National Grid plc (NYSE:NGG) Short Interest Update

National Grid plc (NYSE:NGG) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,080,000 shares, an increase 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.

National Grid Price Performance

NYSE NGG opened at $63.62 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The business has a 50 day simple moving average of $59.94 and a 200 day simple moving average of $64.70. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40.

National Grid Increases Dividend

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

Hedge Funds Weigh In On National Grid

A number of large investors have recently bought and sold shares of NGG. RFP Financial Group LLC lifted its position in shares of National Grid by 119.8% in the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Headlands Technologies LLC bought a new stake in National Grid during the 1st quarter worth about $27,000. Richardson Financial Services Inc. acquired a new position in shares of National Grid during the 1st quarter worth about $28,000. Creekmur Asset Management LLC acquired a new position in shares of National Grid during the 4th quarter worth about $29,000. Finally, Bessemer Group Inc. bought a new position in shares of National Grid in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Finally, 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from 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.