Short Interest in National Grid plc (NYSE:NGG) Decreases By 66.7%

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

Hedge Funds Weigh In On National Grid

A number of hedge funds have recently added to or reduced their stakes in NGG. Fortitude Family Office LLC bought a new position in shares of National Grid in the third quarter worth about $37,000. Eastern Bank bought a new position in shares of National Grid during the third quarter worth about $42,000. Quantbot Technologies LP bought a new position in National Grid during the 3rd quarter worth approximately $60,000. Addison Advisors LLC lifted its holdings in National Grid by 267.9% in the third quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock valued at $69,000 after buying an additional 718 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of National Grid by 45.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock valued at $70,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

Analyst Ratings Changes

NGG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

National Grid Trading Down 0.7 %

NYSE NGG traded down $0.44 on Tuesday, reaching $61.06. The stock had a trading volume of 734,117 shares, compared to its average volume of 956,101. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a fifty day moving average of $60.20 and a two-hundred day moving average of $63.75. National Grid has a 1-year low of $55.13 and a 1-year high of $73.40.

National Grid Dividend Announcement

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

About National Grid

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.