Here it is, your all new National Grid thread. The chart features Bollinger Bands, MACD, 50 and 200 day SMAs.

Web Site Link:

http://www.nationalgrid.com/uk


Here's the link to the old NG. thread

Bounced right off support at 840 and now heading back to 900 and onwards. Technicals are excellent.

Breaking the 880p so expecting a new big figure shortly.

Still a bit crude...

skinny, works for me thanks!

A new high @901.50p

12 Sep 2014 National Grid PLC NG. RBC Capital Markets Sector Performer 903.25 903.50 925.00 925.00 Reiterates

Price now back to the top of your upper channel skinny. A bounce from here would be expected, but I suspect we will have to wait until the outcome of the Scottish referendum. We could be in for one heck of a relief rally if the Scots vote 'no'.

I was going to have a reasonable short on the FTSE, but now I suspect (hope) the Scots will vote no - in which case, I can see the FTSE taking out the all time high of 6,950.60.

We should hit 7000 at some point this year. I have set out my stall accordingly. It was 'brown trousers time' when the referendum was in doubt, but we should have a clear run if there is nothing else unforeseen coming along to derail it.

MS have upgraded the utilities.

Morgan Stanley Overweight 868.75 872.00 860.00 920.00 Reiterates

With reference to my post 122 - I had obviously not taken into account Ebola and IS! Clearly those two are having a major impact on National Grid's operations.

Lord Gnome - I've posted similar here and there - basically assuming that once the referendum was done and dusted, the markets would test the all time highs - hey ho!

National Grid warns of lower winter power capacity

Half Year results Friday 7th November.

916 previous high.

RBC Capital Markets Sector Performer 924.75 925.00 925.00 Reiterates

Half year report for the six months ended 30 September 2014


Steve Holliday, Chief Executive, said: "After the first six months of 2014/15 National Grid remains on track to deliver another year of strong overall returns and asset growth. We continue to provide good value and strong reliability for customers while keeping our element of bills as low as possible."

Positive first half performance
· Overall performance in the first six months in line with Group expectations for the full year
· UK: continued delivery of good operational performance and capital programme efficiencies
· US: strong growth and completion of major financial system upgrade balanced by increased gas mains repair costs following the exceptionally cold winter of 2013/14
· Interim dividend of 14.71p per share in line with policy

Financial results for continuing operations
· Adjusted operating profit1 2% higher at £1,611m
· Adjusted earnings per share1 16% higher at 23.4p principally due to lower financing costs

By John Ficenec, Questor Editor8:00PM GMT 08 Nov 2014 CommentsComment
National Grid
919p
Questor says HOLD
Low interest rates boost profits
The UK’s largest listed utility company, National Grid [LON:NG] (click highlighted text for fundamental analysis), continues to enjoy a favourable economic backdrop to its activities. Record low interest rates are reducing costs on its debt pile, while steady inflation allows it to push through price increases to customers. The company said that pre-tax profits had increased by 12pc to £1.18bn during the first six months ended September. The main driver of the profit performance was cheaper borrowing rates. The utility reported an effective interest rate of 4.5pc during the first half, down from 5.3pc at the same stage last year. That might not sound like much, but on a net debt pile of £21.7bn the savings are £114m.
Defensive earnings
National Grid has stable revenue as it owns and operates gas and electricity distribution networks in the UK and some parts of the US, and then charges for the use of those networks, which creates a natural monopoly. The industry is closely regulated in the UK by Ofgem. National Grid reached an agreement with the regulator last year which set the framework for returns during the next eight years. With a more stable regulatory outlook the company increased the interim dividend by 1.5pc to 14.71p, going ex-dividend on November 20, and paid on January 7. Annual dividends had been increasing by about 8pc a year; now they track retail price inflation at 2.9pc this year.
Asset-backed shares
The value of the gas and electricity network is important to shareholders as it supports the share price. National Grid said its total assets in the UK and the US increased in value by £1bn on six months ago, to more than £39bn at the end of September. It invested £1.58bn in new gas and electricity infrastructure during the first half of the year and expects to spend up to £3.3bn for the full year. With such a large asset base delivering steady revenue, National Grid can fund a large debt burden, resulting in total borrowings of £25.6bn and net debt of £21.7bn at the end of September. A big chunk of this debt, 57pc, is at fixed low interest rates, the rest is RPI linked.
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Shares at record highs
The last time Questor looked at National Grid we said investors should hold due to the favourable credit backdrop. The shares have increased more than 6pc since then and now trade on a price earnings ratio of 16.7 times, and offer a prospective dividend yield of 4.7pc guaranteed to rise with inflation. That leaves the shares at a slight premium to Centrica and SSE, on price/earnings ratios of 14.5 and 13.2 respectively, but they aren’t perfect comparisons. The shares are also at record highs and are overpriced when you consider the forecast earnings growth; as a guide, a utility should trade on around 12 times earnings. What you are getting here is surety of income, and for that reason we keep them as a hold.

New high @930.50p

New high @952p.