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

£8.75 a good Target

New high @£8.03.

And back down again. Third time lucky?

816.50p touched.

824.50p. . 826P

What a strong run over the last three months.

New high today @835.50p.

Final results on Thursday 16th.

A bid for SVT today. I wonder what other high-yielding, rock-solid utility might be in line for a bid?

Morgan Stanley Overweight 847.00 847.00 775.00 880.00 Reiterates

Sell on the Final's news tomorrow? or maybe not in this rising market.

Results for the year ended 31 March 2013

Good financial results led by solid operational performance in 2012/13
· Operating profit[1] up 4% before currency movements, timing and major US storms[2]
· Profit before tax1 up 6%
· Earnings per share1 up 12% to 56.1p, up 13% excluding timing and major storm impacts
· Continued strong UK performance. Improved US regulated return on equity: up 40bp to 9.2%
· Recommended full year dividend up 4% to 40.85p in line with one year policy

Significant strategic and regulatory progress
· Agreed new eight year UK price controls covering nearly £24bn of regulated assets
· Finalised four US rate cases with two others settled, pending approval: covering approximately 55% of US rate base
· Capital investment of £3.7bn, contributing to £2.7bn growth in regulated assets
· Strong financial position: issued £2bn of very competitively priced hybrid bonds

Outlook for 2013/14
· Continued growth driven by efficient investment, strong operating cash flows and attractive returns
· New dividend policy to apply from 1 April 2013 - aim to grow the ordinary dividend at least in line with the rate of RPI inflation each year for the foreseeable future

National Grid says regulator deals provide platform for dividends

National Grid insisted it was well set to meet its target of delivering inflation-proofed dividend payments in the coming years after striking long-term deals with UK and US regulators....


National Grid Profit Rises as U.K. Growth Offsets U.S. Costs (1)

National Grid Plc (NG/), the operator of energy networks in the U.K. and North America, said fiscal full-year earnings rose 6 percent as growth in its British business countered costs from a hurricane that hit the U.S. in October.

Deutsche Bank Sell 830.25 600.00 600.00 Retains

Morgan Stanley Overweight 830.25 880.00 880.00 Reiterates

Back on the rise. Looks like Morgan Stanley has it over on Deutsche Bank - thankfully.

Another whatsit in the wood pile.

Exane BNP Paribas Neutral 0.00 780.00 780.00 Downgrades

Quite a drop today - sitting on the 50ma.

RBC Capital Markets Outperform 802.75 839.50 - 900.00 Reiterates

Not only down but on more then average volume, staying out for the moment until things clear.

Interesting comments from Citigroup this morning:
"In the past month, US 10yr treasury yields have risen from 1.7% to 2.2% on the back of improving economic sentiment and the potential for a reduction in Quantitative Easing in the US.
We have written on previous occasions about the sensitivity of National Grid’s share price to the movement in US treasury yields (Dividend Visibility Supportive and Yield Support Amid Regulatory and Macro Uncertainty) and this morning’s sharp move downward in the share price appears to reflect this. In our recent note Dividend Visibility Supportive, 12 April 2013, we argued that the implied cost of capital for National Grid, given the visible dividend policy, was low vs. history and the cost of capital allowed by the regulator.
Our target price of 820p (5% yield) implies a cost of equity of 7.5% which we indicated to be at the low end of the 7-10% range we discussed in our note. This appeared largely acceptable due to the nature of the macro environment and the search for yield as identified previously by our strategists.
With US macro data and sentiment improving, the sharp rise in US treasury yields in the past month, if sustained, could point to a cost of equity moving towards the higher end of the 7-10% range. We note a 9% nominal cost of equity (in line with allowed cost of equity from Ofgem), based on dividend growth of RPI on our forecasts, would imply a National Grid valuation of 640p.
US investors make up 40% of National Grid’s investor base and therefore a rise in US treasury yields will likely raise the required return on National Grid for those investors."

640p? Now that would be some drop.