National Grid Share Discussion Threads

[1carus] 17/4/2023 12:47

Gbh2, we've both been here for a while, 1200 always seems to be about thee top for this, do you think this can push upwards towards 1500 without revisiting the 900s.. and if so, why?

[gbh2] 14/4/2023 09:38

Luckily my new isa cash was sitting waiting for the kind of opportunity this morning share price drop provided :)

[utyinv] 14/4/2023 08:43

Pre-close always tells us nothing other than in line with expected results.

That said, even if CPIH (due out next Weds) for the year to end of March 2022-23 falls back to 8.8% (despite last month’s rise to 9.2%) , then a final dividend of 37.615p is expected (last year’s final was 33.76p)

[suetballs] 14/4/2023 07:16

A solid solid hold me.
Suet

[skinny] 14/4/2023 07:04

Overall, the Group's performance is in line with our expectations. As set out at half year results, we continue to expect underlying EPS growth for FY2022/23 in the middle of our 6-8% CAGR growth range.

Though not expected to impact FY2022/23 results, the UK Government's introduction of 'full expensing' tax relief for capital expenditure from 1 April 2023 to 31 March 2026, whilst economically neutral to National Grid, is expected to impact underlying earnings from FY2024-26.

Expected lower cash tax payable will result in reduced revenues in UK Electricity Transmission and UK Electricity Distribution, resulting in a broadly neutral cash position. However, these impacts, alongside a corresponding increase in IFRS deferred tax liabilities, will result in a net adverse impact to statutory and underlying earnings.

Taking this into account, the Group still expects to deliver underlying EPS growth of 6-8% CAGR across the five-year period from FY2022-26, but this is now expected to be towards the lower end of this range. Further updates will be provided with our detailed FY2023/24 guidance as part of full year results.

Finally, following the start of the RIIO-ED2 regulatory period on 1 April 2023, we will be hosting an investor event in London on 6 July 2023 showcasing our National Grid Electricity Distribution businesses.

[klotzak] 13/4/2023 08:33

Been a fair couple of weeks here, glad I'm in!

[utyinv] 22/3/2023 08:53

CPIH has risen from 8.8% to 9.2% in a surprise rise. Only need to wait one month now to determine the basis for National Grid’s final dividend statement and the commitment to deliver according to its dividend policy.👍

[unastubbs] 21/3/2023 09:35

UtyINV, hi to you also👋, thanks for your informative post (#8429) I appreciate your help here. Apologies for delayed reply, all the best Una

[gbh2] 20/3/2023 18:44

SP moves making no sense at all.

[mike24] 10/3/2023 08:08

14/3 NG to drop back, as the money chases the recovery,
rates on hold would be good for builders/banks
dyor

[utyinv] 09/3/2023 09:50

Hi unastubbs,

The CPIH is the Year to date figure. So come April, when the March, year to date, is published, this is the data that they will use.
They used to use RPI but then changed it.

John Pettigrew has declared that the dividend will be based on CPIH.

It has come down a bit and may probably come down again especially with the budget on 15th March and the BoE meeting on the 23rd March.

[unastubbs] 09/3/2023 01:11

#8381 by UtyINV

"last year’s divi in total was 50.97p (17.21p +33.76p) x 1.1 ( 10% CPIH) = 56.067p less interim announced today of 17.84 = 38.227p for a final divi"

the latest CPIH is for January at 8.8% with an implied dividend (using the math aboove) of 37.61p. When NG report on 18 May will they simply use the latest available data provided by ONS (most likely March) for their calculation? Or is there some arcane smoothing process taking the whole year's inflation in to account?

thanks! Grid c. 4.5% of my portfolio.

[mike24] 07/3/2023 18:44

wow, dow just touched -500
possible fed 6% rate target is a sledgehammer to crack a nut (fedspeak)

[utyinv] 06/3/2023 11:02

Mike24,

For many years the FTSE was 1/2 that of the DOW plus 200 points. But since 2016 the FTSE and the shares that form the index has been undervalued while many index’s across the world have grown.

If the FTSE kept pace with the DOW and other index, the FTSE should be 16985 and not sub 8000.

UK listed stock grossly undervalued.

[mike24] 06/3/2023 08:33

shares have had a good run since last oct, dow chart looking weak

[gbh2] 02/3/2023 08:20

Must admit I didn't expect to see NG's share price at the bottom of my portfolio.

[gbh2] 01/3/2023 16:19

So it's your fault the share price has tanked ;)

[pierre oreilly] 01/3/2023 16:15

Well, luckily that worked well. Even made a 400 quid profit after all costs and stamp. Isa allowance used (for one isa), cgt allowance used, and a bit of cash (luck not judgement). Next batch outside an isa will have to wait until April. Income back up again thankfully.

[utyinv] 21/2/2023 15:00

Yanks manipulating the markets imo.

Dow over priced or FTSE grossly underpriced

[jephron] 21/2/2023 12:17

You should think of the employees driving value for the company now who have defined contribution pensions. Excessive DB schemes ruined old age for everyone else!

[pierre oreilly] 13/2/2023 16:02

This is the only share I have not in an isa. (I also hold a lot in our isas, nice tax free income from those!) Bearing in mind the imminent lowering of the cgt exemption, I've just sold about half which gives me my cgt allowance for this year. I'll tfr the cash into the isas, and buy them back there. Just nicely fits into the isa transfer allowance too!

[utyinv] 08/2/2023 19:24

BUFFALO, NY / ACCESSWIRE / January 24, 2023 / The National Grid Foundation is contributing $500,000 to further support western New Yorkers who continue to recover from the historic blizzard that impacted Buffalo and much of the region in December. The funding will be distributed to the same charitable organisations that received $500,000 from National Grid shareholders on Jan. 12, bringing the total recovery-effort funding from both organisations to $1 million

[utyinv] 08/2/2023 19:20

National Grid increased the number of shares in circulation, from 3.4billion to 3.69 billion (diluting the value of shareholder’s holdings).


After all, the shareholders own the Company not the Directors who are simply Employees, but the behaviour of our BoD gives rise to criticism that they forget who are the real bosses.

They are quick to issue new shares to fund projects and remunerate Directors, but refuse to even consider a discretionary increase to NG pensions above 5%, even when RPI was approx 12% in Sept ( Sept RPI sets the pension increase). In normal times the increase is capped at 5%, but they do have the ability to award a discretionary rise in excess of 5% in exceptional circumstances, which in 1991, did so proudly. Many pensioners receive small pensions ( not all ex Employees held responsible positions) and its these pensioners that are struggling with the cost of living.

I would also like the BoD to concentrate on getting our share price to £19/ share. Not unreasonable for a Utility, which is supposed to be one of the best in the world. If a mediocre car manufacturer can be worth nearly $1 trillion ($1000Billion), surely an essential world famous utility should hold a value of more than $45 billion or £37billion. At £19 / share the market cap will be £70 Billion, a Company providing essential services to every man, woman and child.

The objective of a CEO is to increase shareholder value. The many other directors have different responsibilities for various operations.