John Pettigrew: National Grid chief on why the public must not block the charge to net zero National Grid

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Both of those estimates were below consensus expectations, with analysts polled by FactSet anticipating revenue at $11.8 million and adjusted EBITDA at $45.4 million. Tech stock Keysight advanced more than 7% after the bell on the back of a strong quarterly earnings report and guidance for the current quarter. Shares of Western Alliance jumped about 7% in extended trading after the bank said that its deposit growth for the current quarter surpassed $2 billion as of May 12. The pan-European Stoxx 600 index was down 0.2% at the start of the session, with most sectors and major bourses trading in negative territory.

To be sure, that revenue figure, along with the company’s earnings per share, exceeded analyst expectations. National Grid is a £42bn FTSE 100 company that operates Britain’s power infrastructure, and its assets are split roughly equally on both sides of the Atlantic. In an indicator of its low-carbon direction, 70% of its assets are in electricity, and 30% in gas. The Company, doing business as National Grid, provides electricity service to approximately 1.6 million customers and natural gas service to approximately 565,000 customers in upstate New York.

This Undervalued Utility Is Buying Back Its Shares at Good Prices

House Speaker Kevin McCarthy said that a “better process” is now in place for further talks, saying it’s “possible to get a deal by the end of the week.” As a child growing up in a village at the edge of the Welsh valleys outside Cardiff, John Pettigrew was nagged by his parents to switch the lights off whenever he left a room. Now, he’s part of a national effort to slash Britain’s energy use in the face of bills sent soaring by Russia’s invasion of Ukraine and resulting concerns about gas and electricity supplies. Macquarie owns a string of UK infrastructure assets including the gas network Cadent, Glasgow and Southampton airports, and several windfarm projects along the east and north-west coasts of England.

The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts. Revenue also beat expectations at $111 million compared with a $110.1 million forecast. Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion. Target traded more than 2% lower in the premarket after the retailer reported total revenue of $25.32 billion for the first quarter, which represented year-over-year growth of just 1%.

Todd Asset Management LLC Decreases Stock Position in National … – MarketBeat

Todd Asset Management LLC Decreases Stock Position in National ….

Posted: Thu, 20 Apr 2023 07:00:00 GMT [source]

You can find your newly purchased NGG stock in your portfolio—alongside the rest of your stocks, ETFs, crypto, treasuries, and alternative assets. Overall market sentiment has been high on National Grid plc (NGG) stock lately. NGG receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator. The company is scheduled to release its next quarterly earnings announcement on Thursday, May 18th 2023.

Get this delivered to your inbox, and more info about our products and services. National Grid PLC (NG.LN) said Thursday that its fiscal 2018 pretax profit rose 24% and that it expects its U.S. business to continue performing well while the U.K. Energy regulator Ofgem said Tuesday that it has launched an investigation into the Aug. 9 power cuts that brought large parts of the U.K. The regulator said that it will investigate whether the partie… National Grid PLC said Thursday that it has not had any material hit from the coronavirus pandemic to date, although its capital program has had some delays and disruption. Government Monday published its energy white paper with plans to decarbonize the country’s energy system.

More About National Grid plc

Energy regulator Ofgem’s new price-control and investment plans. The regulator’s proposals include a five-year investment of around 25 billio… One share of NGG stock can currently be purchased for approximately $72.84. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

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The security pass on a blue lanyard around his neck bears a faded picture of his younger self, smiling and with fewer grey hairs. His three decades at the monopoly have included roles in engineering and operations and a period in the US, where National Grid has 20 million customers. Pettigrew has just ridden out a tense winter, marked by people having to choose between heating and eating and talk of power cuts. Last autumn, National Grid voiced concerns that Britons could experience blackouts as well as wallet-busting bills during the coldest months. The preferred stock dividends are payable on June 30, 2023, to holders of record on June 16, 2023. The Competition and Markets Authority looked into the consortium’s initial investment because of its ownership of Cadent, but it did not find the deal would weaken competition.

“While McCarthy said a deal is possible by end of this week, the timeline may be by the end of next week ahead of the Memorial Day,” JPMorgan traders wrote. “With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.” Disappointing quarterly revenue and a lower forecast for full-year performance from Dow member Home Depot also soured investor sentiment in Tuesday’s session.

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His Hulbert Ratings service tracks investment newsletters that pay a flat fee to be audited. The 10-year Treasury yield actually declined after U.S. government’s credit-rating downgrade in 2011. For the full fiscal year, the company said to expect between $500 million and $506 million in revenue, a range that contains the Wall Street estimate of $501.8 million. The company expects adjusted EBITDA for the year to come in between $216 million and $222 million, while analysts anticipate $215.7 million. The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday. Concerns over the potential of default weighed on investors in Tuesday’s regular session.

Janney Montgomery Scott LLC Boosts Stock Holdings in National … – MarketBeat

Janney Montgomery Scott LLC Boosts Stock Holdings in National ….

Posted: Tue, 25 Apr 2023 07:00:00 GMT [source]

The British government, which has pledged to achieve net-zero carbon emissions by 2050, said this strategy … You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Sign-up to receive the latest news and ratings for National Grid and its competitors with MarketBeat’s FREE daily newsletter. © Market data provided is at least 15-minutes delayed and hosted by Barchart Solutions. Dividend capture strategy is based on NGG’s historical data.

Morningstar‘s Stock Analysis NGG

Target shares are slightly lower, after the retailer said sales growth stalled and profit fell in the most recent quarter. Cisco Systems will report earnings later Wednesday, while data on housing starts and building permits will provide insight into the health of the U.S. housing market. For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96. Keysight guided revenue for the quarter to come in between $1.37 billion and $1.39 billion, a range that contains Wall Street’s consensus estimate of $1.38 billion. Keep in mind that other fees such as regulatory fees, Premium subscription fees, commissions on trades during extended trading hours, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Open to the Public Investing’s Fee Schedule to learn more.

  • Government Monday published its energy white paper with plans to decarbonize the country’s energy system.
  • The spring weather may be taking its time to arrive, but Pettigrew is already turning his mind to next winter, with plans afoot to expand the flexibility service.
  • The utility’s stock yields a tempting 5.9% and its U.S. and U.K.
  • The Dow ended the trading session below a key threshold on Tuesday.
  • His desk at National Grid’s grandiose London headquarters overlooks Trafalgar Square.

Build conviction from in-depth coverage of the best dividend stocks. Their rationale is that the transportation sector is a good leading indicator of the stock market. Stock futures are ticking higher, suggesting major indexes could recover slightly after falling Tuesday on worries about a potential debt-ceiling default. Meanwhile, regional bank shares are jumping, on track to extend a recent stretch of high volatility. Western Alliance shares have been on a recent upswing, up 17% over the past week – and posting a gain of 15% since this week has begun. The stock is still down nearly 47% for the year, however.

He faces a battle, with some communities – such as those opposing onshore connections to wind projects in East Anglia – resisting the upheaval of major infrastructure projects. His desk at National Grid’s grandiose London headquarters overlooks Trafalgar Square. In the distance, down the Mall, we can see marquees being erected in preparation for next weekend’s coronation festivities, as Britain formally enters a new royal era. And Pettigrew, too, is planning his own new chapter for the country – albeit with a tad less pomp and ceremony. Never before has the business of energy, and keeping lights on and homes warm, been as critical, and this previously staid business has been thrust into the public eye.

LONDON–(BUSINESS WIRE)–Quinbrook Infrastructure Partners (“Quinbrook”), a specialist investment manager focused exclusively on the investment needed to deliver the energy transition, announced tod… Although circumstances earlier in the week beginning Dec. 11 implied a brighter-than-expected future for the economy, a harsh reality check now amplifies the narrative for the top utility stock picks … Another Dow Theory newsletter is Dow Theory Forecasts. Richard Moroney, editor and director of research, argues that the Dow Theory is currently bearish. Some elaborate market timing systems key off divergences between these two averages. Though the specific rules of how to apply the Dow Theory are beyond the scope of this column, I note that Dow theorists interpret the rules differently.

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Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. National Grid’s stock was trading at $60.32 at the beginning of the year. Since then, NGG shares have increased by 20.8% and is now trading at $72.84.

  • Though the specific rules of how to apply the Dow Theory are beyond the scope of this column, I note that Dow theorists interpret the rules differently.
  • Maintaining independence and editorial freedom is essential to our mission of empowering investor success.
  • Stock futures rose Wednesday as investors awaited news of developments in the negotiations between congressional leaders and President Joe Biden on the U.S. debt ceiling.
  • Health care modestly bucked the trend with a 0.1% uptick.

Indexes in China fell, while Japan’s Nikkei 225 gained 0.8% to top for the first time since 2021. The WSJ Dollar Index gained 0.2%, on pace to finish higher for the sixth session in the last eight trading days. The Dow ended the trading session below a key threshold on Tuesday. Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. A look under the hood in stocks continues to build on the bear case, according to Wolfe Research.

They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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