Short Interest in National Grid Transco, PLC (NYSE:NGG) Grows By 64.2%

National Grid Transco, PLC (NYSE:NGG) was the recipient of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 1,236,153 shares, a growth of 64.2% from the July 30th total of 752,736 shares. Based on an average trading volume of 678,380 shares, the short-interest ratio is currently 1.8 days. Approximately 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NGG shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Grid Transco in a research note on Monday, June 1st. Wall Street Zen lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft cut National Grid Transco from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Finally, Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 29th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $85.50.

Institutional Investors Weigh In On National Grid Transco

A number of institutional investors have recently made changes to their positions in NGG. Sound Income Strategies LLC grew its stake in National Grid Transco by 13.6% during the first quarter. Sound Income Strategies LLC now owns 1,075 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 129 shares during the period. Root Financial Partners LLC raised its holdings in shares of National Grid Transco by 88.2% in the 4th quarter. Root Financial Partners LLC now owns 318 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 149 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of National Grid Transco by 28.1% in the third quarter. IFP Advisors Inc now owns 692 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 152 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in National Grid Transco by 88.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 346 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Finally, Keel Point LLC lifted its position in shares of National Grid Transco by 5.4% during the 4th quarter. Keel Point LLC now owns 3,182 shares of the utilities provider’s stock worth $246,000 after buying an additional 163 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Stock Down 0.2%

NGG traded down $0.19 during trading hours on Monday, reaching $79.16. The company’s stock had a trading volume of 356,622 shares, compared to its average volume of 1,095,212. National Grid Transco has a fifty-two week low of $67.51 and a fifty-two week high of $94.64. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average is $81.58 and its 200-day moving average is $84.91.

About National Grid Transco

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.