National Grid (ADR) (NGG)
Operates regulated electricity and gas networks across Britain and the northeastern United States.
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Operates regulated electricity transmission and distribution networks in Britain and electricity and gas networks in New York and New England. Revenue and investment are shaped by UK price controls, US rate cases and federal oversight, while National Grid Ventures holds businesses outside the four regulated network segments.
Operates regulated electricity transmission and distribution networks in Britain and electricity and gas networks in New York and New England. UK Electricity Transmission, UK Electricity Distribution, New York and New England form the regulated core; National Grid Ventures holds businesses outside it.
Execution centers on maintaining reliable networks, adding capacity and modernising long-lived infrastructure. The portfolio has shifted toward electricity through the Western Power Distribution acquisition and sales of Narragansett Electric and most of UK Gas Transmission and Metering.
Allowed revenues, returns, investment allowances and performance incentives are set by Ofgem price controls, state rate cases and federal oversight. Results therefore depend on regulatory approvals, delivery against funded programmes, operational safety and network reliability.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Mar 18, 2026 | Jefferies | Downgrade | ||
| Mar 16, 2026 | UBS | Downgrade | ||
| Dec 11, 2025 | National Bank | Target | Target: — | Target: $85.50 |
| May 6, 2025 | Citigroup | Downgrade | ||
| Apr 29, 2025 | UBS | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Mar 31, 2026Cash & short-term investments $3.77B · Total debt $62.30B · Total assets $144.28B · Shareholders' equity $52.36B
- Revenue
- $14.37B
- Operating income
- $5.61B
- Net income
- $3.55B
Reported in GBP, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | ≈ 6.16% | 64.09M ADS | |
|---|---|---|---|
| 637 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 93.84% | 975.70M ADS | |
| remainder | |||
1.04B ADS (1 ADS = 5 ordinary shares) as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Bank of America Corp /DE/Institution | 0.46% | 4.81M ADS | as of Jun 30, 2026 |
FMR LLCInstitution | 0.45% | 4.73M ADS | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 0.36% | 3.71M ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 0.34% | 3.58M ADS | as of Jun 30, 2026 |
Natixis Advisors, L.P.Institution | 0.24% | 2.44M ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Consolidated Edison
New York peer in regulated electric, gas, and transmission networks
- Eversource Energy
New England peer in electric transmission and utility delivery
- Fortis
North American peer in New York utilities and transmission grids
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| National Grid (ADR) | $76.84 | +0.21% | $77.09B | 17.4 | — | 3.2 | +1.8% |
| Consolidated Edison | $104.35 | +0.47% | $38.28B | 17.1 | 16.7 | 2.2 | +13.2% |
| Eversource Energy | $66.77 | −0.18% | $25.16B | 17.3 | 14.2 | 1.8 | +2.3% |
| Fortis | $54.06 | +0.84% | $27.29B | 23.7 | 22.0 | 3.1 | −0.2% |
| Median | 17.3 | 16.7 | 2.2 | +2.3% |