National Grid（NG.）株式概要ナショナル・グリッド plc は、電力とガスの送電と配電を行っている。 詳細NG. ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長2/6過去の実績5/6財務の健全性2/6配当金3/6報酬収益は年間11.02%増加すると予測されています 過去1年間で収益は14.7%増加しました リスク分析負債は営業キャッシュフローで十分にカバーされていない 3.79%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見るNG. Community Fair Values Create NarrativeSee what 173 others think this stock is worth. Follow their fair value or set your own to get alerts.Analyst Price TargetsAN7.0% undervaluedAnalystConsensusTarget•1mo agoPlanned £60 Billion Investment Will Strengthen Energy Networks And Operational Efficiency8921108Top Analyst NarrativesNational GridANAnalystConsensusTargetBased on Analyst Price TargetsPlanned £60 Billion Investment Will Strengthen Energy Networks And Operational EfficiencyKey Takeaways National Grid plans massive network investments to drive asset growth, boost future revenues, and stabilize earnings. Strategic initiatives like asset sales and streamlined processes support margins while enhancing earnings and operational efficiency.View narrativeUK£13.78FV7.0% 割安 内在価値ディスカウント11.81%Revenue growth p.a.Set Fair ValueView892users have viewed this narrative1users have liked this narrative1users have commented on this narrative108users have followed this narrativeabout 1 month ago author updated this narrativeView all narrativesNational Grid plc 競合他社Telecom PlusSymbol: LSE:TEPMarket cap: UK£852.6mSSESymbol: LSE:SSEMarket cap: UK£29.3bEngieSymbol: ENXTPA:ENGIMarket cap: €66.1bSempraSymbol: NYSE:SREMarket cap: US$60.7b価格と性能株価の高値、安値、推移の概要National Grid過去の株価現在の株価UK£12.8152週高値UK£14.2952週安値UK£10.00ベータ0.621ヶ月の変化-1.08%3ヶ月変化-6.70%1年変化17.42%3年間の変化17.58%5年間の変化36.39%IPOからの変化337.74%最新ニュース分析記事 • May 21We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising EarningsNational Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...Declared Dividend • May 17Final dividend increased to UK£0.32Dividend of UK£0.32 is 4.1% higher than last year. Ex-date: 28th May 2026 Payment date: 23rd July 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover.ライブニュース • May 16National Grid Targets Growth With £70 Billion Investment as Shares Face Near-Term PressureNational Grid set out a record £70b five-year investment plan focused on modernising and expanding electricity and gas infrastructure in the UK and US Northeast, including over £30b for UK transmission upgrades. The company reported underlying operating profit of about £5.4b, which management described as a 9–10% increase, alongside expectations for compound annual asset growth near 10% and underlying EPS growth in an 8–15% range through 2030/31. For the year to March 2026, National Grid reported capital investment of £11.6b, asset growth of 10.9%, underlying EPS growth of 8% and a 3.8% dividend increase, while the stock fell 5% and traded below short and medium-term moving averages. The combination of a very large, regulated capex program and stated growth targets for assets and EPS underlines how much of the investment story here hinges on execution and ongoing regulatory support on both sides of the Atlantic. Short-term technical pressure and consolidation signals sit against that longer-term investment plan, so you may want to weigh near-term share price volatility against the scale of the committed infrastructure spend and dividend profile.お知らせ • May 15+ 1 more updateNational Grid plc Provides Earnings Guidance for 2026/27National Grid plc provided earnings guidance for 2026/27. For 2026/27, The company expects strong operational performance across the Group with underlying EPS expected to increase 13%-15% from the 2025/26 baseline reflecting higher allowed revenue as the company step up delivery from RIIO-T2 to RIIO-T3.Reported Earnings • May 14Full year 2026 earnings: EPS and revenues miss analyst expectationsFull year 2026 results: EPS: UK£0.66 (up from UK£0.60 in FY 2025). Revenue: UK£17.7b (down 3.8% from FY 2025). Net income: UK£3.24b (up 15% from FY 2025). Profit margin: 18% (up from 15% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.ナラティブの更新 • Apr 22NG.: Grid AI Collaboration And Margin Discipline Will Shape Earnings ResilienceAnalysts have nudged their fair value estimate for National Grid to £13.78, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a marginally richer future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated fair value estimate of £13.78 as support for National Grid's role as a regulated utility with relatively visible earnings, which can help anchor valuation assumptions.最新情報をもっと見るRecent updates分析記事 • May 21We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising EarningsNational Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...Declared Dividend • May 17Final dividend increased to UK£0.32Dividend of UK£0.32 is 4.1% higher than last year. Ex-date: 28th May 2026 Payment date: 23rd July 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover.ライブニュース • May 16National Grid Targets Growth With £70 Billion Investment as Shares Face Near-Term PressureNational Grid set out a record £70b five-year investment plan focused on modernising and expanding electricity and gas infrastructure in the UK and US Northeast, including over £30b for UK transmission upgrades. The company reported underlying operating profit of about £5.4b, which management described as a 9–10% increase, alongside expectations for compound annual asset growth near 10% and underlying EPS growth in an 8–15% range through 2030/31. For the year to March 2026, National Grid reported capital investment of £11.6b, asset growth of 10.9%, underlying EPS growth of 8% and a 3.8% dividend increase, while the stock fell 5% and traded below short and medium-term moving averages. The combination of a very large, regulated capex program and stated growth targets for assets and EPS underlines how much of the investment story here hinges on execution and ongoing regulatory support on both sides of the Atlantic. Short-term technical pressure and consolidation signals sit against that longer-term investment plan, so you may want to weigh near-term share price volatility against the scale of the committed infrastructure spend and dividend profile.お知らせ • May 15+ 1 more updateNational Grid plc Provides Earnings Guidance for 2026/27National Grid plc provided earnings guidance for 2026/27. For 2026/27, The company expects strong operational performance across the Group with underlying EPS expected to increase 13%-15% from the 2025/26 baseline reflecting higher allowed revenue as the company step up delivery from RIIO-T2 to RIIO-T3.Reported Earnings • May 14Full year 2026 earnings: EPS and revenues miss analyst expectationsFull year 2026 results: EPS: UK£0.66 (up from UK£0.60 in FY 2025). Revenue: UK£17.7b (down 3.8% from FY 2025). Net income: UK£3.24b (up 15% from FY 2025). Profit margin: 18% (up from 15% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.ナラティブの更新 • Apr 22NG.: Grid AI Collaboration And Margin Discipline Will Shape Earnings ResilienceAnalysts have nudged their fair value estimate for National Grid to £13.78, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a marginally richer future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated fair value estimate of £13.78 as support for National Grid's role as a regulated utility with relatively visible earnings, which can help anchor valuation assumptions.ナラティブの更新 • Apr 08NG.: Grid Optimization And Execution Discipline Will Shape Earnings Resilience And Future P/EAnalysts have raised their price target on National Grid to £13.63 from £13.53, citing slightly higher assumptions for revenue growth, profit margin and future P/E as the main drivers of the change. Analyst Commentary Analysts are updating their views on National Grid in light of the revised price target, with attention on how the company can support its valuation through consistent execution and disciplined capital allocation.ナラティブの更新 • Mar 24NG.: Execution On Regulated Projects Will Shape Future Earnings Resilience And P/E FrameworkAnalysts have lifted their price target for National Grid to £13.53 from £13.14, citing slightly higher assumptions for revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target of £13.53 as better aligned with their updated assumptions for revenue and margin potential, which they view as more supportive of the current P/E framework.ナラティブの更新 • Mar 10NG.: Margin Resilience And P/E Expectations Will Shape Predictable Future ReturnsAnalysts have nudged their National Grid fair value estimate higher from £12.47 to £13.14, pointing to slightly firmer profit margin expectations and a modestly higher future P/E multiple, even as revenue growth assumptions are trimmed. Analyst Commentary Bullish Takeaways Bullish analysts view the uplift in fair value to £13.14 as consistent with a business that can sustain firmer profit margins over time, which they see as supportive of the overall earnings quality story.ナラティブの更新 • Feb 24NG.: Earnings Quality And Regulation Will Shape Predictable Future ReturnsAnalysts have adjusted their price target on National Grid to £12.47, reflecting updated views on revenue growth, profit margins and future P/E assumptions, while keeping key valuation inputs broadly unchanged. Analyst Commentary Bullish Takeaways Bullish analysts view the reaffirmed assumptions on revenue and profit margins as supportive of the revised £12.47 target and suggest the current P/E framework is still seen as appropriate for National Grid's earnings profile.ナラティブの更新 • Feb 10NG.: Dividend Outlook And Regulation Will Shape Steady Future ReturnsAnalysts have slightly raised their price target on National Grid, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that together point to a modestly higher implied equity value. Analyst Commentary Bullish Takeaways Bullish analysts see the updated assumptions on fair value and discount rate as broadly consistent with a regulated utility earning a steady return, which they view as supportive of the slightly higher price target.分析記事 • Feb 04Estimating The Intrinsic Value Of National Grid plc (LON:NG.)Key Insights Using the Dividend Discount Model, National Grid fair value estimate is UK£12.16 National Grid's UK£12.56...ナラティブの更新 • Jan 26NG.: Dividend Outlook And Regulation Will Shape Steady Long Term ReturnsNarrative Update Overview Analysts have modestly raised their fair value estimate for National Grid to £12.31 from £12.08, citing updated assumptions for future revenue growth, profit margins and P/E. These updates still use an unchanged 7.07% discount rate.分析記事 • Jan 20Is National Grid (LON:NG.) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...ナラティブの更新 • Jan 12NG.: Dividend Reliability And Regulatory Outcomes Will Guide Balanced Return PotentialNarrative Update The analyst price target for National Grid has been revised slightly higher to about $12.08 from $11.96, as analysts factor in a modestly higher fair value estimate and a small adjustment to future P/E assumptions, while keeping their core growth and margin expectations effectively unchanged. Analyst Commentary Recent research on National Grid focuses on fine tuning valuation inputs rather than changing the core business view.分析記事 • Jan 05Investors Appear Satisfied With National Grid plc's (LON:NG.) ProspectsNational Grid plc's ( LON:NG. ) price-to-earnings (or "P/E") ratio of 20x might make it look like a sell right now...ナラティブの更新 • Dec 18NG.: Dividend Outlook And Regulatory Outcomes Will Shape Returns AheadAnalysts have modestly raised their price target on National Grid, reflecting a slightly higher fair value estimate of approximately $11.96 as they factor in stronger anticipated revenue growth, partially offset by a small compression in forecast profit margins and future valuation multiples. Analyst Commentary Bullish analysts view the modestly higher price target as a reflection of improving growth visibility for National Grid, particularly as regulated asset base expansion and inflation-linked mechanisms support more resilient top line progression.お知らせ • Nov 28Centrica plc (LSE:CNA) and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.)Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.) for an enterprise value of £1.5 billion on August 14, 2025. A cash consideration will be paid by Centrica plc and Energy Capital Partners, LLC. The purchase of Grain LNG is for an enterprise value of £1.5 billion. Centrica's 50% share of the equity investment of approximately £200 million will be funded from it's existing cash resources. Centrica plc and Energy Capital Partners has also secured approximately £1.1 billion of committed financing, which will be drawn at closing, to fund a portion of the enterprise value. The transaction is conditional upon certain regulatory approvals being received, including approval under the National Security and Investment Act and certain mandatory anti-trust approvals. The completion of the transaction is expected to occur in Q4 this calendar year. Brian O'Keeffe, Conor Hennebry and Martin Weltman Banco Santander, S.A., London Branch acted as financial advisor for Centrica plc and Energy Capital Partners, LLC. Slaughter and May acted as legal advisor for Centrica plc. Latham & Watkins LLP acted as legal advisor for Centrica plc and Energy Capital Partners, LLC. Morgan Stanley acted as financial advisor to National Grid plc. Charles Steward, Caroline Rae, Reza Dadbakhsh, Silke Goldberg, David Coulling, Veronica Roberts, Howard Murray and Tim Leaver of Herbert Smith Freehills LLP acted as legal advisor to National Grid plc (LSE:NG.) Centrica plc (LSE:CNA) and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.) on November 28, 2025.ナラティブの更新 • Nov 18NG.: Revenue Expectations And Margin Pressures Will Shape Performance AheadNarrative Update: National Grid Analyst Price Target Increased Analysts have raised their price target for National Grid to $11.93, up from $11.78. They cite improved expectations for revenue growth despite a slightly higher discount rate and modestly lower profit margins.分析記事 • Nov 09National Grid (LON:NG.) Will Pay A Dividend Of £0.1635The board of National Grid plc ( LON:NG. ) has announced that it will pay a dividend on the 13th of January, with...Declared Dividend • Nov 09First half dividend increased to UK£0.16Dividend of UK£0.16 is 3.2% higher than last year. Ex-date: 20th November 2025 Payment date: 13th January 2026 Dividend yield will be 4.0%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (81% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Nov 07First half 2026 earnings: EPS and revenues miss analyst expectationsFirst half 2026 results: EPS: UK£0.13. Revenue: UK£7.07b (down 11% from 1H 2025). Net income: UK£617.0m (up 8.1% from 1H 2025). Profit margin: 8.7% (up from 7.2% in 1H 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 55%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Integrated Utilities industry in Europe.お知らせ • Nov 07National Grid plc Proposes Interim Dividend for the Year Ending 31 March 2026, Payable on 13 January 2026National Grid plc announced the Directors proposed an interim dividend of 16.35 pence per ordinary share ($1.0657 per American Depositary Share) in respect of the year ending 31 March 2026. The interim dividend is expected to be paid on 13 January 2026 to shareholders on the register as at 21 November 2025. Ex-dividend date for 2025-2026 interim dividend - ordinary shares was 20 November 2025. Ex-dividend date for 2025-2026 interim dividend – ADRs was 21 November 2025.お知らせ • Nov 06+ 1 more updateNational Grid plc to Report Fiscal Year 2026 Results on May 14, 2026National Grid plc announced that they will report fiscal year 2026 results on May 14, 2026お知らせ • Oct 02National Grid plc Provides Earnings Guidance for the Six Months Ended 30 September 2025National Grid plc provided earnings guidance for the six months ended 30 September 2025. For the period, the group's performance is in line with expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year. In UK Electricity Transmission and UK Electricity Distribution, company anticipate operating profit to be broadly evenly split across the year. In US regulated businesses, operating profits are expected to be weighted to the second half. Relative to the same period last year there have been fewer storms in New York business, as well as new electricity distribution rates in New England business. As such, company expect a slightly higher contribution to operating profit from both businesses in the first half relative to the profile last year. In National Grid Ventures company expect a roughly even weighting of profitability across the year.分析記事 • Sep 01National Grid plc's (LON:NG.) Share Price Not Quite Adding UpWith a price-to-earnings (or "P/E") ratio of 18.3x National Grid plc ( LON:NG. ) may be sending bearish signals at the...お知らせ • Aug 14Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.).Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.) on August 14, 2025. A cash consideration will be paid by Centrica plc and Energy Capital Partners, LLC. The purchase of Grain LNG is for an enterprise value of £1.5 billion. Centrica's 50% share of the equity investment of approximately £200 million will be funded from it's existing cash resources. Centrica plc and Energy Capital Partners has also secured approximately £1.1 billion of committed financing, which will be drawn at closing, to fund a portion of the enterprise value. The transaction is conditional upon certain regulatory approvals being received, including approval under the National Security and Investment Act and certain mandatory anti-trust approvals. The completion of the transaction is expected to occur in Q4 this calendar year. Brian O'Keeffe, Conor Hennebry and Martin Weltman Banco Santander, S.A., London Branch acted as financial advisor for Centrica plc and Energy Capital Partners, LLC. Slaughter and May acted as legal advisor for Centrica plc. Latham & Watkins LLP acted as legal advisor for Centrica plc and Energy Capital Partners, LLC. Morgan Stanley acted as financial advisor to National Grid plc.分析記事 • Aug 02Estimating The Intrinsic Value Of National Grid plc (LON:NG.)Key Insights Using the Dividend Discount Model, National Grid fair value estimate is UK£12.05 National Grid's UK£10.80...Board Change • Aug 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 9 experienced directors. 1 highly experienced director. Independent Non-Executive Director Jacqui Ferguson was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Buy Or Sell Opportunity • Jul 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.0% to UK£10.32. The fair value is estimated to be UK£12.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.分析記事 • Jun 17Does National Grid (LON:NG.) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...お知らせ • May 30+ 1 more updateNational Grid plc, Annual General Meeting, Jul 09, 2025National Grid plc, Annual General Meeting, Jul 09, 2025. Location: the ramphal building, warwick conferences, the university of warwick, library road, cv4 7al., coventry United KingdomDeclared Dividend • May 18Final dividend reduced to UK£0.31Dividend of UK£0.31 is 21% lower than last year. Ex-date: 29th May 2025 Payment date: 17th July 2025 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • May 16+ 1 more updateNational Grid plc Recommends Final Dividend, Payable on July 17, 2025National Grid plc announced that the board has recommended a final dividend to 30.88 pence per ordinary share ($2.0545 per American Depository Share), which will be paid on 17 July 2025 to shareholders on the register of members as at 30 May 2025. If approved, this will bring the full-year dividend to 46.72 pence per ordinary share, representing an increase of 3.21% to the 45.26 pence 'rebased' dividend per share for 2023/24. This is in line with the increase in average UK CPIH inflation for the year ended 31 March 2025 as set out in dividend policy.Reported Earnings • May 15Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: UK£0.60 (in line with FY 2024). Revenue: UK£18.4b (down 7.4% from FY 2024). Net income: UK£2.83b (up 28% from FY 2024). Profit margin: 15% (up from 11% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.お知らせ • May 15National Grid plc to Report First Half, 2026 Results on Nov 06, 2025National Grid plc announced that they will report first half, 2026 results on Nov 06, 2025お知らせ • May 01National Grid plc Announces Chief Executive Succession PlanNational Grid plc announced the appointment of Zoë Yujnovich as its next Chief Executive. She will succeed John Pettigrew who, after almost 10 years in post, has decided to retire from his role effective 16 November 2025. Following a comprehensive succession planning process both the Board and John believe it is the right time to transition leadership at National Grid. Zoë's proven track record makes her ideally qualified to guide National Grid into its next phase of growth. Zoë will join from Shell plc where she was, until recently, Integrated Gas and Upstream Director and a member of the Executive Committee. Prior to Shell, Zoë held a number of progressively senior roles at Rio Tinto, including President and Chief Executive of the Iron Ore company of Canada. She has recently joined the board of Unilever plc as a Non-Executive Director. Zoë will join the National Grid Board as Chief Executive Designate on 1 September 2025 and will be appointed Chief Executive on 17 November 2025. John will retire from the Board of Directors and his role as Chief Executive on 16 November 2025, enabling a seamless transition and orderly handover of responsibilities. John joined National Grid as a graduate in 1991. During his time at the company he has held a variety of senior roles, including UK Director of Engineering, Chief Operating Officer and Executive Vice President for the US Electricity Distribution & Generation business, Chief Operating Officer for UK Gas Distribution, and UK Chief Operating Officer, joining the National Grid Board as Executive Director, UK in 2014. He became Group Chief Executive in 2016. Zoë Yujnovich is an international business leader recognised for her prominent roles in the energy sector and delivering performance transformation. Zoë began her career with Rio Tinto, holding senior management positions across diverse international markets including Australia, USA, UK, Brazil and Canada. Her significant experience managing cross-cultural teams and driving consistent outperformance through better workforce engagement at Rio Tinto positioned her as a respected figure in international business. In 2014, Zoë joined Shell plc, initially as Executive Vice President in Canada, where she successfully led major infrastructure projects critical to the company's strategy and operational delivery. Subsequently, as Shell's Country Chair and Executive Vice President for Australia and New Zealand, she led the local operational and cultural integration of BG, a USD 70 billion acquisition. Zoë's strategic capabilities were further recognized by her appointment as Shell's Executive Vice President of Conventional Oil and Gas, based in The Hague, where she managed global operations. In October 2021, Zoë was elevated to Shell's Executive Committee, based in London, as Director of Integrated Gas and Upstream, further underscoring her key role in navigating complex global energy challenges. Zoë also serves as an Independent Non-Executive Director at Unilever PLC. John Pettigrew will remain as Chief Executive until 16 November 2025, but will continue to be available to the Group through to the end of his 12 month notice period, which expires on 30 April 2026. His departure will be treated in accordance with the Directors' Remuneration Policy and his service contract.お知らせ • Apr 10National Grid plc to Report Fiscal Year 2025 Results on May 15, 2025National Grid plc announced that they will report fiscal year 2025 results on May 15, 2025Buy Or Sell Opportunity • Mar 06Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.0% to UK£9.20. The fair value is estimated to be UK£11.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.お知らせ • Feb 24Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners including Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire National Grid Renewables, LLC from National Grid plc (LSE:NG.) for an enterprise value of $1.7 billion.Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners including Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire National Grid Renewables, LLC from National Grid plc (LSE:NG.) for an enterprise value of $1.7 billion on February 24, 2025. Under the terms of the transaction imply an enterprise value for National Grid Renewables of $1.735 billion. The final cash consideration will be subject to customary completion adjustments. Completion of the transaction will be subject to certain consents and regulatory approvals. Subject to these clearances, National Grid expects that the transaction will complete in the first half of the financial year ending 31 March 2026.Buy Or Sell Opportunity • Feb 06Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at UK£9.77. The fair value is estimated to be UK£12.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 131% Paying a dividend despite having no free cash flows. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Large one-off items impacting financial results.Buy Or Sell Opportunity • Nov 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.9% to UK£9.85. The fair value is estimated to be UK£12.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.お知らせ • Nov 20National Grid Appoints Steve Smith as Chief Strategy and Regulation OfficerNational Grid announced that Steve Smith has been appointed as the company's Chief Strategy and Regulation Officer. As National Grid works to progress the energy transition at speed, Steve will lead the company's work on future strategy and regulation across the US and UK. Steve will sit on National Grid's executive committee. Steve has been leading this work on an interim basis since August 2024, following Ben Wilson's move to lead National Grid Ventures. His appointment is effective immediately. Steve Smith joined National Grid in October 2021 and previously held the roles of Group Head of Strategy and President of National Grid Partners. Before joining National Grid, he spent 11 years at Lloyds Banking Group and was a member of the Retail Executive Committee. Prior to this, he was a Board member and Managing Director at Ofgem. His early career included roles at American Electric Power and PricewaterhouseCoopers (PwC). With more than 25 years of experience in the energy and finance sectors, Steve's career spans venture capital, fintech, innovation and competition, government and policy, markets, regulatory reform and regulatory strategy.新しいナラティブ • Nov 10Calculated Investments And Infrastructure Growth Set To Bolster Earnings And Unlock Value National Grid plans massive network investments to drive asset growth, boost future revenues, and stabilize earnings. Declared Dividend • Nov 10First half dividend of UK£0.16 announcedShareholders will receive a dividend of UK£0.16. Ex-date: 21st November 2024 Payment date: 14th January 2025 Dividend yield will be 5.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (131% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 46% to bring the payout ratio under control. EPS is expected to grow by 43% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • Nov 08First half 2025 earnings released: EPS: UK£0.13 (vs UK£0.29 in 1H 2024)First half 2025 results: EPS: UK£0.13 (down from UK£0.29 in 1H 2024). Revenue: UK£7.96b (down 6.2% from 1H 2024). Net income: UK£571.0m (down 46% from 1H 2024). Profit margin: 7.2% (down from 13% in 1H 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.Buy Or Sell Opportunity • Oct 30Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at UK£9.88. The fair value is estimated to be UK£12.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.Buy Or Sell Opportunity • Oct 07Now 20% undervaluedOver the last 90 days, the stock has risen 6.7% to UK£9.92. The fair value is estimated to be UK£12.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.Recent Insider Transactions • Oct 06CEO & Executive Director recently sold UK£2.3m worth of stockOn the 1st of October, John Pettigrew sold around 220k shares on-market at roughly UK£10.39 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by UK£4.0m.お知らせ • Oct 03National Grid plc Provides Earnings Guidance for the Six Months Ended September 30, 2024National Grid plc provided earnings guidance for the six months ended September 30, 2024. Overall, the group's performance is in line with expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year. Contribution to operating profit is expected to be consistent with historical periods: In UK Electricity Transmission and UK Electricity Distribution, the company anticipates operating profit to be broadly evenly split across the year. The company expects an additional £70 million contribution from the Electricity System Operator compared to guidance, reflecting ownership and held for sale accounting treatment up to 30 September 2024. In US regulated businesses, operating profits are expected to be weighted to the second half. This includes New York business where operating profit weighting is expected to be more typical of historical trends than the same period last year (first half of fiscal year 2024 was impacted by an environmental provision charge). In NG Ventures the company anticipates a roughly 40:60 weighting for operating profit between the first and second half.お知らせ • Sep 26A consortium of investors led by Macquarie Asset Management completed the acquisition of the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.).A consortium of investors led by Macquarie Asset Management exercised its option to acquire the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.) on July 26, 2024. Following completion of this transaction, a consortium led by Macquarie Asset Management will own 100 per cent of National Gas. The acquisition of National Grid’s remaining 20 per cent interest in National Gas has been agreed on equivalent financial terms, following certain adjustments. The Remaining Interest is on equivalent financial terms to the original transaction. Completion of the Remaining Interest is expected by the first quarter of calendar year 2025, subject to the satisfaction of customary closing conditions and regulatory approvals. Tim Sheddick, Tom Pound, Marc Israel, Katie Hicks, Martin Forbes, Elizaveta Bazarova, Anthony Colegrove, Nicholas Greenacre, Lindsay Canning and Will Smith of White & Case acted as legal advisor to Macquarie Asset Management. A consortium of investors led by Macquarie Asset Management completed the acquisition of the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.) on September 26, 2024.お知らせ • Aug 02National Grid Announces Executive ChangesNational Grid announced that Sally Librera will join National Grid as President of its New York business, and sit on the Group Executive Committee, further strengthening National Grid's leadership team and reinforcing its credentials as a leader in the energy transition. Sally will report to National Grid plc CEO John Pettigrew. She joins the company in September. Sally joins from AECOM, where she is currently Senior Vice President and Transit Market Sector Leader for the company's Americas region, focused on the design and delivery of complex infrastructure projects and public private partnerships. She joined AECOM in January 2022 from HNTB where she led the NY/NJ Rail Infrastructure Practice. Sally is also the former Senior Vice President for Subways at MTA New York City Transit, where she led North America's largest urban rail transit operation, overseeing a team of 30,000 employees and safely delivering service for 5.6 million daily riders while improving system performance and modernizing key infrastructure. Sally will succeed Rudy Wynter, who is leaving National Grid after 36 years of service. Rudy led the Company through an unprecedented level of growth and delivered historically strong performance for the New York Business Unit during his tenure.Recent Insider Transactions • Jul 10CEO & Executive Director recently sold UK£1.8m worth of stockOn the 2nd of July, John Pettigrew sold around 197k shares on-market at roughly UK£8.92 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.お知らせ • Jun 29National Grid Appoints Julian Baddeley as Group Company Secretary, with Effect from 1 July 2024National Grid announced that Julian Baddeley has been appointed as Group Company Secretary, with effect from 1 July 2024. Justine Campbell, National Grid's current Group General Counsel and Company Secretary will remain a member of the Group Executive Committee and will assume the role of Group Chief Legal Officer. Julian is a Chartered Company Secretary and corporate lawyer and joins from abrdn plc, where he was Group Company Secretary.New Risk • Jun 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 31% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (31% increase in shares outstanding).お知らせ • Jun 08+ 3 more updatesNational Grid plc(LSE:NGPN) dropped from FTSE 100 IndexNational Grid plc(LSE:NGPN) dropped from FTSE 100 IndexValuation Update With 7 Day Price Move • May 30Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to UK£8.38, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Integrated Utilities industry in Europe. Total returns to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£12.58 per share.Major Estimate Revision • May 30Consensus EPS estimates fall by 10%, revenue upgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£21.3b to UK£21.8b. EPS estimate fell from UK£0.772 to UK£0.693 per share. Net income forecast to grow 35% next year vs 12% growth forecast for Integrated Utilities industry in the United Kingdom. Consensus price target down from UK£12.00 to UK£11.47. Share price fell 26% to UK£8.38 over the past week.Declared Dividend • May 26Final dividend increased to UK£0.39Dividend of UK£0.39 is 4.0% higher than last year. Ex-date: 6th June 2024 Payment date: 19th July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 8.3% to bring the payout ratio under control. EPS is expected to grow by 26% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.お知らせ • May 25National Grid plc Recommends Final DividendThe Board of National Grid plc has recommended a final dividend of 39.12 pence, taking the full year dividend to 58.52 pence per share, representing a 5.55% increase compared to the prior year, reflecting 2024 average CPIH inflation. The outstanding ordinary shares trading will go ex dividend on the 6 June, with the 7 June being the record date for the final dividend.お知らせ • May 24National Grid plc has filed a Follow-on Equity Offering in the amount of £7.001146 billion.National Grid plc has filed a Follow-on Equity Offering in the amount of £7.001146 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 1,085,448,980 Price\Range: £6.45 Discount Per Security: £0.129 Transaction Features: Rights OfferingReported Earnings • May 24Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: UK£0.60 (down from UK£0.74 in FY 2023). Revenue: UK£19.9b (down 8.4% from FY 2023). Net income: UK£2.22b (down 18% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.New Risk • May 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results.お知らせ • May 24National Grid plc Provides Earnings Guidance for the 2023/24National Grid plc provided earnings guidance for the 2023/24. For the period, The company expects underlying EPS to be broadly in line with their underlying 2023/24 EPS once this has been adjusted by the number of bonus shares issued as part of the Rights Issue.お知らせ • Feb 13+ 2 more updatesNational Grid plc to Report Fiscal Year 2024 Results on May 23, 2024National Grid plc announced that they will report fiscal year 2024 results on May 23, 2024お知らせ • Dec 11National Grid plc Announces Board ChangesNational Grid announced that Jacqui Ferguson will be joining its Board as an independent Non-Executive Director with effect from 1 January 2024. Jacqui will be a member of the Audit & Risk Committee. Jacqui will bring a broad perspective to the Board through her wealth of knowledge in large-scale, growth-oriented technology environments across a number of continents, industries and business functions. She is currently Chair of Tesco Bank, Senior Independent Director and Chair of the Remuneration Committee of Croda International plc, Deputy Chair of Engineering UK(a charity focused on the engineering and technology skills agenda) and Chair of the Remuneration Committee and Non-Executive Director at John Wood Group PLC. National Grid further announced that Liz Hewitt will be stepping down from the Board on 31 January 2024. When Liz joined the Board, she undertook a singularly comprehensive immersion in Company, all done virtually. She used this background to make important changes to the Board's stewardship of controls and risk as Chair of the redefined Audit & Risk Committee". Jacqui is currently Chair of Tesco Bank, Senior Independent Directorand Chair of the Remuneration Committeeof Croda International plc, and Deputy Chair of Engineering UK, a charity focused on inspiring young people from all kinds of background into engineering careers. She is also currently Chair of the Remuneration Committee and Non-Executive Director at John Wood Group PLC but will be stepping down fromits Board post their AGM on 9 May 2024 and as Chair of its Remuneration Committee on 1 January 2024. From 1 January 2024, Jacqui will be joining the Board of Softcat plc as a Non-Executive Director. Previously, she held several significant executive roles at Hewlett Packard Enterprise, including SVP and MD.Prior to this, Jacqui held executive roles at Electronic Data Systems, including Director of EMEA Strategic Business Planning.お知らせ • Nov 30National Grid plc Approves Interim Dividend, Payable on 11 January 2024National Grid plc approved an interim dividend of 19.40 pence per ordinary share($1.1899 per American Depositary Share). The interim dividend is expected to be paid on 11 January 2024. Record date for the 2023/24 interim dividend is 24 November 2023.Buying Opportunity • Nov 23Now 20% undervaluedOver the last 90 days, the stock is up 2.7%. The fair value is estimated to be UK£12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings is also forecast to grow by 6.3% per annum over the same time period.Upcoming Dividend • Nov 16Upcoming dividend of UK£0.19 per share at 5.6% yieldEligible shareholders must have bought the stock before 23 November 2023. Payment date: 11 January 2024. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Lower than top quartile of British dividend payers (6.2%). In line with average of industry peers (5.7%).Reported Earnings • Nov 12First half 2024 earnings released: EPS: UK£0.29 (vs UK£0.33 in 1H 2023)First half 2024 results: EPS: UK£0.29 (down from UK£0.33 in 1H 2023). Revenue: UK£8.49b (down 10% from 1H 2023). Net income: UK£1.06b (down 13% from 1H 2023). Profit margin: 13% (in line with 1H 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.お知らせ • Oct 20National Grid Receives $50 Million Grant from the U.S. Department of EnergyNational Grid has been awarded a $50 million grant from the U.S. Department of Energy (DOE) for a project that will deploy digital technology to optimize the use of distributed energy resources (DERs) to improve electric system reliability and resilience. The project is ultimately expected to lead to greater development and adoption of decarbonized resources, such as solar and energy storage. The U.S.DOE announced the awards yesterday. National Grid's proposal, called the Future Grid Project, was chosen from among more than 100 proposals submitted by utilities, industry, academia, and state entities from across the country. This federal funding opportunity is part of the Infrastructure Investment and Jobs Act enacted in 2021 under the Grid Resilience and Innovative Partnerships (GRIP) Program. The total cost for the Future Grid project is about $140 million. The federal funds will supplement a $90 million investment by National Grid. The Future Grid Project will deploy digital technology solutions at locations specifically targeted to benefit disadvantaged communities in New York and Massachusetts to improve electric system reliability and resilience and bring more clean energy resources to those areas. The project is expected to maximize the value of DERs through advanced network management, resource orchestration, and control. The project will build upon foundational grid modernization investments currently being implemented in electric service territories in New York and Massachusetts, including advanced metering infrastructure, advanced distribution management systems, distributed energy resource management systems, and more. The Future Grid project is expected to expand training and pre-apprenticeship programs in partnership with several local community-serving institutes.お知らせ • Oct 14National Grid Announces Alisha Collins as Director, Community Impact & Engagement in New EnglandNational Grid announced that Alisha Collins has joined the company as its first Director of Community Impact & Engagement in New England. Collins will lead and expand National Grid's newly relaunched 'Grid for Good' program, a companywide corporate responsibility and social impact initiative supporting communities throughout Massachusetts. Through Grid for Good, Collins will manage strategy and execution of charitable giving and volunteerism efforts across departments that align with three responsibility and impact pillars -- workforce development and STEM education, economic opportunity and social justice, and environmental stewardship and sustainability -- and have a focus on historically underrepresented and overburdened communities. Collins brings with her extensive experience in corporate giving and development, having previously served as Vice President, Corporate Giving & Development at The Possible Zone. In this role, she successfully launched a corporate giving strategy, implemented a capital campaign, and collaborated with partners to secure funding for the program. Before her time at The Possible Zone, Collins held the position of Director, Corporate & Community Engagement at The Greater Boston Food Bank. There, she demonstrated her leadership by building and leading a team responsible for corporate outreach, events, and community engagement. She also excelled in securing multi-year large donor investments, maximizing the organization's resources. Collins has a strong background in community relations, having served as Manager, Community Relations at both Reebok International and Blue Cross Blue Shield of MA. Her expertise in engaging with various stakeholders has been instrumental in driving successful community-focused initiatives. Collins holds a bachelor's degree in communications from Stonehill College and a master's of science in marketing from Lasell University. She is actively involved in various advisory boards and committees, including the Women's Network Advisory Board at the Greater Boston Chamber of Commerce, the President's Advisory Council at Stonehill College, and the Board of Advisors with the West End House Boys & Girls Club. These positions reflect her commitment to making a positive impact in the community and supporting organizations that align with her values.お知らせ • Oct 06National Grid plc to Report First Half, 2024 Results on Nov 09, 2023National Grid plc announced that they will report first half, 2024 results on Nov 09, 2023株主還元NG.GB Integrated UtilitiesGB 市場7D4.0%2.0%1.5%1Y17.4%19.9%19.4%株主還元を見る業界別リターン: NG.過去 1 年間で19.9 % の収益を上げたUK Integrated Utilities業界を下回りました。リターン対市場: NG.は、過去 1 年間で19.4 % のリターンを上げたUK市場を下回りました。価格変動Is NG.'s price volatile compared to industry and market?NG. volatilityNG. Average Weekly Movement4.3%Integrated Utilities Industry Average Movement4.3%Market Average Movement5.7%10% most volatile stocks in GB Market12.0%10% least volatile stocks in GB Market3.1%安定した株価: NG. 、 UK市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: NG.の 週次ボラティリティ ( 4% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト199031,654Zoe Yujnovichwww.nationalgrid.comナショナル・グリッド plc は、電力とガスの送電と配電を行っている。英国送電事業、英国配電事業、ニューイングランド事業、ニューヨーク事業、ナショナル・グリッド・ベンチャー事業、その他事業を通じて事業を展開している。英国送電部門はイングランドとウェールズに送電網を提供している。英国配電部門は東部および西部ミッドランド、イングランド南西部、南ウェールズで配電サービスを提供している。ニューイングランド部門は、ニューイングランドで電力・ガスの供給・配給および高圧送電サービスを提供している。ニューヨーク部門は、ニューヨーク州で電力とガスの配給、送電サービスを提供している。ナショナル・グリッド・ベンチャー事業部門は、電力相互接続を通じた送電サービスと、グレイン島でのLNG輸入サービスを提供している。その他部門は、英国において商業用不動産の賃貸・販売および保険業務を行っている。同社は1990年に設立され、英国ロンドンに本社を置いている。もっと見るNational Grid plc 基礎のまとめNational Grid の収益と売上を時価総額と比較するとどうか。NG. 基礎統計学時価総額UK£63.74b収益（TTM）UK£3.24b売上高(TTM)UK£17.69b19.7xPER（株価収益率3.6xP/SレシオNG. は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計NG. 損益計算書（TTM）収益UK£17.69b売上原価UK£0売上総利益UK£17.69bその他の費用UK£14.45b収益UK£3.24b直近の収益報告Mar 31, 2026次回決算日Nov 05, 2026一株当たり利益（EPS）0.65グロス・マージン100.00%純利益率18.32%有利子負債／自己資本比率121.5%NG. の長期的なパフォーマンスは？過去の実績と比較を見る配当金3.8%現在の配当利回り74%配当性向NG. 配当は確実ですか？NG. 配当履歴とベンチマークを見るNG. 、いつまでに購入すれば配当金を受け取れますか？National Grid 配当日配当落ち日May 28 2026配当支払日Jul 23 2026配当落ちまでの日数2 days配当支払日までの日数58 daysNG. 配当は確実ですか？NG. 配当履歴とベンチマークを見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/25 12:07終値2026/05/22 00:00収益2026/03/31年間収益2026/03/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋National Grid plc 13 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。30 アナリスト機関Gary HovisArgus Research CompanyDominic NashBarclaysDominic NashBarclays27 その他のアナリストを表示
分析記事 • May 21We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising EarningsNational Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...
Declared Dividend • May 17Final dividend increased to UK£0.32Dividend of UK£0.32 is 4.1% higher than last year. Ex-date: 28th May 2026 Payment date: 23rd July 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
ライブニュース • May 16National Grid Targets Growth With £70 Billion Investment as Shares Face Near-Term PressureNational Grid set out a record £70b five-year investment plan focused on modernising and expanding electricity and gas infrastructure in the UK and US Northeast, including over £30b for UK transmission upgrades. The company reported underlying operating profit of about £5.4b, which management described as a 9–10% increase, alongside expectations for compound annual asset growth near 10% and underlying EPS growth in an 8–15% range through 2030/31. For the year to March 2026, National Grid reported capital investment of £11.6b, asset growth of 10.9%, underlying EPS growth of 8% and a 3.8% dividend increase, while the stock fell 5% and traded below short and medium-term moving averages. The combination of a very large, regulated capex program and stated growth targets for assets and EPS underlines how much of the investment story here hinges on execution and ongoing regulatory support on both sides of the Atlantic. Short-term technical pressure and consolidation signals sit against that longer-term investment plan, so you may want to weigh near-term share price volatility against the scale of the committed infrastructure spend and dividend profile.
お知らせ • May 15+ 1 more updateNational Grid plc Provides Earnings Guidance for 2026/27National Grid plc provided earnings guidance for 2026/27. For 2026/27, The company expects strong operational performance across the Group with underlying EPS expected to increase 13%-15% from the 2025/26 baseline reflecting higher allowed revenue as the company step up delivery from RIIO-T2 to RIIO-T3.
Reported Earnings • May 14Full year 2026 earnings: EPS and revenues miss analyst expectationsFull year 2026 results: EPS: UK£0.66 (up from UK£0.60 in FY 2025). Revenue: UK£17.7b (down 3.8% from FY 2025). Net income: UK£3.24b (up 15% from FY 2025). Profit margin: 18% (up from 15% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
ナラティブの更新 • Apr 22NG.: Grid AI Collaboration And Margin Discipline Will Shape Earnings ResilienceAnalysts have nudged their fair value estimate for National Grid to £13.78, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a marginally richer future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated fair value estimate of £13.78 as support for National Grid's role as a regulated utility with relatively visible earnings, which can help anchor valuation assumptions.
分析記事 • May 21We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising EarningsNational Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...
Declared Dividend • May 17Final dividend increased to UK£0.32Dividend of UK£0.32 is 4.1% higher than last year. Ex-date: 28th May 2026 Payment date: 23rd July 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
ライブニュース • May 16National Grid Targets Growth With £70 Billion Investment as Shares Face Near-Term PressureNational Grid set out a record £70b five-year investment plan focused on modernising and expanding electricity and gas infrastructure in the UK and US Northeast, including over £30b for UK transmission upgrades. The company reported underlying operating profit of about £5.4b, which management described as a 9–10% increase, alongside expectations for compound annual asset growth near 10% and underlying EPS growth in an 8–15% range through 2030/31. For the year to March 2026, National Grid reported capital investment of £11.6b, asset growth of 10.9%, underlying EPS growth of 8% and a 3.8% dividend increase, while the stock fell 5% and traded below short and medium-term moving averages. The combination of a very large, regulated capex program and stated growth targets for assets and EPS underlines how much of the investment story here hinges on execution and ongoing regulatory support on both sides of the Atlantic. Short-term technical pressure and consolidation signals sit against that longer-term investment plan, so you may want to weigh near-term share price volatility against the scale of the committed infrastructure spend and dividend profile.
お知らせ • May 15+ 1 more updateNational Grid plc Provides Earnings Guidance for 2026/27National Grid plc provided earnings guidance for 2026/27. For 2026/27, The company expects strong operational performance across the Group with underlying EPS expected to increase 13%-15% from the 2025/26 baseline reflecting higher allowed revenue as the company step up delivery from RIIO-T2 to RIIO-T3.
Reported Earnings • May 14Full year 2026 earnings: EPS and revenues miss analyst expectationsFull year 2026 results: EPS: UK£0.66 (up from UK£0.60 in FY 2025). Revenue: UK£17.7b (down 3.8% from FY 2025). Net income: UK£3.24b (up 15% from FY 2025). Profit margin: 18% (up from 15% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
ナラティブの更新 • Apr 22NG.: Grid AI Collaboration And Margin Discipline Will Shape Earnings ResilienceAnalysts have nudged their fair value estimate for National Grid to £13.78, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a marginally richer future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated fair value estimate of £13.78 as support for National Grid's role as a regulated utility with relatively visible earnings, which can help anchor valuation assumptions.
ナラティブの更新 • Apr 08NG.: Grid Optimization And Execution Discipline Will Shape Earnings Resilience And Future P/EAnalysts have raised their price target on National Grid to £13.63 from £13.53, citing slightly higher assumptions for revenue growth, profit margin and future P/E as the main drivers of the change. Analyst Commentary Analysts are updating their views on National Grid in light of the revised price target, with attention on how the company can support its valuation through consistent execution and disciplined capital allocation.
ナラティブの更新 • Mar 24NG.: Execution On Regulated Projects Will Shape Future Earnings Resilience And P/E FrameworkAnalysts have lifted their price target for National Grid to £13.53 from £13.14, citing slightly higher assumptions for revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target of £13.53 as better aligned with their updated assumptions for revenue and margin potential, which they view as more supportive of the current P/E framework.
ナラティブの更新 • Mar 10NG.: Margin Resilience And P/E Expectations Will Shape Predictable Future ReturnsAnalysts have nudged their National Grid fair value estimate higher from £12.47 to £13.14, pointing to slightly firmer profit margin expectations and a modestly higher future P/E multiple, even as revenue growth assumptions are trimmed. Analyst Commentary Bullish Takeaways Bullish analysts view the uplift in fair value to £13.14 as consistent with a business that can sustain firmer profit margins over time, which they see as supportive of the overall earnings quality story.
ナラティブの更新 • Feb 24NG.: Earnings Quality And Regulation Will Shape Predictable Future ReturnsAnalysts have adjusted their price target on National Grid to £12.47, reflecting updated views on revenue growth, profit margins and future P/E assumptions, while keeping key valuation inputs broadly unchanged. Analyst Commentary Bullish Takeaways Bullish analysts view the reaffirmed assumptions on revenue and profit margins as supportive of the revised £12.47 target and suggest the current P/E framework is still seen as appropriate for National Grid's earnings profile.
ナラティブの更新 • Feb 10NG.: Dividend Outlook And Regulation Will Shape Steady Future ReturnsAnalysts have slightly raised their price target on National Grid, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that together point to a modestly higher implied equity value. Analyst Commentary Bullish Takeaways Bullish analysts see the updated assumptions on fair value and discount rate as broadly consistent with a regulated utility earning a steady return, which they view as supportive of the slightly higher price target.
分析記事 • Feb 04Estimating The Intrinsic Value Of National Grid plc (LON:NG.)Key Insights Using the Dividend Discount Model, National Grid fair value estimate is UK£12.16 National Grid's UK£12.56...
ナラティブの更新 • Jan 26NG.: Dividend Outlook And Regulation Will Shape Steady Long Term ReturnsNarrative Update Overview Analysts have modestly raised their fair value estimate for National Grid to £12.31 from £12.08, citing updated assumptions for future revenue growth, profit margins and P/E. These updates still use an unchanged 7.07% discount rate.
分析記事 • Jan 20Is National Grid (LON:NG.) A Risky Investment?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
ナラティブの更新 • Jan 12NG.: Dividend Reliability And Regulatory Outcomes Will Guide Balanced Return PotentialNarrative Update The analyst price target for National Grid has been revised slightly higher to about $12.08 from $11.96, as analysts factor in a modestly higher fair value estimate and a small adjustment to future P/E assumptions, while keeping their core growth and margin expectations effectively unchanged. Analyst Commentary Recent research on National Grid focuses on fine tuning valuation inputs rather than changing the core business view.
分析記事 • Jan 05Investors Appear Satisfied With National Grid plc's (LON:NG.) ProspectsNational Grid plc's ( LON:NG. ) price-to-earnings (or "P/E") ratio of 20x might make it look like a sell right now...
ナラティブの更新 • Dec 18NG.: Dividend Outlook And Regulatory Outcomes Will Shape Returns AheadAnalysts have modestly raised their price target on National Grid, reflecting a slightly higher fair value estimate of approximately $11.96 as they factor in stronger anticipated revenue growth, partially offset by a small compression in forecast profit margins and future valuation multiples. Analyst Commentary Bullish analysts view the modestly higher price target as a reflection of improving growth visibility for National Grid, particularly as regulated asset base expansion and inflation-linked mechanisms support more resilient top line progression.
お知らせ • Nov 28Centrica plc (LSE:CNA) and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.)Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.) for an enterprise value of £1.5 billion on August 14, 2025. A cash consideration will be paid by Centrica plc and Energy Capital Partners, LLC. The purchase of Grain LNG is for an enterprise value of £1.5 billion. Centrica's 50% share of the equity investment of approximately £200 million will be funded from it's existing cash resources. Centrica plc and Energy Capital Partners has also secured approximately £1.1 billion of committed financing, which will be drawn at closing, to fund a portion of the enterprise value. The transaction is conditional upon certain regulatory approvals being received, including approval under the National Security and Investment Act and certain mandatory anti-trust approvals. The completion of the transaction is expected to occur in Q4 this calendar year. Brian O'Keeffe, Conor Hennebry and Martin Weltman Banco Santander, S.A., London Branch acted as financial advisor for Centrica plc and Energy Capital Partners, LLC. Slaughter and May acted as legal advisor for Centrica plc. Latham & Watkins LLP acted as legal advisor for Centrica plc and Energy Capital Partners, LLC. Morgan Stanley acted as financial advisor to National Grid plc. Charles Steward, Caroline Rae, Reza Dadbakhsh, Silke Goldberg, David Coulling, Veronica Roberts, Howard Murray and Tim Leaver of Herbert Smith Freehills LLP acted as legal advisor to National Grid plc (LSE:NG.) Centrica plc (LSE:CNA) and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.) on November 28, 2025.
ナラティブの更新 • Nov 18NG.: Revenue Expectations And Margin Pressures Will Shape Performance AheadNarrative Update: National Grid Analyst Price Target Increased Analysts have raised their price target for National Grid to $11.93, up from $11.78. They cite improved expectations for revenue growth despite a slightly higher discount rate and modestly lower profit margins.
分析記事 • Nov 09National Grid (LON:NG.) Will Pay A Dividend Of £0.1635The board of National Grid plc ( LON:NG. ) has announced that it will pay a dividend on the 13th of January, with...
Declared Dividend • Nov 09First half dividend increased to UK£0.16Dividend of UK£0.16 is 3.2% higher than last year. Ex-date: 20th November 2025 Payment date: 13th January 2026 Dividend yield will be 4.0%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (81% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 39% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Nov 07First half 2026 earnings: EPS and revenues miss analyst expectationsFirst half 2026 results: EPS: UK£0.13. Revenue: UK£7.07b (down 11% from 1H 2025). Net income: UK£617.0m (up 8.1% from 1H 2025). Profit margin: 8.7% (up from 7.2% in 1H 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 15%. Earnings per share (EPS) also missed analyst estimates by 55%. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Integrated Utilities industry in Europe.
お知らせ • Nov 07National Grid plc Proposes Interim Dividend for the Year Ending 31 March 2026, Payable on 13 January 2026National Grid plc announced the Directors proposed an interim dividend of 16.35 pence per ordinary share ($1.0657 per American Depositary Share) in respect of the year ending 31 March 2026. The interim dividend is expected to be paid on 13 January 2026 to shareholders on the register as at 21 November 2025. Ex-dividend date for 2025-2026 interim dividend - ordinary shares was 20 November 2025. Ex-dividend date for 2025-2026 interim dividend – ADRs was 21 November 2025.
お知らせ • Nov 06+ 1 more updateNational Grid plc to Report Fiscal Year 2026 Results on May 14, 2026National Grid plc announced that they will report fiscal year 2026 results on May 14, 2026
お知らせ • Oct 02National Grid plc Provides Earnings Guidance for the Six Months Ended 30 September 2025National Grid plc provided earnings guidance for the six months ended 30 September 2025. For the period, the group's performance is in line with expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year. In UK Electricity Transmission and UK Electricity Distribution, company anticipate operating profit to be broadly evenly split across the year. In US regulated businesses, operating profits are expected to be weighted to the second half. Relative to the same period last year there have been fewer storms in New York business, as well as new electricity distribution rates in New England business. As such, company expect a slightly higher contribution to operating profit from both businesses in the first half relative to the profile last year. In National Grid Ventures company expect a roughly even weighting of profitability across the year.
分析記事 • Sep 01National Grid plc's (LON:NG.) Share Price Not Quite Adding UpWith a price-to-earnings (or "P/E") ratio of 18.3x National Grid plc ( LON:NG. ) may be sending bearish signals at the...
お知らせ • Aug 14Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.).Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.) on August 14, 2025. A cash consideration will be paid by Centrica plc and Energy Capital Partners, LLC. The purchase of Grain LNG is for an enterprise value of £1.5 billion. Centrica's 50% share of the equity investment of approximately £200 million will be funded from it's existing cash resources. Centrica plc and Energy Capital Partners has also secured approximately £1.1 billion of committed financing, which will be drawn at closing, to fund a portion of the enterprise value. The transaction is conditional upon certain regulatory approvals being received, including approval under the National Security and Investment Act and certain mandatory anti-trust approvals. The completion of the transaction is expected to occur in Q4 this calendar year. Brian O'Keeffe, Conor Hennebry and Martin Weltman Banco Santander, S.A., London Branch acted as financial advisor for Centrica plc and Energy Capital Partners, LLC. Slaughter and May acted as legal advisor for Centrica plc. Latham & Watkins LLP acted as legal advisor for Centrica plc and Energy Capital Partners, LLC. Morgan Stanley acted as financial advisor to National Grid plc.
分析記事 • Aug 02Estimating The Intrinsic Value Of National Grid plc (LON:NG.)Key Insights Using the Dividend Discount Model, National Grid fair value estimate is UK£12.05 National Grid's UK£10.80...
Board Change • Aug 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 9 experienced directors. 1 highly experienced director. Independent Non-Executive Director Jacqui Ferguson was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Buy Or Sell Opportunity • Jul 02Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.0% to UK£10.32. The fair value is estimated to be UK£12.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.
分析記事 • Jun 17Does National Grid (LON:NG.) Have A Healthy Balance Sheet?Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
お知らせ • May 30+ 1 more updateNational Grid plc, Annual General Meeting, Jul 09, 2025National Grid plc, Annual General Meeting, Jul 09, 2025. Location: the ramphal building, warwick conferences, the university of warwick, library road, cv4 7al., coventry United Kingdom
Declared Dividend • May 18Final dividend reduced to UK£0.31Dividend of UK£0.31 is 21% lower than last year. Ex-date: 29th May 2025 Payment date: 17th July 2025 Dividend yield will be 4.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • May 16+ 1 more updateNational Grid plc Recommends Final Dividend, Payable on July 17, 2025National Grid plc announced that the board has recommended a final dividend to 30.88 pence per ordinary share ($2.0545 per American Depository Share), which will be paid on 17 July 2025 to shareholders on the register of members as at 30 May 2025. If approved, this will bring the full-year dividend to 46.72 pence per ordinary share, representing an increase of 3.21% to the 45.26 pence 'rebased' dividend per share for 2023/24. This is in line with the increase in average UK CPIH inflation for the year ended 31 March 2025 as set out in dividend policy.
Reported Earnings • May 15Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: UK£0.60 (in line with FY 2024). Revenue: UK£18.4b (down 7.4% from FY 2024). Net income: UK£2.83b (up 28% from FY 2024). Profit margin: 15% (up from 11% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
お知らせ • May 15National Grid plc to Report First Half, 2026 Results on Nov 06, 2025National Grid plc announced that they will report first half, 2026 results on Nov 06, 2025
お知らせ • May 01National Grid plc Announces Chief Executive Succession PlanNational Grid plc announced the appointment of Zoë Yujnovich as its next Chief Executive. She will succeed John Pettigrew who, after almost 10 years in post, has decided to retire from his role effective 16 November 2025. Following a comprehensive succession planning process both the Board and John believe it is the right time to transition leadership at National Grid. Zoë's proven track record makes her ideally qualified to guide National Grid into its next phase of growth. Zoë will join from Shell plc where she was, until recently, Integrated Gas and Upstream Director and a member of the Executive Committee. Prior to Shell, Zoë held a number of progressively senior roles at Rio Tinto, including President and Chief Executive of the Iron Ore company of Canada. She has recently joined the board of Unilever plc as a Non-Executive Director. Zoë will join the National Grid Board as Chief Executive Designate on 1 September 2025 and will be appointed Chief Executive on 17 November 2025. John will retire from the Board of Directors and his role as Chief Executive on 16 November 2025, enabling a seamless transition and orderly handover of responsibilities. John joined National Grid as a graduate in 1991. During his time at the company he has held a variety of senior roles, including UK Director of Engineering, Chief Operating Officer and Executive Vice President for the US Electricity Distribution & Generation business, Chief Operating Officer for UK Gas Distribution, and UK Chief Operating Officer, joining the National Grid Board as Executive Director, UK in 2014. He became Group Chief Executive in 2016. Zoë Yujnovich is an international business leader recognised for her prominent roles in the energy sector and delivering performance transformation. Zoë began her career with Rio Tinto, holding senior management positions across diverse international markets including Australia, USA, UK, Brazil and Canada. Her significant experience managing cross-cultural teams and driving consistent outperformance through better workforce engagement at Rio Tinto positioned her as a respected figure in international business. In 2014, Zoë joined Shell plc, initially as Executive Vice President in Canada, where she successfully led major infrastructure projects critical to the company's strategy and operational delivery. Subsequently, as Shell's Country Chair and Executive Vice President for Australia and New Zealand, she led the local operational and cultural integration of BG, a USD 70 billion acquisition. Zoë's strategic capabilities were further recognized by her appointment as Shell's Executive Vice President of Conventional Oil and Gas, based in The Hague, where she managed global operations. In October 2021, Zoë was elevated to Shell's Executive Committee, based in London, as Director of Integrated Gas and Upstream, further underscoring her key role in navigating complex global energy challenges. Zoë also serves as an Independent Non-Executive Director at Unilever PLC. John Pettigrew will remain as Chief Executive until 16 November 2025, but will continue to be available to the Group through to the end of his 12 month notice period, which expires on 30 April 2026. His departure will be treated in accordance with the Directors' Remuneration Policy and his service contract.
お知らせ • Apr 10National Grid plc to Report Fiscal Year 2025 Results on May 15, 2025National Grid plc announced that they will report fiscal year 2025 results on May 15, 2025
Buy Or Sell Opportunity • Mar 06Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.0% to UK£9.20. The fair value is estimated to be UK£11.67, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.
お知らせ • Feb 24Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners including Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire National Grid Renewables, LLC from National Grid plc (LSE:NG.) for an enterprise value of $1.7 billion.Brookfield Asset Management Ltd. (TSX:BAM) and its institutional partners including Brookfield Renewable Partners L.P. (TSX:BEP.UN) agreed to acquire National Grid Renewables, LLC from National Grid plc (LSE:NG.) for an enterprise value of $1.7 billion on February 24, 2025. Under the terms of the transaction imply an enterprise value for National Grid Renewables of $1.735 billion. The final cash consideration will be subject to customary completion adjustments. Completion of the transaction will be subject to certain consents and regulatory approvals. Subject to these clearances, National Grid expects that the transaction will complete in the first half of the financial year ending 31 March 2026.
Buy Or Sell Opportunity • Feb 06Now 21% undervaluedThe stock has been flat over the last 90 days, currently trading at UK£9.77. The fair value is estimated to be UK£12.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 16% per annum over the same time period.
New Risk • Jan 16New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 131% Paying a dividend despite having no free cash flows. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risk Large one-off items impacting financial results.
Buy Or Sell Opportunity • Nov 26Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.9% to UK£9.85. The fair value is estimated to be UK£12.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are also forecast to grow by 15% per annum over the same time period.
お知らせ • Nov 20National Grid Appoints Steve Smith as Chief Strategy and Regulation OfficerNational Grid announced that Steve Smith has been appointed as the company's Chief Strategy and Regulation Officer. As National Grid works to progress the energy transition at speed, Steve will lead the company's work on future strategy and regulation across the US and UK. Steve will sit on National Grid's executive committee. Steve has been leading this work on an interim basis since August 2024, following Ben Wilson's move to lead National Grid Ventures. His appointment is effective immediately. Steve Smith joined National Grid in October 2021 and previously held the roles of Group Head of Strategy and President of National Grid Partners. Before joining National Grid, he spent 11 years at Lloyds Banking Group and was a member of the Retail Executive Committee. Prior to this, he was a Board member and Managing Director at Ofgem. His early career included roles at American Electric Power and PricewaterhouseCoopers (PwC). With more than 25 years of experience in the energy and finance sectors, Steve's career spans venture capital, fintech, innovation and competition, government and policy, markets, regulatory reform and regulatory strategy.
新しいナラティブ • Nov 10Calculated Investments And Infrastructure Growth Set To Bolster Earnings And Unlock Value National Grid plans massive network investments to drive asset growth, boost future revenues, and stabilize earnings.
Declared Dividend • Nov 10First half dividend of UK£0.16 announcedShareholders will receive a dividend of UK£0.16. Ex-date: 21st November 2024 Payment date: 14th January 2025 Dividend yield will be 5.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not covered by earnings (131% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 46% to bring the payout ratio under control. EPS is expected to grow by 43% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • Nov 08First half 2025 earnings released: EPS: UK£0.13 (vs UK£0.29 in 1H 2024)First half 2025 results: EPS: UK£0.13 (down from UK£0.29 in 1H 2024). Revenue: UK£7.96b (down 6.2% from 1H 2024). Net income: UK£571.0m (down 46% from 1H 2024). Profit margin: 7.2% (down from 13% in 1H 2024). Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat.
Buy Or Sell Opportunity • Oct 30Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at UK£9.88. The fair value is estimated to be UK£12.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.8% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.
Buy Or Sell Opportunity • Oct 07Now 20% undervaluedOver the last 90 days, the stock has risen 6.7% to UK£9.92. The fair value is estimated to be UK£12.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 12% per annum over the same time period.
Recent Insider Transactions • Oct 06CEO & Executive Director recently sold UK£2.3m worth of stockOn the 1st of October, John Pettigrew sold around 220k shares on-market at roughly UK£10.39 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. John has been a net seller over the last 12 months, reducing personal holdings by UK£4.0m.
お知らせ • Oct 03National Grid plc Provides Earnings Guidance for the Six Months Ended September 30, 2024National Grid plc provided earnings guidance for the six months ended September 30, 2024. Overall, the group's performance is in line with expectations and, as usual, underlying EPS is expected to be weighted to the second half of the year. Contribution to operating profit is expected to be consistent with historical periods: In UK Electricity Transmission and UK Electricity Distribution, the company anticipates operating profit to be broadly evenly split across the year. The company expects an additional £70 million contribution from the Electricity System Operator compared to guidance, reflecting ownership and held for sale accounting treatment up to 30 September 2024. In US regulated businesses, operating profits are expected to be weighted to the second half. This includes New York business where operating profit weighting is expected to be more typical of historical trends than the same period last year (first half of fiscal year 2024 was impacted by an environmental provision charge). In NG Ventures the company anticipates a roughly 40:60 weighting for operating profit between the first and second half.
お知らせ • Sep 26A consortium of investors led by Macquarie Asset Management completed the acquisition of the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.).A consortium of investors led by Macquarie Asset Management exercised its option to acquire the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.) on July 26, 2024. Following completion of this transaction, a consortium led by Macquarie Asset Management will own 100 per cent of National Gas. The acquisition of National Grid’s remaining 20 per cent interest in National Gas has been agreed on equivalent financial terms, following certain adjustments. The Remaining Interest is on equivalent financial terms to the original transaction. Completion of the Remaining Interest is expected by the first quarter of calendar year 2025, subject to the satisfaction of customary closing conditions and regulatory approvals. Tim Sheddick, Tom Pound, Marc Israel, Katie Hicks, Martin Forbes, Elizaveta Bazarova, Anthony Colegrove, Nicholas Greenacre, Lindsay Canning and Will Smith of White & Case acted as legal advisor to Macquarie Asset Management. A consortium of investors led by Macquarie Asset Management completed the acquisition of the remaining 20% equity interest in National Gas Transmission Plc from National Grid plc (LSE:NG.) on September 26, 2024.
お知らせ • Aug 02National Grid Announces Executive ChangesNational Grid announced that Sally Librera will join National Grid as President of its New York business, and sit on the Group Executive Committee, further strengthening National Grid's leadership team and reinforcing its credentials as a leader in the energy transition. Sally will report to National Grid plc CEO John Pettigrew. She joins the company in September. Sally joins from AECOM, where she is currently Senior Vice President and Transit Market Sector Leader for the company's Americas region, focused on the design and delivery of complex infrastructure projects and public private partnerships. She joined AECOM in January 2022 from HNTB where she led the NY/NJ Rail Infrastructure Practice. Sally is also the former Senior Vice President for Subways at MTA New York City Transit, where she led North America's largest urban rail transit operation, overseeing a team of 30,000 employees and safely delivering service for 5.6 million daily riders while improving system performance and modernizing key infrastructure. Sally will succeed Rudy Wynter, who is leaving National Grid after 36 years of service. Rudy led the Company through an unprecedented level of growth and delivered historically strong performance for the New York Business Unit during his tenure.
Recent Insider Transactions • Jul 10CEO & Executive Director recently sold UK£1.8m worth of stockOn the 2nd of July, John Pettigrew sold around 197k shares on-market at roughly UK£8.92 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was John's only on-market trade for the last 12 months.
お知らせ • Jun 29National Grid Appoints Julian Baddeley as Group Company Secretary, with Effect from 1 July 2024National Grid announced that Julian Baddeley has been appointed as Group Company Secretary, with effect from 1 July 2024. Justine Campbell, National Grid's current Group General Counsel and Company Secretary will remain a member of the Group Executive Committee and will assume the role of Group Chief Legal Officer. Julian is a Chartered Company Secretary and corporate lawyer and joins from abrdn plc, where he was Group Company Secretary.
New Risk • Jun 13New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 31% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (31% increase in shares outstanding).
お知らせ • Jun 08+ 3 more updatesNational Grid plc(LSE:NGPN) dropped from FTSE 100 IndexNational Grid plc(LSE:NGPN) dropped from FTSE 100 Index
Valuation Update With 7 Day Price Move • May 30Investor sentiment deteriorates as stock falls 26%After last week's 26% share price decline to UK£8.38, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 11x in the Integrated Utilities industry in Europe. Total returns to shareholders of 10% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£12.58 per share.
Major Estimate Revision • May 30Consensus EPS estimates fall by 10%, revenue upgradedThe consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from UK£21.3b to UK£21.8b. EPS estimate fell from UK£0.772 to UK£0.693 per share. Net income forecast to grow 35% next year vs 12% growth forecast for Integrated Utilities industry in the United Kingdom. Consensus price target down from UK£12.00 to UK£11.47. Share price fell 26% to UK£8.38 over the past week.
Declared Dividend • May 26Final dividend increased to UK£0.39Dividend of UK£0.39 is 4.0% higher than last year. Ex-date: 6th June 2024 Payment date: 19th July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is not adequately covered by earnings (97% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 2.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 8.3% to bring the payout ratio under control. EPS is expected to grow by 26% over the next 3 years, which is sufficient to bring the dividend into a sustainable range.
お知らせ • May 25National Grid plc Recommends Final DividendThe Board of National Grid plc has recommended a final dividend of 39.12 pence, taking the full year dividend to 58.52 pence per share, representing a 5.55% increase compared to the prior year, reflecting 2024 average CPIH inflation. The outstanding ordinary shares trading will go ex dividend on the 6 June, with the 7 June being the record date for the final dividend.
お知らせ • May 24National Grid plc has filed a Follow-on Equity Offering in the amount of £7.001146 billion.National Grid plc has filed a Follow-on Equity Offering in the amount of £7.001146 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 1,085,448,980 Price\Range: £6.45 Discount Per Security: £0.129 Transaction Features: Rights Offering
Reported Earnings • May 24Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: UK£0.60 (down from UK£0.74 in FY 2023). Revenue: UK£19.9b (down 8.4% from FY 2023). Net income: UK£2.22b (down 18% from FY 2023). Profit margin: 11% (down from 13% in FY 2023). Revenue missed analyst estimates by 7.9%. Earnings per share (EPS) also missed analyst estimates by 18%. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth.
New Risk • May 24New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 25% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results.
お知らせ • May 24National Grid plc Provides Earnings Guidance for the 2023/24National Grid plc provided earnings guidance for the 2023/24. For the period, The company expects underlying EPS to be broadly in line with their underlying 2023/24 EPS once this has been adjusted by the number of bonus shares issued as part of the Rights Issue.
お知らせ • Feb 13+ 2 more updatesNational Grid plc to Report Fiscal Year 2024 Results on May 23, 2024National Grid plc announced that they will report fiscal year 2024 results on May 23, 2024
お知らせ • Dec 11National Grid plc Announces Board ChangesNational Grid announced that Jacqui Ferguson will be joining its Board as an independent Non-Executive Director with effect from 1 January 2024. Jacqui will be a member of the Audit & Risk Committee. Jacqui will bring a broad perspective to the Board through her wealth of knowledge in large-scale, growth-oriented technology environments across a number of continents, industries and business functions. She is currently Chair of Tesco Bank, Senior Independent Director and Chair of the Remuneration Committee of Croda International plc, Deputy Chair of Engineering UK(a charity focused on the engineering and technology skills agenda) and Chair of the Remuneration Committee and Non-Executive Director at John Wood Group PLC. National Grid further announced that Liz Hewitt will be stepping down from the Board on 31 January 2024. When Liz joined the Board, she undertook a singularly comprehensive immersion in Company, all done virtually. She used this background to make important changes to the Board's stewardship of controls and risk as Chair of the redefined Audit & Risk Committee". Jacqui is currently Chair of Tesco Bank, Senior Independent Directorand Chair of the Remuneration Committeeof Croda International plc, and Deputy Chair of Engineering UK, a charity focused on inspiring young people from all kinds of background into engineering careers. She is also currently Chair of the Remuneration Committee and Non-Executive Director at John Wood Group PLC but will be stepping down fromits Board post their AGM on 9 May 2024 and as Chair of its Remuneration Committee on 1 January 2024. From 1 January 2024, Jacqui will be joining the Board of Softcat plc as a Non-Executive Director. Previously, she held several significant executive roles at Hewlett Packard Enterprise, including SVP and MD.Prior to this, Jacqui held executive roles at Electronic Data Systems, including Director of EMEA Strategic Business Planning.
お知らせ • Nov 30National Grid plc Approves Interim Dividend, Payable on 11 January 2024National Grid plc approved an interim dividend of 19.40 pence per ordinary share($1.1899 per American Depositary Share). The interim dividend is expected to be paid on 11 January 2024. Record date for the 2023/24 interim dividend is 24 November 2023.
Buying Opportunity • Nov 23Now 20% undervaluedOver the last 90 days, the stock is up 2.7%. The fair value is estimated to be UK£12.63, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 31%. For the next 3 years, revenue is forecast to grow by 5.6% per annum. Earnings is also forecast to grow by 6.3% per annum over the same time period.
Upcoming Dividend • Nov 16Upcoming dividend of UK£0.19 per share at 5.6% yieldEligible shareholders must have bought the stock before 23 November 2023. Payment date: 11 January 2024. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Lower than top quartile of British dividend payers (6.2%). In line with average of industry peers (5.7%).
Reported Earnings • Nov 12First half 2024 earnings released: EPS: UK£0.29 (vs UK£0.33 in 1H 2023)First half 2024 results: EPS: UK£0.29 (down from UK£0.33 in 1H 2023). Revenue: UK£8.49b (down 10% from 1H 2023). Net income: UK£1.06b (down 13% from 1H 2023). Profit margin: 13% (in line with 1H 2023). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
お知らせ • Oct 20National Grid Receives $50 Million Grant from the U.S. Department of EnergyNational Grid has been awarded a $50 million grant from the U.S. Department of Energy (DOE) for a project that will deploy digital technology to optimize the use of distributed energy resources (DERs) to improve electric system reliability and resilience. The project is ultimately expected to lead to greater development and adoption of decarbonized resources, such as solar and energy storage. The U.S.DOE announced the awards yesterday. National Grid's proposal, called the Future Grid Project, was chosen from among more than 100 proposals submitted by utilities, industry, academia, and state entities from across the country. This federal funding opportunity is part of the Infrastructure Investment and Jobs Act enacted in 2021 under the Grid Resilience and Innovative Partnerships (GRIP) Program. The total cost for the Future Grid project is about $140 million. The federal funds will supplement a $90 million investment by National Grid. The Future Grid Project will deploy digital technology solutions at locations specifically targeted to benefit disadvantaged communities in New York and Massachusetts to improve electric system reliability and resilience and bring more clean energy resources to those areas. The project is expected to maximize the value of DERs through advanced network management, resource orchestration, and control. The project will build upon foundational grid modernization investments currently being implemented in electric service territories in New York and Massachusetts, including advanced metering infrastructure, advanced distribution management systems, distributed energy resource management systems, and more. The Future Grid project is expected to expand training and pre-apprenticeship programs in partnership with several local community-serving institutes.
お知らせ • Oct 14National Grid Announces Alisha Collins as Director, Community Impact & Engagement in New EnglandNational Grid announced that Alisha Collins has joined the company as its first Director of Community Impact & Engagement in New England. Collins will lead and expand National Grid's newly relaunched 'Grid for Good' program, a companywide corporate responsibility and social impact initiative supporting communities throughout Massachusetts. Through Grid for Good, Collins will manage strategy and execution of charitable giving and volunteerism efforts across departments that align with three responsibility and impact pillars -- workforce development and STEM education, economic opportunity and social justice, and environmental stewardship and sustainability -- and have a focus on historically underrepresented and overburdened communities. Collins brings with her extensive experience in corporate giving and development, having previously served as Vice President, Corporate Giving & Development at The Possible Zone. In this role, she successfully launched a corporate giving strategy, implemented a capital campaign, and collaborated with partners to secure funding for the program. Before her time at The Possible Zone, Collins held the position of Director, Corporate & Community Engagement at The Greater Boston Food Bank. There, she demonstrated her leadership by building and leading a team responsible for corporate outreach, events, and community engagement. She also excelled in securing multi-year large donor investments, maximizing the organization's resources. Collins has a strong background in community relations, having served as Manager, Community Relations at both Reebok International and Blue Cross Blue Shield of MA. Her expertise in engaging with various stakeholders has been instrumental in driving successful community-focused initiatives. Collins holds a bachelor's degree in communications from Stonehill College and a master's of science in marketing from Lasell University. She is actively involved in various advisory boards and committees, including the Women's Network Advisory Board at the Greater Boston Chamber of Commerce, the President's Advisory Council at Stonehill College, and the Board of Advisors with the West End House Boys & Girls Club. These positions reflect her commitment to making a positive impact in the community and supporting organizations that align with her values.
お知らせ • Oct 06National Grid plc to Report First Half, 2024 Results on Nov 09, 2023National Grid plc announced that they will report first half, 2024 results on Nov 09, 2023
