Share Name Share Symbol Market Type Share ISIN Share Description
National Grid Plc LSE:NG. London Ordinary Share GB00BDR05C01 ORD 12 204/473P
  Price Change % Change Share Price Shares Traded Last Trade
  1.60 0.17% 947.20 1,487,769 13:41:19
Bid Price Offer Price High Price Low Price Open Price
947.20 947.60 953.40 940.40 950.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gas Water & Utilities 14,540.00 1,754.00 36.50 26.0 33,343
Last Trade Time Trade Type Trade Size Trade Price Currency
13:41:15 AT 90 947.20 GBX

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Date Time Title Posts
14/11/201908:52National Grid - Powering Ahead!84
04/2/201815:33NG--with charts.3
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National Grid Daily Update: National Grid Plc is listed in the Gas Water & Utilities sector of the London Stock Exchange with ticker NG.. The last closing price for National Grid was 945.60p.
National Grid Plc has a 4 week average price of 857.80p and a 12 week average price of 827.80p.
The 1 year high share price is 1,073.80p while the 1 year low share price is currently 790p.
There are currently 3,520,183,334 shares in issue and the average daily traded volume is 4,478,157 shares. The market capitalisation of National Grid Plc is £33,469,903,139.67.
bountyhunter: "For National Grid, the utilities team expect regulator Ofgem’s final determination in December to “outline more favourable conditions compared to July’s draft determination and our upside case could lead to a significant re-rating”. National Grid’s target price is 1,050p, offering about 10% upside.For National Grid, the utilities team expect regulator Ofgem’s final determination in December to “outline more favourable conditions compared to July’s draft determination and our upside case could lead to a significant re-rating”. National Grid’s target price is 1,050p, offering about 10% upside." Https://
samwn1: Positive report in Tempus (The Times) today : National Grid National Grid shareholders listening to its top brass recently might well be worried (Emily Gosden writes). The utility group has painted a dire picture of the “unacceptable” regulatory settlement it faces in the UK, in which Ofgem proposes steep curbs on both the amount it can invest at consumers’ expense, and the profits it can earn for doing so. National Grid claims that the proposals offer an “inadequate return for investors”. “The message to investors will be to invest overseas or in the UK water rather than energy sector,” it said. So are things as bad as the company claims — and if so, should investors indeed take fright? National Grid operates the national networks of electricity cables in England and Wales, and gas pipelines across Britain. Like other monopoly network companies, its revenues for this role come from levies on energy bills and are regulated by Ofgem through multi-year “price control” settlements. The last, eight-year settlement proved so generous that even the companies admitted returns needed to come down in the five-year price control from 2021. However, when draft plans were unveiled by Ofgem in July, the networks — and the market — appeared surprised by how far it had gone in the other direction. Ofgem proposed almost halving returns to 3.95 per cent and roughly halving National Grid’s upfront investment allowances, to about £5 billion. The company’s shares fell and John Pettigrew, chief executive, has claimed that the proposals raise the risk of blackouts, jeopardise Britain’s climate ambitions and will leave the nation struggling to attract investment. Certainly Ofgem has got tough — and plenty of analysts agree that the settlement is harsher than expected — but some of National Grid’s warnings should be taken with a pinch of salt. It made the same claims over blackouts before the previous price control, only to fail to spend all the money it was allocated for network resilience. Its managers are playing every card in the book to try to boost returns to shareholders. Ofgem has made clear that it is open to evidence and it seems likely that it may approve some more spending on network resilience by the final determination in December but it appears less likely that it will relent on returns. If Ofgem doesn’t budge substantially on either point, companies are expected to appeal to the Competition and Markets Authority. Still no dice? Even then, it’s not the disaster it might sound. First, the UK business is only one half of National Grid. It already has a very substantial regulated networks business in the United States, where it is investing more than it is in the UK. When it talks about more attractive investment opportunities outside the UK, it is well placed to exploit those. And a potential Joe Biden victory with a promise to boost green energy investment could further increase its opportunities. Second, even in the worst case scenario for National Grid in the UK, in which Ofgem’s draft proposals stand, analysts at Bernstein research say that they expect it to be able to “comfortably maintain its dividend growth policy”. It aims to increase its payout at least in line with RPI inflation “each year for the foreseeable future”. With shares up 13½p to 850p yesterday, they are yielding a healthy 5.7 per cent. In the current climate, when the pandemic is forcing others to curb payouts, that’s an attractive prospect. Of course, National Grid is seeing short-term costs from Covid-19 but it expects to be able to recoup these through the regulatory system in coming years. That is another reason why, despite all the protestations over the Ofgem price control, the company looks attractive. ADVICE Buy WHY Short-term noise obscures attraction of low-risk long-term business and healthy dividend
beckers2008: NG. have said that some of OFGEM's proposals are 'unacceptable' this is absolute. If OFGEM don't blink, NG will not comply. OFGEM can not force NG. to do what they want. I see NG. selling the license business. It's a no-brainer, when not if they do, the share price will appreciate materially.
utyinv: Pierre, I totally agree. Those employees that get those mega salaries and shares are the likes of the CEO who would get those benefits whatever the situation was. Look at Lloyds CEO. The mass employees are only allowed £125/month SIP (buying shares free of income tax and at current market value) or in a sharesave where they save from their gross salary anything between £10 and £500 per month, to buy shares at the end of three or five years time (or take the cash - if shares are lower than the option price). This is no different to any company that runs these schemes. A lot of employees cannot afford to save in sharesaves and those that do invariably save far less than the maximum. NG is being vilified by Ofgem to make them look good ( look how good we are everyone in screwing NG), in face of the dire situation some of Joe Public finds itself in. Ofgem was created to oversee the regulated businesses, to ensure there wasn’t any gaming and promote competition but at the same time allow the Companies to make a profit which is needed if you are going to run a successful business where capital is needed for future infrastructure. You don’t attract investors money if you screw shareholders. Ofgem have got ahead of themself’s and have forgotten what they are about.
cousin jack: Bought a few today and will build position on further falls. Clearly the share price reflects prospects of a dividend cut but investors need income and even a meaningful reduction will still leave a decent dividend. Additionally a cut is by no means certain, particularly given that the US regulatory environment is very different to the UK's. I suspect the market is anticipating a worse outcome than we may well get so risk/reward balance has tempted me in.
utyinv: Pierre, Did you listen into the Ofgem conference call? In a nutshell, the main presenter said they made a number of assumptions about National Grid because the information that OFGEM had requested from all the Utilities wasn’t provided by National Grid???? The presenter even said “we asked National Grid for some clarification and they did not deliver on our request”. Now I know that NG has an office that deals with submitting info to OFGEM and are required to have regular dialog when OFGEM are determining a review. So have NG been sitting on their hands? Has someone done a terrible job? Or is Ofgem being extremely insensitive by assuming the answers to their questions are easily obtainable when many office workers were working from home? But in any case, if they hadn’t had sufficient information to determine a realistic proposal they shouldn’t have made assumptions that they knew would destroy the share price. In the QA section, analyst after analyst questioned why NG were singled out in comparison to say SSE. Ofgem responded by saying we made assumptions because they didn’t submit answers to our questions. One analyst at the back end of the QA session apologised for being late into the QA , but went on to say he was late because he was trying to get his head around the hundred plus pages of the report and looking at how the markets have reacted. He actually said “is it fair to make negative assumptions that have had such a catastrophic effect on NG’s share price”? The Presenter was shocked by the comment as he thought that OFGEM’s stance was a vote winner and he wasn’t expecting critics of NG to come to NG’s defence, highlighting the biased and negative way Ofgem have treated NG.
mark1000: Uty Hi you are right about transaction costs of say 5p a share need to be taken into account. With a share like NG it may spend a few years trading between say 9.00 and 10.00. If you accept this you can trade from time to time and mainly do Ok with the dividend and small gains offsetting smaller losses. If you are not prepared to buy and sell you pick up the divis and have less hassle. I suppose I need to get a life and stop looking at the NG share price.
beckers2008: Yet another OFGEM decision will stress why NG. should only carry out regulated work for them and reduce exposure and the high risk for little reward that goes with working for OFGEM. The US success story will continue and with it, NG. who will continue to invest more for a fair ROI compared to the pitiful ROI in the UK. Strange at one point on Friday that the share price was down circa 4% on news that OFGEM will be penalising NG. £60 million, 20 million less then the market first thought. The market repaid NG. by taking circa £1.2 billion off the share price, strange times indeed!
beckers2008: PO, Sure NG. have a legal framework, but as of the GAS business they can sell the UK Electric business to the highest bidder, that is what I am alluding to. Ofgem are restricting NG. evidently on ROI compared to the USA. NG. are increasing sales in the US now up to 60% of the business and increasing as of the last operational statement. NG. do implement efficiencies to benefit the consumer, again, more investment in the US, especially on 'Green' projects. NG’s obligations may have been designing of the subsea cable project for Ofgem's signature, the government got rid of the 'intelligent client' role in all their ministries back in 07,08,09 & 10 so not confident that Ofgem have the suitable skilled personal to effectively challenge any design parameters? Anyhow, they don't need to, they ask NG. to install something as the ‘Intelligent Contractor’ and if there is a delay over the contract period or faults with the installation, NG. get the fine if they have broken contract on expected delivery, sure they can try and pass on failure of delivery fines to their subbies but I doubt if they can mitigate 100%? And they will have a fight on their hands. Worse case is NG. have failed on the design on suitable and sufficient etc, then the mess will hit the fan and if the design in proven as not suitable and sufficient, then only the designer is at fault not the contractor who installed what they were asked to. All government departments have ‘Preferred Supplier Lists’ and each company is audited yearly on their performance and can be removed from the list if they are not up to the job, a lot of companies do all they can to get on government departments supplier lists as they normally get paid on time! I just hope Ofgem get a move on and conclude their investigation in a timely manner and remove this current uncertainty.
newbank: Must admit, I am not impressed with how quiet Pettigrew and the Company have been. The Company said last Dec when Ofgem hit NG with draconian prospects for RIIO 2 and NG at the time said they were disappointed but would respond in full in the New Year. In Full? They have capitulated to OFGEM's demands. Leak in the BBC news last Thursday that Corbyn was preparing to talk about a Paper they have produced outlining plans to take NG into public ownership. No one at the Company was available for comment. What defensive plays have Pettigrew and his team undertaken with all these negative vibes hitting the media? One of the reasons why Andrew Bonfield left NG to work for Caterpillar was not only the remuneration being offered or the fact that he wanted to spend more time in the US, I have it on good authority one of the main reasons was Pettigrew's insistence on not diversifying enough to protect Investor capital. Pettigrew and his Board have received increased pay awards and bonuses, yet since he stepped in to Steve Holliday's shoes nearly three years ago, the share price has fallen from £11.64 to today £8.4. Three years of growth yet the share price falls approx 30%. If you take inflation into the calculation the real effect is far worse. So why is Pettigrew and his Board rolling over to any threat to the business? Having been an investor in many Companies over the years, there is a concerning theory as to why there are so few RNS's or presentations to investors on the prospect for NG share price growth, it's because Pettigrew hasn't got a clue and is sticking his head into the sand and capitulating. Maybe he fancies being in charge of running a Nationalised Energy Company with his current Final salary pension already protected and the prospect for a Government backed pension for anyone running a state owned Company, in reality he will be coining it in. Dean Seavers (NG US Chief), was quite open at one of the last AGM's to a friend of mine who asked him why doesn't NG invest far more in the US, where business is treated more favourably than the UK (UK draconian Regulation and a Marxist shadow Gov wanting to take control of our economy), and his reply was 'Absolutely right' but the Board are looking at opportunities. A polite way to say the 'Board' can't see the car crash that NG are heading for, what with OFGEM wanting NG investors to invest for very little in return and the Marxists waiting in the wings to confiscate assets and wealth. Two presentations a year a 'Final' and an 'Interim' and a couple of courses to tell Investors how great National Grid is growing. No mention of the disastrous share price, no mention of the fact that Pettigrew still got his £5million pay packet and bonuses for achieving his performance targets. WHAT PERFORMANCE TARGETS? Surely the main Performance target for a CEO is the share price which reflects an independent view on Business confidence and prospect. I honestly think that Pettigrew has turned his back on Investors and no longer figure in his priorities. AIMO
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