National Grid Transco, PLC (NYSE:NGG) Short Interest Update

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

Analyst Upgrades and Downgrades

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

National Grid Transco Price Performance

Shares of NYSE NGG opened at $79.14 on Wednesday. The stock has a fifty day moving average of $81.49 and a 200-day moving average of $84.77. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.09. National Grid Transco has a fifty-two week low of $67.51 and a fifty-two week high of $94.64.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Trust Advisors LP grew its position in National Grid Transco by 44.1% during the first quarter. First Trust Advisors LP now owns 26,665 shares of the utilities provider’s stock worth $2,256,000 after buying an additional 8,162 shares in the last quarter. Miller Howard Investments Inc. NY lifted its position in National Grid Transco by 23.5% during the first quarter. Miller Howard Investments Inc. NY now owns 120,490 shares of the utilities provider’s stock valued at $10,193,000 after purchasing an additional 22,898 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in National Grid Transco in the 1st quarter worth approximately $21,277,000. ABC Arbitrage SA raised its position in shares of National Grid Transco by 30.3% during the 4th quarter. ABC Arbitrage SA now owns 312,202 shares of the utilities provider’s stock valued at $24,149,000 after buying an additional 72,643 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in National Grid Transco by 54.0% in the fourth quarter. Bleakley Financial Group LLC now owns 21,364 shares of the utilities provider’s stock worth $1,652,000 after acquiring an additional 7,488 shares in the last quarter. 4.68% of the stock is owned by institutional investors.

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.