National Grid plc (NYSE:NGG) Short Interest Up 27.8% in May

National Grid plc (NYSE:NGGGet Rating) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 983,700 shares, a growth of 27.8% from the May 15th total of 769,900 shares. Based on an average daily trading volume, of 389,100 shares, the days-to-cover ratio is presently 2.5 days.

Several analysts recently commented on NGG shares. StockNews.com upgraded National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday. Morgan Stanley cut National Grid from an “overweight” rating to an “equal weight” rating in a research report on Thursday, February 17th. Berenberg Bank cut National Grid from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Investec cut National Grid to a “buy” rating in a report on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft cut National Grid from a “buy” rating to a “hold” rating in a report on Monday, April 25th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $1,136.67.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ahrens Investment Partners LLC purchased a new position in shares of National Grid in the 4th quarter valued at about $27,000. Ellevest Inc. purchased a new position in National Grid during the 4th quarter worth approximately $30,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in National Grid during the 1st quarter worth approximately $31,000. Newbridge Financial Services Group Inc. grew its stake in shares of National Grid by 120.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 457 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 250 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of National Grid by 65.4% in the 1st quarter. JFS Wealth Advisors LLC now owns 425 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 168 shares during the last quarter. 3.49% of the stock is currently owned by hedge funds and other institutional investors.

NGG traded down $0.30 during mid-day trading on Thursday, hitting $64.51. 18,238 shares of the stock were exchanged, compared to its average volume of 408,964. The firm’s fifty day moving average is $74.29 and its two-hundred day moving average is $73.36. National Grid has a 1-year low of $59.53 and a 1-year high of $80.20. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.73 and a quick ratio of 0.70.

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, August 17th. Investors of record on Monday, June 6th will be paid a dividend of $1.1573 per share. This represents a yield of 4.1%. The ex-dividend date is Friday, June 3rd.

National Grid Company Profile (Get Rating)

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,236 kilometers of overhead lines.

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