National Grid's Rights Issue Is Highly Dilutive, but Removes Uncertainties
National Grid owns and operates energy networks in the United States and the United Kingdom.
National Grid PLC ADR NGG
Bulls Say, Bears Say
Bulls
The sale of Grain LNG, renewables assets, and ESO should command high multiples.
Bears
The highly dilutive rights issue reflects poor capital allocation.
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News
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U.K. Utilities' Shares Fall on U.K. Election News, National Grid Discounted Fundraise
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National Grid Shares Down 10% on Details of Infrastructure Investment Plan
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National Grid Commits to Investing $35 Billion in New York & Massachusetts to Meet Decarbonization Goals and Build a Stronger, Cleaner Grid
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National Grid to Invest GBP60 Billion in Energy Infrastructure After Profit Rises — Update
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National Grid's Underlying Profit Rises; Sets GBP60 Billion Investment Plan
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National Grid on Track for Highest Close Since May 2023 — Data Talk
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National Grid Opens Applications for DEI Engineering Scholarship and Internship Program
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National Grid Announces the Upstate Upgrade; Multi-Year Initiative Will Improve Grid Resilience, Deliver Significant Benefits for Customers, Local Economies
Trading Information
- Previous Close Price
- $55.50
- Day Range
- $56.26–57.40
- 52-Week Range
- $55.13–73.40
- Bid/Ask
- $56.19 / $57.99
- Market Cap
- $54.70 Bil
- Volume/Avg
- 1.2 Mil / 449,504
Key Statistics
- Price/Earnings (Normalized)
- 10.52
- Price/Sales
- 1.80
- Dividend Yield (Trailing)
- 6.64%
- Dividend Yield (Forward)
- 6.64%
- Total Yield
- 6.52%
Company Profile
National Grid owns and operates the electric transmission system in England and Wales. It sold the bulk of its UK gas transmission business in fiscal 2023 to fund the acquisition of PPL's UK power distribution assets. In the Northeastern United States, it serves electricity and gas customers combined in three states. It also owns regulated transmission and electricity generation in the United States, metering services, merchant transmission lines in the UK, and the Grain (UK) liquefied natural gas facility.
- Sector
- Utilities
- Industry
- Utilities - Regulated Electric
- Stock Style Box
- Large Value
- Total Number of Employees
- 31,425
- Website
- https://www.nationalgrid.com
Competitors
Valuation
|
Metric
|
NGG
|
ED
|
IBE
|
|---|---|---|---|
Price/Earnings (Normalized) | 10.52 | 18.71 | 12.98 |
Price/Book Value | 1.19 | 1.46 | 1.42 |
Price/Sales | 1.80 | 2.18 | 1.67 |
Price/Cash Flow | 6.50 | 7.38 | 7.61 |
Price/Earnings
NGG
ED
IBE
Financial Strength
|
Metric
|
NGG
|
ED
|
IBE
|
|---|---|---|---|
Quick Ratio | 0.64 | 0.77 | 0.60 |
Current Ratio | 0.91 | 1.01 | 0.77 |
Interest Coverage | 2.63 | 3.94 | 4.98 |
Quick Ratio
NGG
ED
IBE
Profitability
|
Metric
|
NGG
|
ED
|
IBE
|
|---|---|---|---|
Return on Assets (Normalized) | 3.03% | 2.78% | 4.79% |
Return on Equity (Normalized) | 9.72% | 8.52% | 14.40% |
Return on Invested Capital (Normalized) | 5.36% | 5.87% | 7.51% |
Return on Assets
NGG
ED
IBE
Utilities - Regulated Electric Industry Comparables
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