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

Key Points

• Short interest fell by 12.9% to 2,037,417 shares as of Feb. 27, leaving a days-to-cover ratio of 1.5 and about 0.2% of the company's shares shorted.
• Analysts' consensus is a Hold with an average target of $83.80 (3 Buy, 4 Hold, 2 Sell), and recent downgrades from BNP Paribas Exane and Zacks.
• Large institutions (Bank of America, Royal Bank of Canada, Morgan Stanley, Federated Hermes) increased stakes and Milford Funds initiated a new position, while NGG traded at $91.04 (+0.2%) near its 52‑week high of $94.64.

National Grid Transco, PLC (NYSE:NGG - Get Free Report) was the recipient of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 2,037,417 shares, a decline of 12.9% from the February 12th total of 2,340,175 shares. Based on an average trading volume of 1,355,424 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the company's shares are short sold. Currently, 0.2% of the company's shares are short sold. Based on an average trading volume of 1,355,424 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. BNP Paribas Exane lowered shares of National Grid Transco from an "outperform" rating to an "underperform" rating in a report on Monday, November 24th. Zacks Research lowered National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of National Grid Transco in a report on Thursday, January 22nd. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research report on Monday, January 26th. Finally, National Bank Financial set a $85.50 price target on National Grid Transco in a research note on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.80.

Institutional Investors Weigh In On National Grid Transco

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in National Grid Transco by 3.4% during the 3rd quarter. Bank of America Corp DE now owns 4,751,505 shares of the utilities provider's stock worth $345,292,000 after purchasing an additional 155,118 shares in the last quarter. Federated Hermes Inc. grew its position in National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider's stock valued at $238,112,000 after buying an additional 66,456 shares during the period. Milford Funds Ltd. purchased a new stake in National Grid Transco during the fourth quarter worth about $183,208,000. Royal Bank of Canada raised its position in National Grid Transco by 8.3% in the fourth quarter. Royal Bank of Canada now owns 2,313,445 shares of the utilities provider's stock worth $178,945,000 after acquiring an additional 176,840 shares during the period. Finally, Morgan Stanley boosted its stake in National Grid Transco by 1.4% in the fourth quarter. Morgan Stanley now owns 2,199,519 shares of the utilities provider's stock valued at $170,133,000 after acquiring an additional 29,832 shares during the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Up 0.2%

Shares of National Grid Transco stock traded up $0.15 on Tuesday, hitting $91.04. 830,714 shares of the company's stock traded hands, compared to its average volume of 1,071,779. The company has a fifty day moving average of $86.88 and a two-hundred day moving average of $78.94. National Grid Transco has a one year low of $62.13 and a one year high of $94.64. The company has a quick ratio of 0.90, a current ratio of 0.97 and a debt-to-equity ratio of 1.14.

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.

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