National Grid plc (NYSE:NGG) Short Interest Update

National Grid plc (NYSE:NGG) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 331,500 shares, a decline of 66.7% from the December 31st total of 995,700 shares. Based on an average daily trading volume, of 544,300 shares, the days-to-cover ratio is presently 0.6 days.

National Grid Price Performance

NYSE NGG traded down $0.44 during trading hours on Tuesday, reaching $61.06. 734,117 shares of the company’s stock were exchanged, compared to its average volume of 956,101. National Grid has a one year low of $55.13 and a one year high of $73.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The company’s 50-day moving average is $60.20 and its two-hundred day moving average is $63.75.

National Grid Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, November 22nd were given a $2.4939 dividend. The ex-dividend date was Friday, November 22nd. This represents a yield of 4%.

Institutional Investors Weigh In On National Grid

Several institutional investors have recently added to or reduced their stakes in NGG. FMR LLC grew its position in National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after purchasing an additional 1,739,566 shares in the last quarter. Merewether Investment Management LP bought a new position in shares of National Grid in the 3rd quarter valued at about $66,535,000. Ausbil Investment Management Ltd acquired a new stake in shares of National Grid in the third quarter valued at about $62,421,000. Mediolanum International Funds Ltd bought a new stake in National Grid during the third quarter worth about $38,021,000. Finally, International Assets Investment Management LLC acquired a new position in National Grid during the third quarter valued at approximately $12,222,000. 4.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, National Grid presently has an average rating of “Moderate Buy”.

National Grid 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.