National Grid plc (NYSE:NGG) Short Interest Down 13.0% in May

National Grid plc (NYSE:NGG) saw a significant decline in short interest in May. As of May 15th, there was short interest totalling 2,010,000 shares, a decline of 13.0% from the April 30th total of 2,310,000 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 917,400 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of recent research reports. Wall Street Zen cut National Grid from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of National Grid in a research note on Wednesday, May 21st. Barclays reaffirmed an “overweight” rating on shares of National Grid in a report on Friday, May 16th. BNP Paribas Exane started coverage on National Grid in a report on Thursday, May 29th. They issued an “outperform” rating and a $80.40 price objective for the company. Finally, Citigroup reaffirmed a “neutral” rating on shares of National Grid in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, National Grid presently has an average rating of “Moderate Buy” and an average price target of $80.40.

National Grid Stock Performance

NGG opened at $71.07 on Thursday. The firm has a market cap of $69.54 billion, a PE ratio of 13.67, a P/E/G ratio of 5.64 and a beta of 0.63. The business has a fifty day simple moving average of $70.34 and a 200-day simple moving average of $64.29. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid has a fifty-two week low of $54.24 and a fifty-two week high of $74.82.

National Grid Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, May 30th will be given a $2.0345 dividend. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 4.7%. National Grid’s dividend payout ratio (DPR) is presently 78.08%.

Institutional Trading of National Grid

Several hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC purchased a new stake in shares of National Grid during the fourth quarter worth $25,000. Golden State Wealth Management LLC acquired a new stake in shares of National Grid in the first quarter valued at about $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of National Grid in the first quarter valued at about $29,000. Brown Brothers Harriman & Co. increased 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 valued at $29,000 after acquiring an additional 198 shares during the period. Finally, Capital Analysts LLC increased its stake in National Grid by 33.6% during the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

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.