National Grid plc (NYSE:NGG) Sees Large Decrease in Short Interest

National Grid plc (NYSE:NGG - Get Free Report) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 1,030,000 shares, a decline of 29.5% from the February 28th total of 1,460,000 shares. Based on an average daily trading volume, of 687,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in shares of National Grid by 20.0% in the 4th quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider's stock worth $62,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC increased its stake in National Grid by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after acquiring an additional 192 shares during the last quarter. Verdence Capital Advisors LLC raised its position in National Grid by 0.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 23,925 shares of the utilities provider's stock valued at $1,422,000 after purchasing an additional 196 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of National Grid by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 198 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of National Grid by 1.6% in the 4th quarter. Two Sigma Advisers LP now owns 12,500 shares of the utilities provider's stock worth $743,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 4.68% of the company's stock.

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National Grid Price Performance

NGG traded up $3.62 during trading on Thursday, reaching $69.40. 1,056,940 shares of the company traded hands, compared to its average volume of 684,962. The company has a market cap of $67.90 billion, a P/E ratio of 13.35, a PEG ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid has a 12-month low of $55.13 and a 12-month high of $73.40. The firm has a fifty day simple moving average of $62.24 and a 200 day simple moving average of $62.95.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein raised shares of National Grid from a "market perform" rating to an "outperform" rating in a report on Monday, March 17th. StockNews.com upgraded shares of National Grid from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Citigroup upgraded National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, National Grid presently has an average rating of "Moderate Buy".

About National Grid

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.