National Grid

National Grid is a holding company. Through its subsidiaries, Co. owns and operates regulated electricity and gas infrastructure networks in the U.K. and the U.S. Co. operates through five business segments: U.K. Electricity Transmission, U.K. Gas Transmission, U.K. Gas Distribution, U.S. Regulated, and Other Activities, primarily relating to non-regulated businesses and other commercial operations not included within the above segments, including: the Great Britain-France electricity interconnector; U.K. based gas metering activities; U.K. property management; a U.K. LNG import terminal; U.S. LNG operations; and U.S. unregulated transmission pipelines, together with corporate activities.
  • TickerNG.
  • ISINGB00BDR05C01
  • ExchangeLondon Stock Exchange
  • SectorGas, Water & Multi-utilities
  • CountryUnited States

Analysts

Philip Morrish

Value Indicator - UK Utilities 20052019

Currently '(TM)Value Indicator - UK Utilities' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the user with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 20052019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Tancrede Fulop

Morningstar | National Grid Releases 2019 Results in Line With Estimates; Shares Overvalued

We reiterate our GBX 780 fair value estimate and no-moat, stable trend ratings after National Grid released fiscal 2019 underlying results in line with consensus expectations, though slightly above ours. The regulatory backdrop in the United Kingdom remains highly uncertain with the upcoming returns cut in RIIO-2 and nationalisation threat from the Labour Party. The shares look overvalued. Underlying EBIT decreased 2% to EUR 3.4 billion, in line with expectations but above our EUR 3.26 billion forecast. Underlying earnings per share grew 5% to GBX 58.9, slightly above consensus' GBX 57.8 and ...

Tancrede Fulop

National Grid Releases 2019 Results in Line With Estimates; Shares Overvalued

We reiterate our GBX 780 fair value estimate and no-moat, stable trend ratings after National Grid released fiscal 2019 underlying results in line with consensus expectations, though slightly above ours. The regulatory backdrop in the United Kingdom remains highly uncertain with the upcoming returns cut in RIIO-2 and nationalisation threat from the Labour Party. The shares look overvalued.  Underlying EBIT decreased 2% to EUR 3.4 billion, in line with expectations but above our EUR 3.26 billion ...

Philip Morrish

Value Indicator - UK Utilities 13052019

Currently '(TM)Value Indicator - UK Utilities' is a value analysis of the Telecom and Utilities sectors of quoted companies on the London Stock Exchage's main market that provides the reader with indicative longer-term target prices.

Tancrede Fulop

Morningstar | National Grid Releases 2019 Results in Line With Estimates; Shares Overvalued

We reiterate our GBX 780 fair value estimate and no-moat, stable trend ratings after National Grid released fiscal 2019 underlying results in line with consensus expectations, though slightly above ours. The regulatory backdrop in the United Kingdom remains highly uncertain with the upcoming returns cut in RIIO-2 and nationalisation threat from the Labour Party. The shares look overvalued. Underlying EBIT decreased 2% to EUR 3.4 billion, in line with expectations but above our EUR 3.26 billion forecast. Underlying earnings per share grew 5% to GBX 58.9, slightly above consensus' GBX 57.8 and ...

Tancrede Fulop

National Grid Releases 2019 Results in Line With Estimates; Shares Overvalued

We reiterate our GBX 780 fair value estimate and no-moat, stable trend ratings after National Grid released fiscal 2019 underlying results in line with consensus expectations, though slightly above ours. The regulatory backdrop in the United Kingdom remains highly uncertain with the upcoming returns cut in RIIO-2 and nationalisation threat from the Labour Party. The shares look overvalued.  Underlying EBIT decreased 2% to EUR 3.4 billion, in line with expectations but above our EUR 3.26 billion ...

Tancrede Fulop

Morningstar | New Morningstar Analyst Report for National Grid PLC

National Grid has grown into one of the largest utilities in the world since U.K. regulators unbundled energy distribution, transmission, and supply in the 1980s. National Grid began acquiring Northeastern U.S. utilities in 2000 and made its biggest move buying New York-based Keyspan for $11.8 billion in August 2007.National Grid's long-term U.K. rate structures offer transparent earnings and dividend growth at least in line with inflation. The dividend grew 10% annually on average between 2005 and 2012, but dividend growth has slowed dramatically as financing needs required management to targ...

Tancrede Fulop

New Morningstar Analyst Report for National Grid PLC

U.K. regulator Ofgem has proposed to reduce real baseline return for gas and electricity transmission networks from 7%-8% currently to 4% in the next regulatory period, RIOO-2, due to start in April 2021. This is below our expectation of a cut to 5% and at the bottom of the 4%-6% range laid out by Ofgem in March 2018. Ofgem also proposed to keep the adjusted cost of debt unchanged, in line with our assumptions. These proposals are part of a wide consultation process on the features of RIIO-2 tha...

National Grid Plc

A director bought 43,128 shares at 805p and

A director at National Grid bought 43,128 shares at 805p and the significance rating of the trade was 94/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Philip Morrish

Value Indicator - UK Utilities 20052019

Currently '(TM)Value Indicator - UK Utilities' is a value analysis of the Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the user with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 20052019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Utilities 13052019

Currently '(TM)Value Indicator - UK Utilities' is a value analysis of the Telecom and Utilities sectors of quoted companies on the London Stock Exchage's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 13052019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the user with indicative longer-term target prices.

With a more favourable environment, NATIONAL GRID PLC. improves to Positive

NATIONAL GRID PLC. (GB), a company active in the Multiutilities industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 2 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date May 10, 2019, the closing price was GBp 835.50 and its potential was estimated at GBp 922.58.

MarketLine Department

Centrica plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Centrica plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Centrica plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlight...

MarketLine Department

Fortum Corporation - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Fortum Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Fortum Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

National Grid plc - Strategy, SWOT and Corporate Finance Report

Summary National Grid plc - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Findings - Detailed information on National Grid plc required for business and competitor intelligence needs - A study of the major internal and external factors affecting National Grid plc in the form of a SWOT analysis - An in-depth view of the business model of National Grid plc including a breakdow...

National Grid – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

National Grid - Proxy report - 30/07/2018

Leadership changes On July 29, 2018, Andrew Bonfield, Finance Director, resigned. Item 15: Approve the Remuneration Report The structure is weighted more towards rewarding long-term performance. Thoughslightly mitigated by the salary rate, actual and potential incentive pay is excessive, accelerated vesting in the event of a change of control is possible and there are overlapping performance metrics. Both the STI and LTI use ROE as a performance metric. Additionally, the Value Growth metric used to determine half of the LTI may incentivize acquisitions as it includes goodwill.

Expert Corporate Governance Service (ECGS)

Etude l' AG du 31/07/2017

 Item 14: Appoint the auditors. Following the audit tender process undertaken last year, Deloitte is proposed as the new external auditor.Item 17:  Approve the Remuneration Report. The structure is weighted more towards rewarding long-term performance, but accelerated vesting in the event of a change of control is possible and the quantum is excessive. Both the STI and LTI use ROE as a performance metric. Furthermore, the Company paid excessive benefits to the new CEO for his relocation to London and made a recruitment award to a new executive director.    

Jérôme VINERIER

Short term view - NATIONAL GRID : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at 836.50 p and 878.00 p. The trend would be invalidated below the support at 707.50 p.

Jérôme VINERIER

Analyse court terme - NATIONAL GRID : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 836,50 p et 878,00 p. La tendance serait invalidée sous le support à 707,50 p.

Jérôme VINERIER

Analyse court terme - NATIONAL GRID : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 836,50 p et 878,00 p. La tendance serait invalidée sous le support à 707,50 p.

Jérôme VINERIER

Short term view - NATIONAL GRID : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at 836.50 p and 878.00 p. The trend would be invalidated below the support at 707.50 p.

Jérôme VINERIER

Analyse moyen terme - NATIONAL GRID : La tendance est baissière.

La tendance est baissière. Le rebond gagne en vigueur. Il est probable que cette reprise s'achève sur la résistance à 879,00 p et que les prix baissent à nouveau vers 770,00 p. La tendance de fond serait remise en cause en cas de franchissement de 879,00 p.

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