National Grid (NG)

Business description

National Grid owns and operates regulated electricity and gas network assets in both the UK and the US. Its unregulated assets consist of the Grain LNG import terminal, interconnectors, a metering business and a property business.

Stock data

Market cap.£32505.4m
Last close952.00p
High / Low (52 weeks)1130.5p / 891.5p
Stock market listingLN, US
Forecast net debt (£m)22118
Forecast gearing ratio (%)175
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual(1.2)(6.3)(8.8)
Relative *(0.4)(4.1)(16.9)

* % Relative to local index

Other companies in sector Show

Company news

National Grid plc (ADR) Reports Solid Year, Moves Forward Under New CEO

Fri, 27 May 2016 11:04:19 GMT

National Grid Is One Utility Worth Buying Despite Rate Hike Expectations

Thu, 01 Dec 2016 17:18:27 GMT

Utility stock to watch: National Grid plc (ADR) (NYSE: NGG)

Thu, 18 May 2017 14:15:00 GMT

3 Value Stocks for Nest-Egg Growth

Fri, 15 Sep 2017 12:20:36 GMT

Laurel Grove Capital Trimmed National Grid Plc (NGG) Position By $1.88 Million ...

Mon, 25 Sep 2017 18:33:45 GMT

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 13212.0 5710.0 2417.0 50.2 19.0 6.3
2017A 15035.0 6352.0 2807.0 47.9 19.9 5.6
2018E 15279.0 4929.0 2894.0 64.4 14.8 6.6
2019E N/A N/A N/A N/A N/A N/A

Last updated on 18/08/2017

Investment summary

National Grid's FY17 results on 18 May were in line with expectations. The sale of 61% of the UK Gas Distribution was completed with £4bn of proceeds due to be returned to shareholders. In the US, rate filings in New York gas and electric businesses have begun to translate into enhanced returns. The slight reduction in overall group RoE from 12.3% in FY16 to 11.7% was partly due to an exceptionally strong prior period in Grid’s Other Businesses.

Last updated on 06/09/2017

Industry outlook

With visibility on the allowed rate of returns by Ofgem in the UK until 2021 and potential capex upside from the UK government's Electricity Market Reform, National Grid is well positioned to play a key part to ensure security of supply and support the development of new renewable generation.

Last updated on 06/09/2017

Key management

John Pettigrew, CEO
Andrew Bonfield, CFO

Company address

Floor 4
1-3 Strand
LONDON
WC2N 5EH
United Kingdom
+44 (0)20 7004 3000
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