A director at National Grid sold 29,000 shares at 1,029p and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
National Grid group's S1 2023/2024 financial numbers at end September 2023 came in weaker than a year ago for the same period. However, this can be explained by positive non-recurring items in 2022/2023, such as property sales and insurance proceeds for fire damage, for instance. National Grid reported an operating profit of £1,985m, down 11% compared with S1 2022/2023. We estimate S1 2023/2024 EBITDA at £3,006m, down from £3,171m a year ago. Indebtedness was up due to higher capital expenditure...
Financial numbers for the full year ending 31 March 2023 presented by National Grid indicate a better performance. Credit metrics improved. The company's business model is driven by regulated activities. After the reorganization of the company, electricity transmission and distribution accounts for 75% of its cash flow generation and gas activities 25%. The high inflation environment is positive for the utility, with the UK regulatory framework allowing inflation indexation. In the United States...
Global Pullback Continues; Focus on Defensives In our previous Int'l Compass (March 2) we discussed how the pullback in global equities was in full swing as Europe (EURO STOXX 50, STOXX Europe 50, DAX, etc.) and the UK (FTSE 100) displayed 4.5-month uptrend breaks and were joining the pullback that had already started on the MSCI ACWI. At the time, we expected this pullback in the MSCI ACWI (ACWI-US) to move down to $86-87 at minimum, and potentially $84 (December 2022 low) or $75-77 (the 2022 ...
National Grid[de] reported its full year results 2021/2022 ending 31 March. Financial numbers presented by the company as well as our estimated credit metrics point to a satisfactory performance from a credit perspective. The last eighteen months have been full of events and the reorganisation of the business portfolio is still in progress. In March 2021, National Grid had a deal with the US-based utility PPL, leading to a new reporting structure. In March, National Grid announced the sale of 60...
The independent financial analyst theScreener just slightly lowered the general evaluation of NATIONAL GRID (GB), active in the Multiutilities industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of the analysis da...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Item 2: Final dividend The proposed increase in dividend raises several concerns: the dividend is neither covered by FCF nor by EPS. The increase in the dividend is not justified by the group's results. We do not consider sustainable the dividend distribution exceeding the earnings for several consecutive years. Given the recent events relating to Covid-19, ECGS is in favour of postponing decisions on the dividend, reductions or suspensions that would allow companies to avoid liquidity risks or...
Currently '(TM) Value Indicator - UK Utilities Sector' is a value analysis of the Telecoms & Utilities sectors of quoted companies on The London Stock Exchange's Main market that provides the user with indicative long-term target prices. The publication is also available on request at
Currently '(TM) Value Indicator - Main Market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on The London Stock Exchange's Main market that provides the user with indicative long-term trading indicators and indicative target prices. The publication is also available on request at
Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term tagrte prices.
Currently '(TM)Valule Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.
Currently '(TM)Value Idicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.
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