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 NG.
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
-
U.K. Utilities' Shares Fall on U.K. Election News, National Grid Discounted Fundraise
-
National Grid Shares Down 10% on Details of Infrastructure Investment Plan
-
National Grid to Invest GBP60 Billion in Energy Infrastructure After Profit Rises — Update
-
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 Gets Investment in Clean Energy Project From DOE
-
National Grid Gets $50 Million Grant From U.S. Energy Department
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National Grid 1st Half Performance in Line With Views, Underlying EPS to Be 2nd Half Weighted
Trading Information
- Previous Close Price
- GBX 869.20
- Day Range
- GBX 861.78–881.80
- 52-Week Range
- GBX 645.00–1,052.85
- Bid/Ask
- GBX 860.00 / GBX 905.00
- Market Cap
- GBX 4.19 Tril
- Volume/Avg
- 11.4 Mil / 14.3 Mil
Key Statistics
- Price/Earnings (Normalized)
- 10.35
- Price/Sales
- 1.77
- Dividend Yield (Trailing)
- 6.55%
- Dividend Yield (Forward)
- 6.55%
- Total Yield
- 6.55%
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
|
NG.
|
IBE
|
PPL
|
|---|---|---|---|
Price/Earnings (Normalized) | 10.35 | 13.08 | 19.20 |
Price/Book Value | 1.18 | 1.44 | 1.49 |
Price/Sales | 1.77 | 1.68 | 2.56 |
Price/Cash Flow | 7.65 | 7.66 | 10.34 |
Price/Earnings
NG.
IBE
PPL
Financial Strength
|
Metric
|
NG.
|
IBE
|
PPL
|
|---|---|---|---|
Quick Ratio | 0.64 | 0.60 | 0.81 |
Current Ratio | 0.91 | 0.77 | 1.28 |
Interest Coverage | 2.63 | 4.98 | 2.35 |
Quick Ratio
NG.
IBE
PPL
Profitability
|
Metric
|
NG.
|
IBE
|
PPL
|
|---|---|---|---|
Return on Assets (Normalized) | 3.03% | 4.79% | 3.18% |
Return on Equity (Normalized) | 9.72% | 14.40% | 8.81% |
Return on Invested Capital (Normalized) | 5.31% | 7.51% | 6.02% |
Return on Assets
NG.
IBE
PPL
Utilities - Regulated Electric Industry Comparables
|
1-Day Chart
|
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|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| NextEra Energy Inc
NEE
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| Southern Co
SO
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| Duke Energy Corp
DUK
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| PG&E Corp
PCG
| Gyjwyqnl | Crkzl | $48.2 Bil | |||
| American Electric Power Co Inc
AEP
| Lfyzxndnq | Sswpl | $46.5 Bil | |||
| National Grid PLC ADR
NGG
| Bpfzbdjwv | Qglm | $45.0 Bil | |||
| Dominion Energy Inc
D
| Cvclpscpw | Fwzxgk | $43.1 Bil | |||
| Public Service Enterprise Group Inc
PEG
| Gctwmql | Rzknbd | $36.3 Bil | |||
| Exelon Corp
EXC
| Xlrqbkjp | Qwfyygh | $36.2 Bil | |||
| Consolidated Edison Inc
ED
| Nwvdblggs | Tmv | $31.7 Bil |