National Grid Transco, PLC (NYSE:NGG) Short Interest Update

National Grid Transco, PLC (NYSE:NGG) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 1,301,198 shares, a decrease of 43.7% from the May 31st total of 2,312,476 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 966,873 shares, the days-to-cover ratio is presently 1.3 days.

National Grid Transco Trading Up 3.3%

NGG stock traded up $2.64 during trading hours on Thursday, reaching $82.82. The stock had a trading volume of 1,103,734 shares, compared to its average volume of 1,210,529. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.71 and a current ratio of 0.76. The stock has a 50-day simple moving average of $83.92 and a 200 day simple moving average of $84.58. National Grid Transco has a fifty-two week low of $67.51 and a fifty-two week high of $94.64.

National Grid Transco Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, July 23rd. Stockholders of record on Friday, May 29th will be paid a dividend of $2.1738 per share. This represents a dividend yield of 533.0%. The ex-dividend date is Friday, May 29th.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group reissued a “sell” rating on shares of National Grid Transco in a research report on Monday, March 16th. Morgan Stanley restated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of National Grid Transco in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft lowered National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Jefferies Financial Group restated a “hold” rating on shares of National Grid Transco in a research note on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $85.50.

Institutional Investors Weigh In On National Grid Transco

Institutional investors have recently made changes to their positions in the stock. Root Financial Partners LLC raised its stake in National Grid Transco by 88.2% in the fourth quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 149 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of National Grid Transco in the 3rd quarter valued at $25,000. Cullen Frost Bankers Inc. boosted its holdings in shares of National Grid Transco by 88.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of National Grid Transco in the 3rd quarter valued at $28,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of National Grid Transco in the 4th quarter valued at $34,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Company Profile

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.