at $76.97 with a trading volume of 19,530 shares.
• Analysts have a consensus rating of "Moderate Buy" for National Grid Transco, with an average target price of $80.40.
• Several institutional investors have significantly increased their stakes in the company, with Salomon & Ludwin LLC growing its position by 4,218.2% in Q3.

Shares of National Grid Transco, PLC (NYSE:NGG - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $77.12 and last traded at $76.97, with a volume of 19530 shares trading hands. The stock had previously closed at $76.61.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NGG shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a research note on Wednesday, October 8th. Zacks Research downgraded shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, National Grid Transco currently has a consensus rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Trading Up 0.4%

The business's 50 day moving average price is $71.79 and its two-hundred day moving average price is $71.45. The company has a market capitalization of $76.34 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.74 and a beta of 0.70. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC grew its position in National Grid Transco by 4,218.2% during 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 in the last quarter. Mather Group LLC. acquired a new position in shares of National Grid Transco in the 3rd quarter valued at $39,000. Merit Financial Group LLC acquired a new position in shares of National Grid Transco in the 3rd quarter valued at $296,000. Ethic Inc. increased its position in shares of National Grid Transco by 22.0% during the 3rd quarter. Ethic Inc. now owns 35,995 shares of the utilities provider's stock worth $2,616,000 after purchasing an additional 6,496 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of National Grid Transco by 4.1% during the 3rd quarter. 180 Wealth Advisors LLC now owns 4,041 shares of the utilities provider's stock worth $294,000 after purchasing an additional 159 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 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.

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