National Grid PLC ADR (NGG) Quote - XNYS | Morningstar

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National Grid Raises 2022 and Confirms Medium-Term Guidance; Shares Rich

Senior Equity Analyst Tancrede Fulop

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA | Nov 19, 2021

We don't expect to materially change our GBX 850 fair value estimate after no-moat National Grid released first-half results above consensus it polled, raised its fiscal 2022 guidance, and maintained its medium-term guidance. The shares look overvalued.

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Company Profile

Business Description

National Grid owns and operates the electric and gas transmission system in England and Wales. In 2019, it divested its U.K. natural gas distribution business. In the Northeastern United States, it serves 7.1 million electricity and gas customers combined in three states. It also owns regulated transmission and electricity generation in the United States, metering services, merchant transmission lines in the U.K., and the Grain (U.K.) liquefied natural gas facility.

Contact

1-3 Strand
London, WC2N 5EH, United Kingdom

T +44 2070043000

investor.relations@nationalgrid.com

www.nationalgrid.com

Sector Utilities

Industry Utilities - Regulated Electric

Most Recent Earnings Mar 31, 2008

Fiscal Year End Mar 31, 2022

Stock Type —

Employees 23,683

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