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

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

National Grid Stock Up 1.0 %

Shares of National Grid stock opened at $66.89 on Tuesday. National Grid has a 52-week low of $55.13 and a 52-week high of $73.40. The company’s 50-day simple moving average is $67.05 and its 200-day simple moving average is $64.59. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On National Grid

Institutional investors have recently added to or reduced their stakes in the business. RFP Financial Group LLC lifted its holdings in shares of National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after buying an additional 200 shares during the period. Headlands Technologies LLC acquired a new stake in National Grid in the first quarter valued at $27,000. Richardson Financial Services Inc. purchased a new stake in shares of National Grid during the 1st quarter worth $28,000. Creekmur Asset Management LLC acquired a new position in shares of National Grid during the 4th quarter worth $29,000. Finally, Bessemer Group Inc. purchased a new position in shares of National Grid in the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

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.