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

National Grid Transco, PLC (NYSE:NGG) was the target of a large increase in short interest in the month of 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. Based on an average daily trading volume, of 678,380 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.1% of the company’s shares are short sold.

National Grid Transco Stock Down 0.0%

Shares of NGG traded down $0.02 on Tuesday, reaching $79.14. The stock had a trading volume of 846,992 shares, compared to its average volume of 1,093,725. 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 company has a 50-day simple moving average of $81.49 and a 200-day simple moving average of $84.77. National Grid Transco has a 12-month low of $67.51 and a 12-month high of $94.64.

Wall Street Analysts Forecast Growth

Several equities analysts have 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Friday, July 17th. Morgan Stanley reissued an “overweight” rating on shares of National Grid Transco in a research report on Friday, May 29th. Wall Street Zen lowered shares of National Grid Transco from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of National Grid Transco from a “buy” rating to a “hold” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $85.50.

Institutional Trading of National Grid Transco

A number of hedge funds and other institutional investors have recently modified their holdings of NGG. Corient Private Wealth LP boosted its stake in National Grid Transco by 2.9% during the second quarter. Corient Private Wealth LP now owns 86,620 shares of the utilities provider’s stock worth $7,179,000 after acquiring an additional 2,478 shares in the last quarter. Kintra Wealth LLC bought a new position in shares of National Grid Transco during the second quarter valued at approximately $286,000. HB Wealth Management LLC lifted its holdings in shares of National Grid Transco by 3.7% during the second quarter. HB Wealth Management LLC now owns 15,223 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 546 shares during the last quarter. William John Sempolinski purchased a new position in shares of National Grid Transco during the second quarter valued at approximately $1,138,000. Finally, Syon Capital LLC boosted its position in shares of National Grid Transco by 5.9% in the 2nd quarter. Syon Capital LLC now owns 17,458 shares of the utilities provider’s stock worth $1,447,000 after purchasing an additional 976 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

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.