National Grid: RIIO-T3 Improvements Warrant a Narrow Economic Moat Rating
National Grid owns and operates energy networks in the UK and the Northeastern United States. The former accounts for around 60% of the profits, the latter for 40%.
National Grid PLC ADR NGG
Bulls Say, Bears Say
Bulls
National Grid has an enviable geographic footprint. The UK has the most favorable regulatory environment for energy networks in Western Europe, while US returns are higher than in most European countries.
Bears
The highly dilutive rights issue reflects poor capital allocation. The dividend rebase is a painful turning point for this former dividend aristocrat.
News
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National Grid Trims Executive Committee Ranks in Simplification Push
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National Grid to Invest $1.75 Billion in Joulent in U.S. Energy Push
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National Grid Ventures to invest $1.75bn to accelerate power solutions for U.S. data centers and AI
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National Grid Down Over 8%, on Pace for Largest Percent Decrease Since May 2024 — Data Talk
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Eversource Energy Reports Significant Power Outages in Eastern Massachusetts
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U.K. Approves $37 Billion in Funding for Energy Grid
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National Grid Says Performance in Line With Expectations
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National Grid to Sell LNG Terminal to Centrica Consortium in $2 Billion Deal — Update
Articles & Videos
Trading Information
- Previous Close Price
- $81.29
- Day Range
- $81.74–82.34
- 52-Week Range
- $67.53–94.64
- Bid/Ask
- $82.22 / $82.45
- Shares Outstanding
- 1.01B
- Market Cap
- $82.62B
- Volume/Avg
- 1M / 1M
Key Statistics
- Price/Earnings (Normalized)
- 17.79
- Price/Sales
- 3.41
- Dividend Yield (Trailing)
- 3.99%
- Dividend Yield (Forward)
- 3.99%
- Total Yield
- 3.99%
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 electricity networks in the United States, metering services and merchant transmission lines in the UK.
- Sector
- Utilities
- Industry
- Utilities - Regulated Electric
- Stock Style Box
- Large Core
- Total Number of Employees
- 33,026
- Website
- https://www.nationalgrid.com
Competitors
Valuation
|
Metric
|
NGG
|
ED
|
PPL
|
|---|---|---|---|
Price/Earnings (Normalized) | 17.79 | 18.82 | 19.43 |
Price/Book Value | 1.56 | 1.57 | 1.80 |
Price/Sales | 3.41 | 2.24 | 2.87 |
Price/Cash Flow | 11.30 | 7.89 | 9.77 |
Price/Earnings
NGG
ED
PPL
Financial Strength
|
Metric
|
NGG
|
ED
|
PPL
|
|---|---|---|---|
Quick Ratio | 0.65 | 0.75 | 0.57 |
Current Ratio | 0.76 | 1.19 | 0.91 |
Interest Coverage | 3.31 | 3.27 | 2.76 |
Quick Ratio
NGG
ED
PPL
Profitability
|
Metric
|
NGG
|
ED
|
PPL
|
|---|---|---|---|
Return on Assets (Normalized) | 3.63% | 2.80% | 3.09% |
Return on Equity (Normalized) | 10.13% | 8.38% | 9.40% |
Return on Invested Capital (Normalized) | 5.67% | 5.78% | 6.06% |
Return on Assets
NGG
ED
PPL
Utilities - Regulated Electric Industry Comparables
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United States