National Grid plc (NYSE:NGG) Short Interest Update

National Grid plc (NYSE:NGG) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,080,000 shares, a growth of 25.9% from the June 30th total of 858,000 shares. Based on an average daily volume of 734,300 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On National Grid

A number of institutional investors and hedge funds have recently bought and sold shares of NGG. Kingswood Wealth Advisors LLC purchased a new stake in National Grid in the fourth quarter valued at approximately $281,000. Global Retirement Partners LLC raised its stake in National Grid by 18.6% in the fourth quarter. Global Retirement Partners LLC now owns 1,301 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 204 shares in the last quarter. Caprock Group LLC raised its stake in National Grid by 15.5% in the fourth quarter. Caprock Group LLC now owns 5,871 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 786 shares in the last quarter. DAVENPORT & Co LLC raised its stake in National Grid by 6.3% in the fourth quarter. DAVENPORT & Co LLC now owns 70,514 shares of the utilities provider’s stock valued at $4,794,000 after purchasing an additional 4,162 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in National Grid by 22.7% in the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 153 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Stock Up 1.5 %

Shares of National Grid stock opened at $63.62 on Friday. The company’s 50-day moving average price is $59.94 and its 200-day moving average price is $64.70. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. National Grid has a 12-month low of $55.13 and a 12-month high of $73.40.

National Grid Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, July 19th. Investors of record on Friday, June 7th were paid a $2.4939 dividend. This is an increase from National Grid’s previous semi-annual dividend of $1.19. This represents a yield of 6%. The ex-dividend date was Friday, June 7th.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BNP Paribas upgraded shares of National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. Finally, StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.