National Grid plc (NYSE:NGG) Sees Significant Decrease in Short Interest

National Grid plc (NYSE:NGG) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,030,000 shares, a decrease of 29.5% from the February 28th total of 1,460,000 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 687,900 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Trading of National Grid

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGG. Whipplewood Advisors LLC acquired a new stake in shares of National Grid in the fourth quarter worth approximately $25,000. Brown Brothers Harriman & Co. raised its stake in National Grid by 67.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC boosted its holdings in shares of National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 415 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of National Grid by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 192 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of National Grid during the 3rd quarter valued at $60,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 2.7 %

Shares of NYSE:NGG traded up $1.73 during midday trading on Friday, reaching $65.66. The company’s stock had a trading volume of 839,670 shares, compared to its average volume of 614,640. The firm has a market cap of $64.24 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The business has a 50 day moving average price of $61.92 and a 200 day moving average price of $63.03. National Grid has a 1 year low of $54.24 and a 1 year high of $72.21. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

Analysts Set New Price Targets

NGG has been the topic of a number of recent research reports. Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus 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.