National Grid Transco (NYSE:NGG) Reaches New 52-Week High – What’s Next?

National Grid Transco, PLC (NYSE:NGG) hit a new 52-week high during trading on Thursday . The company traded as high as $78.06 and last traded at $78.0250, with a volume of 828928 shares. The stock had previously closed at $77.31.

Analyst Upgrades and Downgrades

NGG has been the subject of a number of analyst reports. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, National Grid Transco presently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

National Grid Transco Price Performance

The company’s 50 day moving average price is $73.73 and its 200-day moving average price is $72.34. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

National Grid Transco Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, January 13th. Shareholders of record on Friday, November 21st will be given a dividend of $1.0657 per share. This represents a yield of 274.0%. The ex-dividend date of this dividend is Friday, November 21st.

Hedge Funds Weigh In On National Grid Transco

Large investors have recently modified their holdings of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of National Grid Transco during the 2nd quarter worth about $31,000. V Square Quantitative Management LLC acquired a new position in National Grid Transco during the second quarter valued at approximately $35,000. Salomon & Ludwin LLC lifted 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 buying an additional 464 shares in the last quarter. ESL Trust Services LLC grew its stake in National Grid Transco by 71.4% during the third quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider’s stock worth $35,000 after buying an additional 200 shares during the period. Finally, Huntington National Bank increased its position in shares of National Grid Transco by 41.1% in the second quarter. Huntington National Bank now owns 501 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 146 shares in the last quarter. 4.68% of the stock is currently 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.