Share Name Share Symbol Market Type Share ISIN Share Description
National Grid LSE:NG. London Ordinary Share GB00B08SNH34 ORD 11 17/43P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.50p +0.14% 1,069.00p 1,068.50p 1,069.00p 1,070.50p 1,064.00p 1,064.00p 1,384,109 11:50:35
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 15,115.0 3,032.0 69.0 15.5 40,244.26

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Date Time Title Posts
06/8/201513:21NG. with charts2
21/5/201511:12NG--with charts.1
28/11/201213:43National Grid - Powering Ahead!83
18/1/201210:49The New NGT/NG.269

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National Grid Daily Update: National Grid is listed in the Gas Water & Utilities sector of the London Stock Exchange with ticker NG.. The last closing price for National Grid was 1,067.50p.
National Grid has a 4 week average price of 1,072.13p and a 12 week average price of 1,070.59p.
The 1 year high share price is 1,148p while the 1 year low share price is currently 890.60p.
There are currently 3,764,664,357 shares in issue and the average daily traded volume is 6,380,246 shares. The market capitalisation of National Grid is £40,225,438,654.55.
mj19: National Grid plc 21% Potential Decrease Indicated by Credit SuissePosted by: Amilia Stone 7th October 2016National Grid plc using EPIC/TICKER code LON:NG had its stock rating noted as 'Reiterates' with the recommendation being set at 'UNDERPERFORM' today by analysts at Credit Suisse. National Grid plc are listed in the Utilities sector within UK Main Market. Credit Suisse have set their target price at 840 GBX on its stock. This would indicate that the analyst believes there is a downside of 21% from today's opening price of 1063 GBX. Over the last 30 and 90 trading days the company share price has decreased 4 points and decreased 52 points respectively.
utyinv: PO, Ofgem, are being politically motivated as they always are! They cannot stop the sale but obviously will play down a good RIIO review when next up 2021. By warning the potential buyers that they will not get above the regulatory asset value when the review next occurs is basically OFGEM trying to use the sale for their own benefit in reducing costs in the future. Eg, Lets say Asset value is £5.6 Billion (for the 51% stake in the four Distn networks). On bidding, like an auction for houses, a reserve price will be set at X, in this case what National Grid values the 51% stake as a minimum i.e. (£11 billion x .51 = £5.61billion). So say Company 'China X' buys all four networks (to make it easy), for £6billion, out bidding others. Ofgem are saying do not expect in the 2021 review that they will tolerate an asset value in excess of £5.61Billion x index. That then spoils the party for a keen 'China X' company wanting to invest further money in the network to improve returns, because OFGEM are saying they will not enter into negotiations years down the line regarding asset value, which is used to determine revenue. i.e trying to impose an unofficial 'crude derivative type' contract.That way it makes it easier for OFGEM to screw the new company in the next review and they (OFGEM) get a pat on the back for being clever in curbing the new owners future revenues. I hope my basic explanation makes sense? Ofgem should not make such future statements and what they are doing is trying to illegally set a future negotiation benchmark for any potential new company to settle a new review in OFGEM's favour(illegal because no one knows what will or not happen in five years time and IMO OFGEM are over-stepping the boundaries). As for the sale and possible return to shareholders: 51% stake will raise £5.61billion. National Grid has said it will not sell if it doesn't raise the min value of what they value the business at, i.e. they don't have to sell! So let's assume £5.61billion. Approx £2.6billion will be used to write off the pro-rata debt for the part business that National Grid currently owns, leaving approx £3.01billion for shareholders. Now there are two schools of thought: 1) all the proceeds are returned to share holders £3billion divided by 3.72 billion shares in circa = approx 80p/share. or scenario 2 (intimated at the AGM) 2) some will be returned and some will be used to buy back shares to try and maintain a reasonable value on the remaining share price, post distribution of the special divi (otherwise as the business is smaller then the remaining shares must be reduced pro-rata to reflect the new Capitalisation Value of NG). So we may get National Grid buying back some shares reducing the number of shares in circ (trying to maintain share price)and the rest distributed to shareholders. IMO if this scenario was to be undertaken 'we shareholders' may get 50- 60p back as a special dividend and the new shares value will not be drastically reduced. However, let's not forget why NG want to sell the Distn networks. They believe they have taken the business as far as they can with the effort and overhead costs they are willing to sacrifice. They believe they can improve the 'rate of return' per share if moving out of UK Gas Distn. A further clue would be what they do with the remaining 49% of the Distn Networks and where they spend that money (when the remaining holding is sold off in the future). My guess is that the proceeds of which will be used to purchase further acquisitions, with potential growth. All this IMO only!
utyinv: PO, I think you miss my point. Pre referendum National Grid value X. Post referendum National Grid worth X no change intrinsically, but the share price in GBP post referendum has gone up to reflect the drop in the value of the GBP worldwide, ie, 20%. Sure if you sold Grid at £11.30p and bought something from the UK you would benefit but if you bought something outside the UK you would be no better off than before the referendum. 30%+ of NG income comes from the US with a US$ income that is exchanged back into UK Sterling (in simple terms). I spoke to Bonfield (CFO) in July when the share price jumped almost overnight to £11.30 and commented that the share price jumping to £11.30 was only a result of the drop in the GBP and euforia shouldn't let us run away with ourselves and he agreed. NG has yet to be valued correctly and a pre referendum share price, based on money spent on increasing our assets by £5billion / yr should have raised the share price to £13/share. National Grid is one of a very few Companies that are expanding and spending real money improving and building asset base and the share price has not IMO kept pace with build. I dont have to explain the significance of an increasing asset base to you as I know you are aware how National Grid gets its income. I also expect a boost in share price especially when the City realise and 'clocks' what's on the horizon with the gas distn sale. My forecast, IMO! Distn business worth £11 billion sale of 51% gives a return of £5.6 billion, take pro rata debt off and a possible share buy back ( an option floated at the AGM to try and keep the share value up post sale) would leave £2.9 billion to be returned to shareholders. With 3.7 billion shares in circ this may realise a special divi of 78p.
utyinv: This is unusual, the share price should rise up to dividend payment day on the anticipation that much of the dividend held in ISA's etc will be re-invested to purchase extra shares. I will be interested to know how our new CEO reacts to negative actions on the shares (Shorting etc) and will he be engaged with Investors as Steve Holliday was?
utyinv: Tonio, lol, obviously you know I was referring to the previous post of the Dist sale posted by Skinny ( post 4036). If you look at my post again ( post 4037) I said price should be ..referring to the Dist sale.. But a share price of 10b would be nice now that you mention it :) The share price before the referendum and after is only a re-balance correlating to the devaluation in the GBP by 15%. That's the main reason why the share price jumped so much after the vote. Don't forget 35% of revenues come in US dollars!
tonio: UtyINV, where do I sell a share for £10b? Also the pre-Brexit share price was about £9.80, it rose to £11 on June 30th, after the referendum I think. MJ19,rising interest rates? Not today I think - and the idea that inflation can be moderated by increasing interest rates is so last year. With interest rates being decreased to near-zero and staying there have you noticed inflation accelerating upwards? Just another economist's myth I'm afraid - sack them all! Excuse me for being so argumentative.
utyinv: Divis being paid next week and many investors re-invest so should see the share price rise. this IMO is oversold especially when you consider the forecast asset base of NG which will bring in some nice returns in the future. As for debt, debt is fine for a Utility and has been endorsed by the regulator as appropriate i.e. the regulator believes for a Utility with guaranteed returns to have a higher debt means that customers would not have to stump up as much money up front to help pay for infrastructure build and it is appropriate to borrow at low interest rates. However this does not mean that once built then customers are let off paying for the asset use.
keelstow: any special divi would just come off the share price to balance the asset loss so what's to gain?
utyinv: If they (Gov)decided to take the System Operator off NG then it's not such a big deal! Out of the £2+billion profit NG makes, the SO element of the business accouns for only £70 million of that whole figure. That being the case, if the SO was taken off NG then the interference by the regulator and DECC in future would not be warranted. That leaves NG open to charge more for the use of system. Inter Connectors are part owned (50%) by NG and what John Pettigrew should spell out to the committee of MPs is that Grid is not a charity! The media and City are ignorant of what is involved so the fall in share price is typical ignorance and hype trying to manipulate the SP!
bountyhunter: I think so, £10 short term target again. The divi incease limited to RPI may be a little disappointing but that's on top of a yield which is already 4.4% at the current share price.
National Grid share price data is direct from the London Stock Exchange
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