National Grid plc (NYSE:NGG) Short Interest Down 25.6% in September

National Grid plc (NYSE:NGG) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 899,700 shares, a drop of 25.6% from the September 15th total of 1,210,000 shares. Based on an average trading volume of 561,600 shares, the short-interest ratio is presently 1.6 days.

National Grid Stock Up 0.9 %

National Grid stock traded up $0.56 during mid-day trading on Friday, hitting $66.24. The company’s stock had a trading volume of 296,708 shares, compared to its average volume of 538,673. The business has a 50 day moving average price of $66.96 and a 200-day moving average price of $64.62. National Grid has a 12 month low of $55.13 and a 12 month high of $73.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91.

Analysts Set New Price Targets

A number of brokerages have recently commented on NGG. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On National Grid

Institutional investors have recently bought and sold shares of the stock. RFP Financial Group LLC raised its stake in shares of National Grid by 119.8% during the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Headlands Technologies LLC bought a new position in National Grid during the 1st quarter valued at approximately $27,000. Richardson Financial Services Inc. purchased a new stake in National Grid in the 1st quarter worth approximately $28,000. Creekmur Asset Management LLC bought a new stake in shares of National Grid in the 4th quarter worth approximately $29,000. Finally, Bessemer Group Inc. purchased a new position in shares of National Grid during the first quarter valued at approximately $29,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. It 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.