National Grid Transco, PLC (NYSE:NGG) Short Interest Down 47.7% in July

National Grid Transco, PLC (NYSE:NGG) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 792,811 shares, a drop of 47.7% from the June 30th total of 1,516,917 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 864,534 shares, the short-interest ratio is currently 0.9 days.

National Grid Transco Trading Up 1.8%

NGG traded up $1.43 during midday trading on Thursday, reaching $80.31. The company had a trading volume of 887,214 shares, compared to its average volume of 1,152,722. National Grid Transco has a 12-month low of $67.51 and a 12-month high of $94.64. The business has a 50-day moving average price of $82.30 and a two-hundred day moving average price of $85.30. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 1.09.

National Grid Transco Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 23rd. Investors of record on Friday, May 29th were paid a $2.1738 dividend. The ex-dividend date was Friday, May 29th. This represents a yield of 533.0%.

Institutional Trading of National Grid Transco

A number of large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of National Grid Transco by 3.4% during the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider’s stock valued at $345,292,000 after buying an additional 155,118 shares during the last quarter. Federated Hermes Inc. raised its stake in National Grid Transco by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 3,169,406 shares of the utilities provider’s stock valued at $245,154,000 after acquiring an additional 9,928 shares during the period. Milford Funds Ltd. purchased a new stake in National Grid Transco during the fourth quarter valued at about $183,208,000. Royal Bank of Canada lifted its holdings in National Grid Transco by 8.3% during the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider’s stock valued at $178,945,000 after purchasing an additional 176,840 shares during the last quarter. Finally, Morgan Stanley boosted its position in National Grid Transco by 1.4% during the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider’s stock worth $170,133,000 after purchasing an additional 29,832 shares during the period. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NGG shares. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, April 28th. Morgan Stanley reiterated an “overweight” rating on shares of National Grid Transco in a report on Friday, May 29th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a research report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded National Grid Transco from a “buy” rating to a “hold” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, National Grid Transco presently has a consensus rating of “Reduce” and a consensus price target of $85.50.

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.