National Grid Transco (NYSE:NGG) Reaches New 1-Year High - Should You Buy?

Key Points

• National Grid Transco's stock has reached a new 52-week high at $74.87, closing at $74.83 with a trading volume of 381,890 shares.
• Analysts have given the stock an average rating of Moderate Buy with a target price of $80.40, following a mix of ratings from "Buy" to "Hold".
• Institutional investors have increased their stakes significantly, with Federated Hermes Inc. boosting its position by 49.8% during the first quarter.

National Grid Transco, PLC (NYSE:NGG - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $74.87 and last traded at $74.83, with a volume of 381890 shares. The stock had previously closed at $74.25.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of National Grid Transco in a report on Wednesday, October 8th. Zacks Research cut National Grid Transco from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.40.

National Grid Transco Trading Up 1.1%

The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average of $71.43 and a two-hundred day moving average of $71.15. The company has a market capitalization of $74.50 billion, a PE ratio of 14.43, a PEG ratio of 1.66 and a beta of 0.70.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased its position in National Grid Transco by 49.8% in the first quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock worth $205,592,000 after buying an additional 1,041,918 shares in the last quarter. Bank of America Corp DE boosted its position in National Grid Transco by 21.5% during the 2nd quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider's stock valued at $342,017,000 after acquiring an additional 814,248 shares in the last quarter. Cullen Capital Management LLC purchased a new position in National Grid Transco during the 2nd quarter worth $56,462,000. Nuveen LLC acquired a new stake in National Grid Transco during the 1st quarter worth about $32,015,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of National Grid Transco by 29.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,774,746 shares of the utilities provider's stock valued at $132,059,000 after buying an additional 402,329 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

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.

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