National Grid (NG.) 주식 개요내셔널 그리드는 전기와 가스의 송전 및 배전 사업을 하는 회사입니다. 자세히 보기NG. 펀더멘털 분석스노우플레이크 점수가치 평가2/6미래 성장2/6과거 실적5/6재무 건전성2/6배당3/6강점수익은 매년 11.02% 증가할 것으로 예상됩니다.지난 1년간 수익이 14.7% 증가했습니다.위험 분석부채는 operating cash flow로 충분히 감당되지 않습니다.3.79% 의 배당금은 잉여현금흐름으로 잘 충당되지 않습니다.모든 위험 점검 보기NG. 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% 저평가 내재 할인율11.81%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 경쟁사Telecom PlusSymbol: LSE:TEPMarket cap: UK£852.6mSSESymbol: LSE:SSEMarket cap: UK£29.3bEngieSymbol: ENXTPA:ENGIMarket cap: €66.1bSempraSymbol: NYSE:SREMarket cap: US$60.7b가격 이력 및 성과National Grid 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가UK£12.8152주 최고가UK£14.2952주 최저가UK£10.00베타0.621개월 변동-1.08%3개월 변동-5.77%1년 변동17.42%3년 변동17.58%5년 변동36.39%IPO 이후 변동337.74%최근 뉴스 및 업데이트분석 기사 • 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.속보 • 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.공시 • 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.내러티브 업데이트 • 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.더 많은 업데이트 보기Recent updates분석 기사 • 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.속보 • 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.공시 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.내러티브 업데이트 • 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.분석 기사 • 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...내러티브 업데이트 • 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.분석 기사 • 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...내러티브 업데이트 • 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.분석 기사 • 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...내러티브 업데이트 • 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.공시 • 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.내러티브 업데이트 • 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.분석 기사 • 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.공시 • 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.공시 • 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, 2026공시 • 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.분석 기사 • 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...공시 • 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.분석 기사 • 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.분석 기사 • 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...공시 • 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.공시 • 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.공시 • 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, 2025공시 • 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.공시 • 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.공시 • 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.공시 • 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.새로운 내러티브 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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).공시 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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, 2024공시 • 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.공시 • 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.공시 • 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.공시 • 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.공시 • 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, 2023주주 수익률NG.GB Integrated UtilitiesGB 시장7D7.8%3.9%2.5%1Y17.4%20.4%19.4%전체 주주 수익률 보기수익률 대 산업: NG.은 지난 1년 동안 20.4%의 수익을 기록한 UK Integrated Utilities 산업보다 저조한 성과를 냈습니다.수익률 대 시장: NG.은 지난 1년 동안 19.4%를 기록한 UK 시장보다 저조한 성과를 냈습니다.주가 변동성Is NG.'s price volatile compared to industry and market?NG. volatilityNG. Average Weekly Movement4.2%Integrated Utilities Industry Average Movement4.2%Market Average Movement5.7%10% most volatile stocks in GB Market12.0%10% least volatile stocks in GB Market3.0%안정적인 주가: NG.는 지난 3개월 동안 UK 시장에 비해 주가 변동성이 크지 않았습니다.시간에 따른 변동성: NG.의 주간 변동성(4%)은 지난 1년 동안 안정적이었습니다.회사 소개설립직원 수CEO웹사이트199031,654Zoe Yujnovichwww.nationalgrid.com내셔널 그리드는 전기와 가스의 송전 및 배전 사업을 하고 있습니다. 영국 전기 송전, 영국 전기 배전, 뉴잉글랜드, 뉴욕, 내셔널 그리드 벤처 및 기타 부문을 통해 운영됩니다. 영국 전기 전송 부문은 잉글랜드와 웨일즈에서 전기 전송 네트워크를 제공합니다.더 보기National Grid plc 기초 지표 요약National Grid의 순이익과 매출은 시가총액과 어떻게 비교됩니까?NG. 기초 통계시가총액UK£63.74b순이익 (TTM)UK£3.24b매출 (TTM)UK£17.69b19.7x주가수익비율(P/E)3.6x주가매출비율(P/S)NG.는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표NG. 손익계산서 (TTM)매출UK£17.69b매출원가UK£0총이익UK£17.69b기타 비용UK£14.45b순이익UK£3.24b최근 보고된 실적Mar 31, 2026다음 실적 발표일Nov 05, 2026주당순이익(EPS)0.65총이익률100.00%순이익률18.32%부채/자본 비율121.5%NG.의 장기 실적은 어땠습니까?과거 실적 및 비교 보기배당3.8%현재 배당 수익률74%배당 성향NG.는 안정적으로 배당을 지급합니까?NG. 배당 기록 및 벤치마크 보기다가오는 배당을 받으려면 언제까지 NG.를 매수해야 하나요?National Grid 배당 일정배당락일May 28 2026배당 지급일Jul 23 2026배당락일까지 남은 일수3 days배당 지급일까지 남은 일수59 daysNG.는 안정적으로 배당을 지급합니까?NG. 배당 기록 및 벤치마크 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/24 11:20종가2026/05/22 00:00수익2026/03/31연간 수익2026/03/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스National Grid plc는 30명의 분석가가 다루고 있습니다. 이 중 13명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Gary HovisArgus Research CompanyDominic NashBarclaysDominic NashBarclays27명의 분석가 더 보기
분석 기사 • 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.
속보 • 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.
공시 • 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.
내러티브 업데이트 • 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.
분석 기사 • 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.
속보 • 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.
공시 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
내러티브 업데이트 • 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.
분석 기사 • 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...
내러티브 업데이트 • 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.
분석 기사 • 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...
내러티브 업데이트 • 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.
분석 기사 • 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...
내러티브 업데이트 • 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.
공시 • 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.
내러티브 업데이트 • 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.
분석 기사 • 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.
공시 • 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.
공시 • 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
공시 • 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.
분석 기사 • 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...
공시 • 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.
분석 기사 • 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.
분석 기사 • 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...
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
새로운 내러티브 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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).
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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.
공시 • 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
