National Grid stock gains after GBP 600 million framework win status clarified? no

Published on 10/04/2026 at 19:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Grid stock posted underlying operating profit of GBP 5.680 billion for fiscal year 2025/26, up 8.8 percent. Capital investment rose 21.3 percent to GBP 11.576 billion.

Isometrische Grafik der Stromnetz-Wertschöpfungskette vom Kraftwerk zum Haus — Isometrische Wertschöpfungskette zeigt Stromnetzweg von National Grid plc (GB00BDR05C01), vom Kraftwerk bis zum Haushalt, Illustration mit AI erstellt.

National Grid stock was last at GBp 1,147.50 on the London Stock Exchange on October 2, 2026, up 1.2 percent for the session. The move followed news that 31 contractors had been selected for a substation civils framework carrying stated contract values of GBP 600 million, according to Construction Enquirer on October 2, 2026.

GBP 600 million framework starts October 14

The framework covers new and existing substations across the South West, Wales and the Midlands. The work includes foundations, roads, drainage, cable ducts, fencing and building maintenance at substations operating from 11kV to 132kV, linking the contract directly to the network investment cycle.

The 10 regional lots are scheduled to start on October 14, 2026, and initially run for one year, with an option to extend for another year. The contract structure spreads the work across 31 contractors rather than assigning the full value to one supplier, while giving National Grid access to construction capacity across multiple regions.

Operating profit rose 8.8 percent

National Grid reported underlying operating profit of GBP 5.680 billion for fiscal year 2025/26, an 8.8 percent increase from GBP 5.221 billion in fiscal year 2024/25, according to the company's investor materials dated May 14, 2026. Underlying EPS increased 8.3 percent to GBp 78.0 from GBp 72.0.

Capital investment reached GBP 11.576 billion in fiscal year 2025/26, up 21.3 percent from GBP 9.542 billion. The combination of higher network spending and the new civils framework shows why execution capacity matters alongside the regulated revenue base, although the framework value is a stated contract total rather than reported revenue for the company.

Analysts keep a measured stance

MarketBeat lists a Hold consensus for National Grid Transco based on 11 analysts, with an average NYSE ADR price target of USD 85.50. Its reference price of USD 76.09 implies 12.4 percent upside to that target, while the consensus includes 1 strong buy, 1 buy, 7 hold and 2 sell ratings.

Stock remains below its yearly high

On the LSE, National Grid stock traded within a 52-week range of GBp 1,068.00 to GBp 1,428.50. The October 2 price was 19.7 percent below the 52-week high, leaving the market focused on whether rising network investment can translate into the earnings growth signaled by the 2025/26 figures.