Dropped like a stone this morning but I cannot find any news. |
"The fact the company has got the deal across the line in the new [US] political environment might be met with some relief," AJ Bell's Russ Mould commented. "The price tag looks reasonable for a set of assets which made a modest contribution to the group.
"Attention may now turn to the company’s stated plan to sell its Grain LNG terminal in Kent – a proposal which attracted some controversy when it was announced over the potential impact to energy security."
Alliance News |
National Grid plc ("National Grid") today announces that it has agreed to sell its National Grid Renewables US onshore renewables business to Brookfield Asset Management and its institutional partners including Brookfield Renewable Partners.This transaction is another important step in delivering National Grid's previously communicated strategy to focus on networks and streamline our business, as announced in May 2024.
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. |
Wow talk about paper shuffling!!
Good luck all 👍🏻 |
FWIW :- Goldman Sachs cuts National Grid price target to 1,136 (1,137) pence - 'buy'
That must have taken a lot of effort!!! |
CPIH for Jan released today = 3.9%
As you know, we only have two more release dates for Feb and March which will then provide us with the basis of what the final dividend will be set at.
Apr ‘24 through to Mar ‘25 / 12 = CPI figure used.
Share Divi for year 2024 was rebased to 45p due to Rights Issue X CPI Figure, less interim of 15.84p paid in Jan, should provide us what the final will be declared at in the final results in May. |
hxxps://www.lbc.co.uk/opinion/views/reform-uk-finally-proposed-a-policyand-its-an-economic-disaster/ |
Hi, any wise sages here got a view on Reform's proposal on a windfall tax on wind(!). Apart from locking up mad Ed and Nige in a boxing ring together... |
Predictable, the US selling off our best best Companies for short term gain and long term pain. The the ADR shorts in the US has increased by 184.9%.
Maybe the Yanks should sell down their own Companies and stop taking advantage of great British Companies. |
Well that was a p-poor fluctuation. |
May be of interest..
Panorama - Rewiring Britain: The Race to Go Green
BBC1 8pm tonight |
Interconnectors are fine except they don't give us one of the primary aims of our supply which is energy independence. We only get electricity from them of course when they have a surplus, so a 2GW link doesn't mean there's 2GW available anytime we want.On another point, I read somewhere about pumped storage becoming more widespread due to the addition of something heavy to the water making it 3x as dense. The implications of that are many more places becoming candidates for PS. less height difference for example. Maybe a goer, let's hope so. |
National Grid rose 0.3% as Citi upgraded to 'buy' from 'neutral'.
"We upgrade National Grid... following a period of share price underperformance, mostly driven by macro factors and flows," Citi said in a research note.
National Grid shares are currently trading on an around 15% premium to its regulated asset base, which Citi believes presents an "attractive entry point" compared to long-term average of 30%.
"We see this as attractive proposition together with a sustainable and growing dividend offering [around] 5.0% yield," Citi said. |
It makes a change to see a little consistency in broker ratings. |
FWIW :-
Deutsche Bank Research cuts National Grid price target to 1,050 (1,100) pence - 'buy' |
Citigroup raises National Grid to 'buy' (neutral) - price target 1,063 (1,050) pence |
Just make sure your W-8BEN is up to date. 😂🙏 |
 1Carus,
Shareholders won’t cough up, won’t need to.
The only reason why there was a rights issue recently, was because OFGEM stated that some pain will have to be taken by the shareholders rather than win win etc.
NG is no ordinary company where upgrading the system is borne by the business. It is written into law that any upgrade to improve the system’s reliability, efficiency or new connections is paid for by customers, through their bills.
However, once completed Ofgem say the asset base alone will be worth £20.80 / share so it’s only right shareholders are seen to contribute.
Happened before years ago at the last ‘rights’ issue, when the price was £7 / share.
Don’t forget 50% of the business is US based. If we don’t see a significant increase in share price I can see institutional investors plugging a London delist and go with the US.
Rio is faced with the same dilemma, where major institutional investors are trying to persuade Rio to go alone with the Aussie stock market and drop the London dual listing.
The London Stock market is vastly undervalued. |
#Skinny, 1 at a time, UU today, NG tomorrow.. :o) |
Dividend paid tomorrow @15.84p |
Not sure anyone else is going to cough up again until the price starts to rise. |
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