|Bid||805.60 x N/A|
|Ask||805.90 x N/A|
|Day's Range||797.50 - 816.70|
|52 Week Range||744.50 - 892.00|
|Beta (3Y Monthly)||0.97|
|PE Ratio (TTM)||18.11|
|Forward Dividend & Yield||0.47 (5.56%)|
|1y Target Est||912.93|
British utility stocks are trading at a growing discount to euro zone peers as investors fear the country's deepening political crisis could trigger a general election that ushers in renationalisation of the industry, worth $76 billion (£59.9 billion). The opposition Labour Party has said it wants to nationalise energy and water infrastructure if it can oust Prime Minister Theresa May's Conservatives from power, reversing decades of pro-privatisation policies. Simon Webber, lead portfolio manager on the global and international equities team at Schroders said those fears were "another overhang" for utilities, already subject to a discount like other UK assets because of Brexit uncertainty.
British gas network company Cadent has paid a record penalty of 44 million pounds for failing to properly supply gas to some customers, regulator Ofgem said on Wednesday. The penalty, which will see Cadent pay 24 million pounds for improvements and compensation and set up a 20 million pound community fund, comes a week after Britain's opposition Labour party set out plans to nationalise the sector if it comes into power. Cadent Gas generated an operating profit of 724 million pounds in 2018.
Plans by Britain's opposition Labour Party to nationalise utilities including the country's electricity grid will damage investment as well as hurting many small shareholders, one of the country's main business groups warned on Tuesday. Last week, Labour published plans to renationalise the country's 60-billion-pound energy networks, taking companies such as National Grid, Scottish Power and SSE into public ownership. Utilities warned this would damage investment, and on Tuesday the Confederation of British Industry's president, John Allan, said he feared the impact would spread beyond the businesses directly affected.
Britain's opposition Labour Party wants to nationalise energy and water infrastructure if it can oust Prime Minister Theresa May's ruling Conservatives from power, reversing decades of pro-privatisation public policy. Despite a national election not being due until 2022, the prospect of nationalisation is worrying investors. Analysts have valued the regulated asset values of water and energy networks potentially facing nationalisation at around 125 billion pounds.
With the Labour Party proposing the nationalization of electricity and gas infrastructure, U.K. politics could pose a threat to National Grid's operations.
National Grid Plc said on Friday it will not process new applications for natural gas service in its New York City and Long Island service area until Williams Cos Inc's Northeast Supply Enhancement (NESE) pipeline receives the permits it needs to proceed. On Wednesday, the New York Department of Environmental Conservation (DEC) denied Williams' application for water quality certification, a permit the $1 billion NESE needs, because the project could harm aquatic life.
National Grid Plc, the U.K. gas and power network operator borne from Margaret Thatcher’s privatization drive in the 1980s, offers the same services in the densely populated area spanning New York, Massachusetts and Rhode Island. The U.S. now accounts for most of the London-based utility’s revenue and it gets the biggest share of investment. National Grid’s shifting center will come as cold comfort to a company that now has to deal with the threat of nationalization should Britain’s opposition Labour Party win the next U.K. general election.
By Muvija M and Yadarisa Shabong (Reuters) - Rallying banks and mining stocks lifted Britain's FTSE 100 on Thursday, but weak earnings hit luxury brand Burberry (BRBY.L) and Thomas Cook (TCG.L) was floored ...
Britain’s National Grid has warned there would be “significant” legal challenges if a future Labour government were to renationalise UK electricity and gas networks at below market value. John Pettigrew, ...
Key InsightsEven if Labour does get in to power, such a plan isn’t seen to have wide political support, while state ownership could be complicated as more than half of the utility’s revenue comes from U.S. assets. It has put the high-voltage lines at the heart of its growth strategy and is continuing with projects that are already underway, amounting to a 2 billion-pound ($2.6 billion) investment in cables to France, Norway and Denmark.National Grid said it expected energy regulator Ofgem to publish on May 23 its latest consultation on proposed gas and power grid price-control levels for 2021.
"The proposals that Labour have set are very complex and from our perspective would be a massive distraction for the industry and would certainly slow down the progress in terms of things like infrastructure investments," Chief Executive John Pettigrew told Reuters on Thursday. Labour's nationalisation plan has prompted infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy.
The FTSE 100 advanced 0.8% and outperformed its European peers. The FTSE 250 was roughly flat. Markets were initially upbeat after U.S. President Donald Trump said talks between Beijing and Washington had not collapsed, terming the Sino-U.S. conflict as "a little squabble".
Britain's opposition Labour Party intends to take energy networks back into state ownership if elected, prompting infrastructure owners to warn of damage to investment, high taxpayer costs and a slower transition to green energy. Labour's shadow business and energy secretary, Rebecca Long-Bailey, late on Tuesday published party plans via twitter to renationalise the country's 60-billion-pound energy networks and establish a National Energy Agency. Britain's energy infrastructure, such as gas pipes and electricity cables, is owned by several firms including SSE, National Grid and Iberdrola's Scottish Power.
SSE Plc to National Grid Plc led the decliners in London trading, and EON SE, a German utility with a presence in the U.K. also fell. The report in the Daily Telegraph said Labour would pay pension funds in government bonds to take into public ownership the power transmission arms of SSE, National Grid and Scottish Power, a unit of Iberdrola SA. Labour’s intention to renationalize the nation’s power and natural gas network is a central plank of the party’s agenda under Jeremy Corbyn, who took over as leader in 2015.
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Britain, the birth place of coal power, has gone seven days without electricity from coal-fired stations for the first time since its 19th century industrial revolution, the country's power grid operator said on Wednesday. Britain was home to the world's first coal-fuelled power plant in the 1880s, and coal was its dominant electric source and a major economic driver for the next century.
Williams Cos Inc said on Monday it still needs water certifications from New York and New Jersey before it can start building the Northeast Supply Enhancement (NESE) natural gas pipeline from Pennsylvania to New York. Williams said it could start building NESE, which is estimated to cost about $1 billion, in the autumn of 2019 after it receives regulatory approvals. Williams said statutory deadlines to issue the water quality certifications are May 15 for the New York Department of Environmental Conservation and June 20 for the New Jersey Department of Environmental Protection.
In the list of Affected Ratings for Niagara Mohawk Power Corporation, changed the action for the Pref. This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
Over the past 10 years National Grid plc (LON:NG.) has grown its dividend payouts from £0.37 to £0.46. With a market cap of UK£28b, National Grid pays out 46% of its earnings, leading to a 5.6% yield. Let me elaborate on you why the sto...
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of National Grid Gas Plc and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). To...
National Grid shares fell more than 3 percent on Thursday after the BBC reported that Britain's main opposition Labour party is preparing to announce plans to renationalise the utility. Traders attributed the drop to the report, which they said detailed that the left-wing Labour party would release a policy paper on Thursday outlining the plan to transfer the utility back to public ownership. The policy rekindled lingering worries among investors about potential radical changes to public policy if Labour won a general election.