National Grid
NG.: 919.99 -0.05 (▼0.01%)
| Bid Price | 921.60 | High Price | 924.35 |
|---|---|---|---|
| Ask Price | 921.70 | Low Price | 906.80 |
| Open Price | 923.20 | Spread | 0.01% |
| Prev Close | 921.60 | Volume | 10,165,423.00 |
National Grid Share Price Chart
Intraday
Historic – 1 year
National Grid Share Price Information
| Name | National Grid | Epic | NG. |
|---|---|---|---|
| Sector | Gas, Water & Multiutilities | ISIN | GB00B08SNH34 |
| Activites | National Grid plc is an international electricity and gas company and one of the largest investor-owned energy companies in the world. National Grid owns the high-voltage electricity transmission network in England and Wales and operates the system across Great Britain. It also owns and operates the high pressure gas transmission system in Britain and its distribution business delivers gas to 11 million homes and businesses. In the US, National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New Hampshire, New York and Rhode Island, and manages the electricity network on Long Island under an agreement with the Long Island Power Authority (LIPA). National Grid owns over 4,000 megawatts of contracted electricity generation that provides power to over one million LIPA customers. It is the largest distributor of natural gas in the northeastern US, serving approximately 3.4 million customers in Massachusetts, New Hampshire, New York and Rhode Island. National Grid also has a number of related businesses such as Liquefied Natural Gas (LNG) importation and storage, land remediation and metering. | Security Type | Equity |
Key numbers
| Latest Share Price (p) | 921.65 | Net Gearing (%) | 76.77 |
|---|---|---|---|
| Market Cap (£m) | 34,474.56 | Gross Gearing (%) | 76.98 |
| Shares in issue (m) | 3,761.14 | Debt Ratio | 73.51 |
| P/E Ratio | 13.28 | Debt-to-Equity Ratio | 0.83 |
| Divs per share (p) | 43.34 | Assets / Equity Ratio | 4.35 |
| Dividend Yield (%) | 4.75 | Price to book value | 2.54 |
| Dividend Cover | 1.53 | SROCE (%) | 5.92 |
| Earning per share (p) | 69.00 | EPS Growth (%) | 28.73 |
| 52-week high / low (p) | 1,155.80 / 888.90 | DPS Growth (%) | 1.10 |
National Grid Broker Views
| Date | Broker | Rec. | Price | Old target price | New target price | Notes |
|---|---|---|---|---|---|---|
| 09 Dec | Beaufort Securities | Buy | 919.99 | Reiterates | ||
| 09 Dec | Deutsche Bank | Hold | 919.99 | Retains | ||
| 29 Nov | Goldman Sachs | Sell | 919.99 | 854.00 | Initiates/Starts | |
| 21 Nov | HSBC | Buy | 919.99 | 1185.00 | 1060.00 | Reiterates |
| 14 Nov | HSBC | Buy | 919.99 | 1185.00 | 1185.00 | Reiterates |
National Grid Director Deals
| Date | Director | Type | Volume / Price | Trade Value |
|---|---|---|---|---|
| 12 Sep 2016 | John Pettigrew | Buy | 15 @ 1063.81p | £159.57 |
| 12 Sep 2016 | Andrew Bonfield | Buy | 14 @ 1063.81p | £148.93 |
| 12 Aug 2016 | Sir Peter Gershon | Buy | 1656 @ 1068.25p | £17,690.22 |
| 12 Aug 2016 | Jonathan Dawson | Buy | 1062 @ 976.08p | £10,365.97 |
| 12 Aug 2016 | Andrew Bonfield | Buy | 31 @ 1068.25p | £331.16 |
| 12 Aug 2016 | John Pettigrew | Buy | 89 @ 1068.25p | £950.74 |
| 10 Aug 2016 | John Pettigrew | Buy | 14 @ 1060.54p | £148.48 |
| 10 Aug 2016 | Andrew Bonfield | Buy | 14 @ 1060.54p | £148.48 |
| 21 Jul 2016 | Andrew Bonfield | Sell | 67478 @ 1095.92p | £739,502.40 |
| 21 Jul 2016 | Andrew Bonfield | Transfer In | 142567 @ 0.00p | £0.00 |
| 17 Jun 2016 | Andrew Bonfield | Award | 33375 @ 0.00p | £0.00 |
| 17 Jun 2016 | Andrew Bonfield | Award | 123614 @ 0.00p | £0.00 |
| 17 Jun 2016 | John Pettigrew | Award | 13739 @ 0.00p | £0.00 |
| 16 Jun 2016 | Steven Holliday | Transfer In | 30083 @ 0.00p | £0.00 |
| 16 Jun 2016 | Andrew Bonfield | Transfer In | 24072 @ 0.00p | £0.00 |
| 16 Jun 2016 | John Pettigrew | Transfer In | 7546 @ 0.00p | £0.00 |
National Grid Company News
Draghi lifts FTSE 100
The FTSE 100 was in positive territory, boosted by an extended stimulus package from the European Central Bank.
Royal Bank of Scotland (RBS) and Barclays (BARC) advanced by up to 1.8%.
Miners Glencore (GLEN) and Rio Tinto (RIO) also supported the blue chip index with gains of around 2%.
West Texas Intermediate and Brent crude oil slid 0.9% higher to $50.26 and $53.48 per barrel, respectively.
Gold stumbled 0.4% to $1,169 and copper backtracked 0.8% to $5,776 per tonne.
FTSE 100 RISERS AND FALLERS
Outsourcing company Capita (CPI) issued a second profit warning in three months, which it blamed on uncertainty after the Brexit vote. It announced plans to sell its asset services business to protect its balance sheet.
Shares in utility multinational National Grid (NG.) sparked 3% after agreeing to sell a majority interest in its gas distribution division to a consortium of long-term infrastructure investors. The deal valued the asset at £13.8bn (including debt) and will see £4bn returned to shareholders.
Glencore (GLEN) and shareholder Qatar Investment Authority confirmed they will jointly invest approximately €10bn for a 19.5% stake in oil company Rosneft.
FTSE 250 RISERS AND FALLERS
Sports retailer Sports Direct (SPD) declined 8.3% to 288.8p on a 25% fall in first half pre-tax profit to £140m, mainly as a result of unhedged exposure to sterling weakness.
Chairman Keith Hellawell launched a tirade against the media, unions and politicians for launching a ‘campaign’ against the firm, which has been heavily criticised for its working practices.
Bookies William Hill (WMH) and Ladbrokes Coral (LCL) were both in the red amid reports that a parliamentary committee will recommend a crackdown on the use of fixed-odds betting terminals.
Shares in online grocer Ocado (OCDO) were stale at 262.6p as fourth quarter sales growth dipped.
Investors were impressed by packaging firm DS Smith’s (SMDS) latest results after reporting a 60% increase in first half pre-tax profit to £146m and a 15% hike in the dividend to 4.6p.
SMALL CAP RISERS AND FALLERS
Shares in software company ServicePower Technologies (SVR) jumped by 35.7% to 5.6p on confirmation of a recommended 6p a share cash offer from suitor Diversis.
Unresolved disputes with Logiman hit Weatherly International’s (WTI) share price after the company reduced its stake from 11.4% to 9.6%. As the holding fell below 10%, Krzysztof Szymczak resigned as director of the company with immediate effect.
South East Asia data centre facilities provider CSF (CSFG) crashed by 14.7% to 0.81p as operating profit more than halved from RM5,234,000 to RM1,933.
Lloyd’s of London insurer Novae (NVA) slumped 24.4% to 631p as it warned of a hit to its underwriting operations from larger individual risk and catastrophe losses. It also suffered a hit to the value of its fixed-income portfolio and a £17m writedown due to a change in its accounting for deferred acquisition costs.
Social care provider Caretech (CTH) gained 4.8% on full year revenue increasing by a fifth and a hike in the dividend.
Ceramic brake disc developer Surface Transforms (SCE) fell 7.4% to 22p as it blames increased overheads for a guided year-on-year increase in losses.
Oil and gas producer Nostra Terra (NTOG) positively surprised investors with an increase of $600,000 in the price tag of its Chisholm Trail Prospect, sold for an initially agreed $2.1m. Shares in the company jumped 18.2% to 1.7p.
RedT Energy (RED) raised £12m through a discounted shares placing, which will be used for capital expenditure, operating costs and working capital.
Story provided by StockMarketWire.com
Miners provide FTSE support
The FTSE 100 was flat at 6,914 on gains from media stocks and miners.
Sky (SKY) and ITV (ITV) were the biggest risers with a 2.5% rally, while Glencore (GLEN), Rio Tinto (RIO) and BHP Billiton (BLT) made smaller gains of over 1.5%.
West Texas Intermediate and Brent crude oil rose 1% to $50.24 and $53.55, respectively.
Gold was stable at $1,175 per ounce and copper was 1% lower at $5,754 per tonne.
FTSE 100 RISERS AND FALLERS
Outsourcing company Capita (CPI) issued a second profit warning in three months, which it blamed on uncertainty after the Brexit vote, and announced plans to sell its asset services business to protect its balance sheet.
Underlying pre-tax profit is predicted to be at least £515m against previously lowered guidance of £535m to £555m with little recovery expected in 2017.
Utility multinational National Grid (NG.) agreed to sell a majority interest in its gas distribution division to a consortium of long-term infrastructure investors. The deal valued the asset at £13.8bn (including debt) and will see £4bn returned to shareholders.
Glencore (GLEN) and shareholder Qatar Investment Authority confirmed it will jointly invest approximately €10bn for a 19.5% stake in oil company Rosneft.
FTSE 250 RISERS AND FALLERS
Sports retailer Sports Direct (SPD) declined 7.6% to 290.8p on a 25% fall in first half pre-tax profit to £140m, mainly as a result of unhedged exposure to sterling weakness.
Chairman Keith Hellawell launched a tirade against the media, unions and politicians for launching a ‘campaign’ against the firm, which has been heavily criticised for its working practices.
Bookies William Hill (WMH) and Ladbrokes Coral (LCL) were both in the red amid reports that a parliamentary committee will recommend a crackdown on the use of fixed-odds betting terminals.
Shares in online grocer Ocado (OCDO) were stale at 270p as fourth quarter sales growth dipped.
Investors were impressed by packaging firm DS Smith’s (SMDS) latest results after reporting a 60% increase in first half pre-tax profit to £146m and a 15% hike in the dividend to 4.6p.
SMALL CAP RISERS AND FALLERS
Shares in software company ServicePower Technologies (SVR) jumped by over a third to 5.5p on confirmation of a recommended 6p a share cash offer from suitor Diversis.
Unresolved disputes with Logiman hit Weatherly International’s (WTI) share price after the company reduced its stake from 11.4% to 9.6%. As the holding fell below 10%, Krzysztof Szymczak resigned as director of the company with immediate effect.
South East Asia data centre facilities provider CSF (CSFG) crashed by 14.7% to 0.81p as operating profit more than halved from RM5,234,000 to RM1,933.
Housebuilder MJ Gleeson (GLE) warned that the timing of sales in its Strategic Land division will see results in the first six months of its current financial year slightly below the first half of the previous year.
Lloyd’s of London insurer Novae (NVA) slumped 19% to 675p as it warned of a hit to its underwriting operations from larger individual risk and catastrophe losses. It also suffered a hit to the value of its fixed-income portfolio and a £17m writedown due to a change in its accounting for deferred acquisition costs.
Social care provider Caretech (CTH) gained 4.8% on full year revenue increasing by a fifth and a hike in the dividend.
Ceramic brake disc developer Surface Transforms (SCE) fell 7.6% to 22p as it blames increased overheads for a guided year-on-year increase in losses.
Resorts investor Dolphin Capital (DCI) disposed the Playa Grande Golf and Resort project to a joint venture for €140 million.
Pressure Technologies (PRES) acquired UK-based engineering business Martract and the stock gained 6.7%.
Digital entertainment solutions provider Amino Technologies (AMO) said it expected to report revenue and profit marginally ahead of revised market expectations.
Oil and gas producer Nostra Terra (NTOG) positively surprised investors with an increase of $600,000 in the price tag of its Chisholm Trail Prospect, sold for an initially agreed $2.1m. Shares in the company catapulted 30% to 1.85p.
RedT Energy (RED) raised £12m through a discounted shares placing, which will be used for capital expenditure, operating costs and working capital.
Story provided by StockMarketWire.com
FTSE up on financials, property, utilities amid ex-divs
London stocks were firming in early deals, albeit under the shadow of multiple FTSE 350 ex-dividends, with blue-chip commercial property, utilities and financials enjoying notable gains.
Schroders (SDR) led the pack and financials as it gained 2.39% to 2957p, with London Stock Exchange (LSE) improving 1.66% to 2731.5p. Hargreaves Lansdown (HL.) added 1.45% to 1227.5p.
US rates-sensitive utilities were broadly higher, too. Severn Trent (SVT) added 1.29% to 2113p.
National Grid (NG.), up 1.2% to 920.4p, is selling a 61% equity stake in UK gas distribution business (NGGD) to a consortium of long-term infrastructure investors. It flagged a return of £4bn net proceeds to shareholders.
Among commercial property, Hammerson (HMS) rose 1.43% to 550.25p, with Land Securities (LAND) adding 1.35% to 1010.5p.
Other sectors higher included supermarkets and banks.
Soon after the open, FTSE 100 was up 12.77 points, or 0.19%, to 6915.00, while FTSE 250 was up 62.22, or 0.35%, to 17,687.8.
Capita (CPI) led to the downside with a fall of 8.16% to 518p. It said it intended to dispose of the majority of the Capita Asset Services division and a small number of other businesses that no longer fit its core business strategy.
It was followed by several miners, among them Randgold (RRS), off 1.72% to 5847.5p, and Anglo American (AAL), lower 1.56% to 1232.5p, and BHP Billiton (BLT), down 0.62% to 1353.5p.
Glencore (GLEN), up 1.01% to 299.75p, has confirmed it is in final-stage negotiations regarding a transaction involving the acquisition, as part of a consortium with the Qatar Investment Authority, of a 19.5% interest in Rosneft for €10.2bn.
Polymetal International (POLY), up 0.53% to 758p, said that, on Dec. 7, its directors approved a special dividend of $0.15 a share for the year ended Dec. 31, 2016. In total, the special dividend amounts to about $64m.
At about 8.34am, gold was down 0.07% to $1176.7/oz, while silver and copper prices ebbed. Three-month industrial metals prices were mostly heavily lower.
WTI crude was down 0.02% to $49.76/bbl and Brent was flat at $53.00/bbl. Oil majors Shell (RDSA) and BP (BP.) were lower.
OTHER BLUE-CHIP NEWS
RELX PLC (REL), up 0.98% to 1346p, and RELX N.V. said following the conclusion of their £700m share buyback programme in 2016, they will implement an irrevocable, non-discretionary programme to repurchase their respective ordinary shares up to the value of £100m between Jan. 1, 2017, and Feb. 20, 2017.
TUI AG (TUI) has booked a an improved FY profit and is trading in line with expectations over the winter 2016/2017 and summer 2017. EBITA improved to €898m, up 13.0% from €795m a year ago. Turnover was down 1.9% to €17.19bn, from €17.52bn.
BIGGER MOVERS
ServicePower (SVR), up 33.33% to 5.5p, has recommended a cash offer by Diversis Capital UK Ltd at 6p a share, valuing its share capital at about £13.65m.
Nostra Terra (NTOG), up 26.32% to 1.8p, announces an increase of $600,000 cash for the sale of its interest in the Chisholm Trail Prospect, which was initially announced in June 2016.
Novae Group (NVA) fell 15.48% to 705.75p as it said that while its attritional loss ratio remains steady despite rating pressures, the impact of larger individual risk losses means that FY underwriting contribution is likely to be lower than its prior views.
LONDON HIGHLIGHTS
Surface Transforms (SCE) fell 11.58% to 21p as it said that while FY sales and gross margin percentages are seen broadly similar on the year, higher overheads reflecting additional costs of the new larger site, and R&D costs are seen to mean that losses will be higher than the prior year, but within the range of broker expectations.
Lekoil (LEK), down 8.15% to 23.88p, said oil is flowing at the Otakikpo marginal field to onshore storage tanks. EU Supply (EUSP), up 6.82% to 11.75p, has signed an agreement for distribution of services using its CTM platform with T-Systems Multimedia Solutions GmbH.
ValiRx (VAL), up 5.77% to 6.88p, said a patent (Anti-Androgen Peptides and Uses Thereof in Cancer Therapy) covering its lead therapeutic compound VAL201 has been granted by the European Patent Office.
Pressure Technologies (PRES), up 5.45% to 145p, has acquired the entire issued share capital of UK-based Martract Ltd, a profitable, cash-generative engineering business that specialises primarily in the grinding and lapping of ball and seat assemblies and gate valves.
Sports Direct International (SPD), down 4.94% to 299.35p, has booked a 25.1% tumble in reported H1 pretax profit to £140.2m, from £187.3m, after a tough first six months of its financial year. Gross margin contraction was due to sterling’s post Brexit vote devalution.
CareTech (CTH), up 4.98% to 305.5p, said its revenues rose 19.9% to £149.0m in the year to the end of September. Underlying pretax profit rose 18.6% to £26.1m.
MJ Gleeson (GLE), down 4.8% to 555p, said while the timing of sales in its Strategic Land division mean H1 group results will be slightly down on the year, directors remain confident that FY results will be in line with expectations.
DS Smith (SMDS), up 3.3% to 409.05p, has hiked its H1 pretax profit by 60% to £146m, with revenue up 21% to £2.36bn. Interim dividend was up 15% to 4.6p a share. “This half year has been another period of consistent delivery across the whole business.”
Ocado (OCDO), down 2.93% to 269.55p, said its FY gross retail sales rose 13.6% to £1.27bn, from £1.12bn. Q4 gross retail sales rose 13.1% to £398.1m, from £351.8m. In Q4, average orders/week rose 17.6% to 241,000, from 205,000. Average order size was £105.61, from £108.71.
Other stocks in the news included Inmarsat (ISAT), Polar Capital (POLR), Dolphin Capital Investors (DCI), Tritax Big Box REIT (BBOX), Independent Oil & Gas (IOG), SigmaRoc (SRC), Green Dragon Gas (GDG), Amino Technologies (AMO), Anglo African Agriculture (AAAP), Mulberry (MUL) and African Potash (AFPO).
Story provided by StockMarketWire.com
National Grid deal
National Grid has agreed to sell a 61% equity interest in its UK gas distribution business (NGGD) to a consortium of long-term infrastructure investors. It flagged a return of £4bn net proceeds to shareholders.
The Consortium comprises Macquarie Infrastructure and Real Assets (MIRA), Allianz Capital Partners, Hermes Investment Management, CIC Capital Corporation, Qatar Investment Authority, Dalmore Capital and Amber Infrastructure Limited/International Public Partnerships.
The terms of the Transaction imply an enterprise value for NGGD of approximately £13.8bn.
In consideration for the sale of its equity interest, on completion National Grid will receive a payment of £3.6bn in cash from the Consortium (subject to certain completion adjustments) and will own a 39% minority equity interest in a new holding company for NGGD (GasD HoldCo).
In addition, National Grid will receive £1.8bn from additional debt financing.
National Grid said it intends to return £4 billion of net proceeds to shareholders through the combination of a special dividend (together with a share consolidation) and share buy-backs.
At least 75% of the net proceeds are expected to be returned via a special dividend in Q2 of calendar year 2017.
Net proceeds were calculated after retaining £0.7bn of the additional debt financing, in order to maintain the equity value of our 39% interest in NGGD, and after deduction of costs of around £0.5bn.
A further announcement regarding the nature and timing of the capital return will be made in due course.
Completion of the Transaction is conditional on the receipt of merger clearance from the European Commission. Subject to satisfaction of this condition, National Grid expects that the Transaction will complete on or prior to 31 March 2017.
National Grid and the Consortium also expressed an interest in relation to the potential future sale and purchase of an additional 14% of equity in GasD HoldCo on broadly equivalent financial terms to the Transaction. Further details will be announced if agreement is reached.
In conjunction with the transaction the Board agreed a voluntary distribution of £150 million for the benefit of energy consumers. Story provided by StockMarketWire.com
FLASH: National Grid sells majority stake in NG Gas Distribution
Story provided by StockMarketWire.com
