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

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.

New high again today @965p.

Ex dividend tomorrow 14.71p

Credit Suisse Underperform 906.60 870.00 780.00 Downgrades

National Grid stops Q1 and Q3 Interim Management Statements

Citigroup Neutral 951.40 951.40 820.00 900.00 Reiterates

National Grid, Eversource get OK for huge transmission project

A partnership between National Grid (NYSE:NGG) and Eversource Energy has been selected by regional power grid manager ISO New England to build one of the largest electric transmission projects in recent New England history.

The proposal was chosen over another proposal presented by New Hampshire Transmission, a subsidiary of NextEra Energy (NYSE:NEE).

The winning plan, which is expected to cost $510M, calls for new overhead lines in existing rights of way through Massachusetts and southern New Hampshire, and new underground cables through Boston and other Massachusetts communities.

Notification of Major Interest http://www.moneyam.com/action/news/showArticle?id=4981773

Sanford Bernstein "outperform" (14/4), tp 1010p

Results for the year ended 31 March 2015

Steve Holliday, Chief Executive, said: "National Grid delivered another successful year. Overall, our businesses achieved a strong operating performance and we developed new strategic growth opportunities in transmission and interconnection. We invested around £3.5bn in essential infrastructure during another year of strong network reliability, safety and resilience. Effective regulation continues to drive efficient investment. In the UK, for example, savings generated in the first two years of the RIIO price controls will reduce future customer bills by around £200m."

Good operational and strategic progress led by efficiencies and investment
UK regulated: Ongoing benefit from 2013 restructuring, improved efficiency and incentive performance
· RIIO incentive performance contributed 270bp (2013/14: 180bp) to UK Return on Equity with pre-determined additional allowances contributing a further 90bp (2013/14: 80bp)
· Capital investment of £1.8bn with regulated asset value up 2% to £25.4bn.

US regulated: Profits maintained, supported by additional revenues from existing rate plans
· Return on Equity 8.4% (2013: 9.0%) reflecting increased rate base and additional winter costs
· Record capital investment of $2.4bn; $0.9bn total (7% underlying) growth in rate base to $17.2bn
· Completed financial systems upgrade and now preparing for important rate filings in 2015/16

New business activities: Good strategic progress with new investments approved
· €1.4bn planned investments approved for Norway and Belgium interconnector projects
· London property joint venture agreed; first site transfer expected during 2015/16
· Continued progress developing multiple US transmission investment opportunities

Strong overall financial performance maintaining robust financial position
· Group Return on Equity 11.8% (2013/14: 11.4%); Value Added1 of £1.7bn or 44.7p per share

· Adj. operating profit, excl. timing, up 5% to £3,927m (2013/14: £3,731m) at constant currency
· Adj. EPS, excl. timing, up 10% to 59.6p (2013/14: 54.4p)
· Strong balance sheet and cash flows; sustained financial metrics consistent with A- credit rating
· Recommended final dividend of 28.16p/share (2013/14: 27.54p); full year dividend up 2.0% to 42.87p (2013/14: 42.03p), in line with inflation and policy

more....

What a pioneering Target Price!

JP Morgan Cazenove Neutral 909.00 909.10 805.00 902.00 Reiterates

Chief executive Holliday set to stand down at National Grid

Jefferies International Buy 839.40 839.60 - 900.00 Initiates/Starts

Britain faces tightest winter power supplies in decade - National Grid

Confirmation of the CEO change http://www.moneyam.com/action/news/showArticle?id=5144884