National Grid Transco (NYSE:NGG) Reaches New 12-Month High - What's Next?

National Grid Transco, PLC (NYSE:NGG - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $74.44 and last traded at $74.41, with a volume of 1259709 shares traded. The stock had previously closed at $73.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NGG shares. Barclays restated an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. BNP Paribas Exane began coverage on National Grid Transco in a report on Thursday, May 29th. They issued an "outperform" rating and a $80.40 price objective on the stock. Wall Street Zen lowered National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Royal Bank Of Canada lowered National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Finally, Sanford C. Bernstein upgraded National Grid Transco from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Trading Down 0.1%

The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The firm has a market cap of $72.74 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.74 and a beta of 0.63. The business has a 50 day moving average price of $72.02 and a 200-day moving average price of $65.56.

National Grid Transco Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, May 30th will be issued a dividend of $2.0345 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid Transco's dividend payout ratio is presently 78.27%.

Institutional Investors Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its position in shares of National Grid Transco by 20.0% in the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock worth $62,000 after acquiring an additional 174 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in National Grid Transco by 24.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider's stock valued at $265,000 after purchasing an additional 868 shares during the period. Fisher Asset Management LLC boosted its position in National Grid Transco by 21.0% during the 4th quarter. Fisher Asset Management LLC now owns 13,147 shares of the utilities provider's stock valued at $781,000 after purchasing an additional 2,279 shares during the period. US Bancorp DE boosted its position in National Grid Transco by 27.2% during the 4th quarter. US Bancorp DE now owns 43,410 shares of the utilities provider's stock valued at $2,579,000 after purchasing an additional 9,292 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in National Grid Transco by 278.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,689 shares of the utilities provider's stock worth $159,000 after acquiring an additional 1,978 shares during the period. 4.68% of the stock is currently owned by hedge funds and other 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.