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NG. National Grid Plc

929.40
0.00 (0.00%)
16 Jul 2024 - Closed
Delayed by 15 minutes
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
  0.00 0.00% 929.40 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
930.40 930.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Combination Utilities, Nec 19.86B 2.29B 0.6153 15.10 34.59B
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 929.40 GBX

National Grid (NG.) Latest News

National Grid (NG.) Discussions and Chat

National Grid Forums and Chat

Date Time Title Posts
15/7/202410:00NATIONAL GRID WITH CHARTS/NEWS/LINKS9,668
27/6/202415:02National Grid - Powering Ahead!107
04/2/201815:33NG--with charts.3
06/8/201513:21NG. with charts2
18/1/201210:49The New NGT/NG.269

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National Grid (NG.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-07-15 16:22:16933.0019.33O
2024-07-15 16:22:03933.0019.33O
2024-07-15 16:19:03933.00765.31O
2024-07-15 16:19:01933.0019.33O
2024-07-15 16:19:01933.0019.33O

National Grid (NG.) Top Chat Posts

Top Posts
Posted at 15/7/2024 09:20 by National Grid Daily Update
National Grid Plc is listed in the Combination Utilities, Nec sector of the London Stock Exchange with ticker NG.. The last closing price for National Grid was 929.40p.
National Grid currently has 3,721,539,361 shares in issue. The market capitalisation of National Grid is £34,587,986,821.
National Grid has a price to earnings ratio (PE ratio) of 15.10.
This morning NG. shares opened at -
Posted at 10/6/2024 11:41 by pierre oreilly
There's no direct link between the divi and earnings.

Pettigrew said he expected earnings next year to grow roughly in proportion to the number of shares, therefore eps being about the same. After that istr he expect earnings (and eps) to grow at 10% pa for the following 6 or 7 years (as you say, mainly due to asset growth). The constant (in real terms) high, relative to the risk, divi (almost whatever cpi does) combined with share price growth proportional to eps growth is the investment case the directors put forward.

A sort of safe indexed linked income with very likely share price growth (of around 10%pa ? if relative to eps) is probably what the City likes.
Posted at 06/6/2024 18:45 by 1carus
Yep, happy with the 5.4% yield as long as it is supported over the long term. Plus if the asset value is to double in 5 to 10 years the share price should be hitting mid teens at least. Good news for everyone here that the share price did not drop significantly today.
Posted at 03/6/2024 11:16 by pierre oreilly
Anhar, many here, including me, find grid operations very interesting (probably many don't too, each to their own).

But windmills are crucial to ng. Without the massive expansion of windmills, 95% of the recent grid expansion plans wouldn't be necessary at all, and of course, ng. gets its profit from grid assets, and is completely derisked as to the madness of net Zero (and windmills are part of that).

Also, many here have actually worked at ng. and spent a lot of time and energy and expertise making the grid extremely efficient and the best in the world, keeping bills as low as possible for customers. Seeing all that effort go to waste and brushed aside for some political reasons and building a grid of waste and duplication which customers will pay for at a very high level in a few years (ng. investors are paying a small part of that atm to be reimbursed by customers in the future.

Instead of believing gov (and our own directors') lies about the future cost and efficiency of our electricity, readers can have offered a more realistic view. NG. shareholders will next year start to be rewarded very profitable for NZ spending (since many projects have already started which will soon contribute) and that will ramp up over several years. But, and it's a big but, it comes at a high cost to customers who increasingly will have to choose between the old eating and heating and worse. I personally want everyone to know that and question whether this is what the uk really wants.

So it's off topicish, but not by much.
Posted at 31/5/2024 10:19 by 1carus
Hmm, hard to tell if the climb back has started as a swallow does not make a summer. The dust will settle a little after the xd date and the immediate drop afterwards. But not until this whole process is over would I attempt to work out the winners and losers here. However given time the share price should recover to the value before this debacle started. ie share price = value pre rights + money raised by the rights / shares issued. Which should be greater value than before.
Posted at 28/5/2024 15:02 by utyinv
Goonerbob

In the Companies you mentioned they were in dire straights. Two things occur that will affect the share price,
1) ex dividend when the price will fall by the divi of 39.12p+ ( they nearly always fall more than the divi) and
2) the rights all settle into normal shares as a collective on 12th June.

If ignoring the ex-divi drop, one has to evaluate a like for like situation where the market cap on May 20th was approx £41.77 billion (£11.29 and 3.7 billion shares in circ) and a new total shares in circ of 4.8 billion. Fundamentally, ignoring the ex divi fall in share price but adding the £7 billion raised from existing shareholders the market cap should raise the market cap to £48.77 billion, divide that by 4.8 billion shares in circ gives an equivalent price of £10.16 / shares.

Obviously, by then the shares would have gone ex div and fallen but you cannot alway account for market sentiment. Upshot is, I would be very surprised if it does fall as low as you predict in post 9234
Posted at 28/5/2024 14:37 by goonerbob
I suspect the NG. share price will follow previous Rights issue eg. Rolls Royce(RR.) or more recently Synthomer(SYNT)and drift closer to the rights price of 645p or even go below as in both RR. and SYNT cases.
Posted at 28/5/2024 13:30 by pseudosphere
I bought some additional nil paid rights this morning. The NGPN price range, thus far today, was 195.8 - 215.4 and closely tracks NG. as expected.

You have to pay SDRT at 0.5%, plus the usual trading fee but it appears to be a reasonable speculation at the current price of approximately 200p.

Current NG. price is 886p, at the time of writing; so allowing for a further drop of 39.12p,when it goes ex-div on the 6th of June, may make it worthwhile, for those prepared to take a punt that all the bad news has already been priced in?
Posted at 27/5/2024 15:06 by albajack
@utyinv:

If 'z' is being calculated from 'x' and 'y', and then 'z' and 'y' are being combined in a reverse calculation, the result is 'x'.

It does not matter how experiened an investor might be, or whether the calculation is performed by an administrator, the result is exactly the same as the original number. There is no value to be discovered from the process:

10 / 2 = 5

10 / 5 = 2

I'll repeat, but rephrase: calculating value on an *unknown* shareprice at some point in the future is a wholly different set of questions and statements - and likely answers.



I am retired, have also been investing for a good many years, and am aware of different situations regarding rights issues, having been in them myself (*Segro). One situation, which I have not seen mentioned on here, is how to account for lost income when selling a holding and trying to guage a re-entry price.

If the share price goes XD and falls below the perceived valuation price, does this trigger a purchase? This is less of an issue with NG's forthcoming final dividend as the investor already has the dividend in the bag if the share is sold before the XD date. However, if shares are not repurchased before the subsequent dividend, i.e. the next interim, how is that to be incorporated into a valuation point calculation?

Once the opportunity to take that dividend has passed, the investor suffers a permenant loss of income - and this is also something which should matter to an income investor. Leave it too long before buying back in and the loss of further dividends can lower the valuation price required to recover accumulated cuts to income to an unrealistic level. If the investor wants income from this security then there will come a time when the shares will have to be bought even if they are above the preceived valuation price. This is one of my own experiences. It is a similar problem to trying to time markets.


Something else that I have not seen mentioned on here is how raising debt instead of equity can lead to a cut to the dividend. Interest payments have priority and have the potential to reduce cash available to pay dividends. NG's dividend cover is already low - last number which I have from ShareCast is 1.2. NG's credit ratings are also towards the low end of investment grade. Take on more debt and the risk is of being downgraded to junk territory. If this happens then coupons on subsequent debt will be higher - and this will matter a good deal once existing investment-grade bonds with lower coupons need to be refinanced. And there is the ongoing problem of how to refinance the debt just raised when that matures - another round of replacement debt?

There does come a time when raising finance as equity rather than as debt is sensible - and safer. A current example of how debt can truly destroy shareholder value is Thames Water. Instead of putting new equity into the company, shareholders preferred to have new finance raised as debt. Now they are very likely to be wiped out.



...and...on an entirely tongue-in-cheek note...

New infrastructure is needed not just because of the Green Transition. New infrastructure is needed whether the electricity is green or grey. The area around west London, alone, is struggling to build new housing because of contraints on the electricity supply infrastructure. These contstraints are due to the number of data storage warehouses in the area (greater Dublin has a similar problem, just FYI).

These centres require air conditioning to keep the environment cool enough for the servers that they house. As the number of servers increase there comes a time when a new air-conditioned building has to be built to house them.

These servers store internet-generated data. Some of this data is social media, e.g. Meta, X, etc. Some is from sites such as - ADVFN.

As more posts are made on ADVFN, more server space is required to store them. Eventually, a new server required, leading to...a ripple up the chain.

Therefore, every post being made on ADVFN which is criticising the NG. rights issue is doing a little bit more to speed up the need to upgrade the very infrastructure upon which their published criticisms are reliant... :-)

Do try to read it in good humour, please - it's a Bank Holiday...!



*Segro: being my most previous situation of a capital raise prior to NG.. Not enough cash on hand to fully subscribe to my entitlement. Took up what I could. Subsequently topped up when sufficient funds had accumulated. My situation now is different, having just sold something before the RI announcment with the intention of reinvesting elsewhere. Instead, these funds will go towards NG. and the other will have to wait. Two identical requiremens, two different situations, both managed accordingly.
Posted at 27/5/2024 00:21 by albajack
@bountyhunter, what you said in #9151 was:

"Another way of attributing a value would be to multiply £11.26 (Wed close) by the rebased dividend per share divided by the current dividend per share, I've not tried that one but it may come out close to the figure we have posted, leaving the future yield roughly the same due to a lower share price?"

And the answer to that question was that you are calculating a future lower share price (x) by dividing the future dividend (y) by the current percentage yield (z). So if you then divide the future dividend (y) by the resultant future lower share price (x), the answer you get is (z), i.e. the current percentage yield. Not roughly the same, but exactly the same.

x = y / z

=> z = y / x

You say you haven't tried it; give it a go.

If you are wanting to calculate the prevailing yield at some point in the future based upon a prevailing share price and expected dividend, and then compare to previous data in order to ascertain value and/or re-entry points, that is something different to your question.


The advantage for those of us who have not sold is that there is no need to try to time a way back in. And by taking up rights in full we suffer no cut in total dividend received.

A 645p per fully-paid rights and an adjusted future dividend of 45.3p is a 7% yield on the purchase. No transaction charges, no stamp duty. These two will also lower any re-entry price calculations, especially the latter.


Oh, and I am an income investor, both now an in the future...!
Posted at 26/5/2024 18:37 by bountyhunter
58.52p total divi for 23/24
checking for the rebased value

"...a total DPS of 58.52p/share for 2023/24 which will then be rebased given the increased number of shares following the Rights Issue."

So the dividend per share will decline by 24/31 due to the dilution. For the same dividend return as at the Wed close for purchasers of the shares ex rights the share price would need to be 1126p*24/31 = 871p, not far off the share price now.

For me personally if I could buy back at 1025p * 24/31 = 793.5p then my dividend payment would be unscathed! :) ..as I sold at a 1025p average on Thursday. I'm not expecting the price to drop back that far but who knows. If I did that before the 6 June of course I would get the unrebased final dividend (although just for 23/24) on more shares, so 793.5p is too low as I haven't allowed for potentially buying back a few more shares (on which the unrebased final dividend would be paid) at the lower price. I give up, I didn't do advanced maths!
National Grid share price data is direct from the London Stock Exchange

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