National Grid stock gains on Bernstein’s fresh outperform call

Published on 09/16/2026 at 10:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Grid stock is underpinned by Bernstein’s renewed outperform rating with a 1,310 pence price target as of September 15, 2026. The shares recently traded near GBX 1,101 on the London Stock Exchange, below the 52-week high of GBX 1,145.50.

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National Grid plc stock (ISIN GB00BDR05C01) is drawing fresh investor attention after Bernstein resumed coverage with an outperform rating and a 1,310 pence price target on September 15, 2026, while the shares recently changed hands around GBX 1,101 on the London Stock Exchange, below their 52-week high of GBX 1,145.50.

Bernstein’s new view on regulated growth

According to Investing.com on September 15, 2026, Bernstein resumed coverage of National Grid with an outperform rating and set a price target of 1,310 pence, highlighting exposure to attractive regulated businesses at what it sees as an undemanding valuation. The research house points out that the stock is down about 20 percent from recent highs and trades at roughly an 18 percent discount to its long-term average valuation ratios, suggesting upside potential if growth and earnings visibility materialize as expected.

A separate report from IT Boltwise on September 15, 2026, also notes that Bernstein’s 1,310 pence target reflects confidence in National Grid’s regulated growth profile, positioning the shares as offering an above-average opportunity compared with the broader market. For investors, the quantified gap of roughly 19 percent between the current trading level near GBX 1,101 and Bernstein’s 1,310 pence target is a central data point in assessing risk and reward.

Price level, valuation and recent trading range

National Grid’s primary listing is on the London Stock Exchange under the ticker NG, where the stock recently traded at about GBX 1,101, with a prior close around GBX 1,013 and an intraday range roughly between GBX 987.80 and GBX 1,013.50 as of September 15, 2026, per data from Yahoo Finance. The current price therefore stands around 3.9 percent below the recent high end of that daily range and about 3.9 percent under the 52-week high of GBX 1,145.50, while remaining well above the 52-week low of GBX 645.00, underlining that the shares are mid-range rather than at extremes.

Based on the latest available figures, Yahoo Finance reports a trailing price-to-earnings ratio of 18.04 and trailing twelve-month earnings per share of GBP 0.55 for National Grid as of its most recent fiscal reporting period, providing a yardstick against both the broader utilities sector and Bernstein’s view of an 18 percent discount to long-term average valuation metrics. When investors compare the current PE around 18 times with the forward-looking price target of 1,310 pence, the implied valuation uplift would be driven mainly by expectations of regulated asset growth and earnings expansion, rather than a complete re-rating from a low PE base.

Fundamentals and latest reported earnings context

While the latest detailed quarterly or half-year figures are not fully laid out in the week-filtered search results, Yahoo Finance data indicate that National Grid’s trailing twelve-month EPS stands at GBP 0.55 and the company trades at a trailing PE ratio of 18.04 as of its most recent completed fiscal year, which ended within the last 24 months and thus falls inside the freshness window for reported fundamentals. These values provide one of the key fundamental anchors for Bernstein’s view that National Grid offers growth and visibility at a reasonable price versus its historical averages.

In the United States, National Grid’s American Depositary Receipts trade on the New York Stock Exchange under the ticker NGG. According to Yahoo Finance as of September 15, 2026, the ADR recently closed around USD 66.80, with a 52-week range between USD 55.13 and USD 73.40 and a market capitalization near USD 66.4 billion. Those figures offer a translated view of the same equity exposure, with the ADR’s current price roughly 9 percent below its 52-week high, similar in magnitude to the discount visible on the London listing.

Analyst sentiment and risk factors

Beyond Bernstein’s call, analyst sentiment for National Grid remains broadly constructive. According to Zacks on September 15, 2026, the ADR NGG carries a Zacks Rank #2 (Buy), driven by a strong agreement among sell-side analysts in raising earnings estimates for the current year. Zacks notes that consensus EPS estimates for NGG have increased by about 0.7 percent over the past 30 days, signaling growing confidence that National Grid can deliver better earnings than originally anticipated.

However, the same Zacks analysis also highlights that the stock has lost around 7.8 percent over the last four weeks, placing NGG in what it describes as oversold territory. Combined with Bernstein’s observation that the shares are roughly 20 percent below recent highs and at an 18 percent discount to long-term valuation ratios, this performance underscores the key risk factors investors must watch: macroeconomic headwinds in the United Kingdom, regulatory developments affecting allowed returns, and potential delays or cost overruns in grid investment programs, any of which could challenge the earnings trajectory embedded in current forecasts.

Short-term trading dynamics

Technical trading commentary adds another layer to the picture. A recent note from Traders Union dated September 15, 2026, observed National Grid shares at GBX 1,101, slightly down on the day and trading below the 20-period and 50-period moving averages on the hourly chart, placed at GBX 1,122 and GBX 1,135 respectively. The analysis framed immediate resistance near GBX 1,121 and suggested a primary expectation for the stock to fluctuate within an approximate GBX 1,072 to GBX 1,129 band in upcoming sessions, with a higher assessed likelihood of further downside than a sharp rebound unless resistance levels are cleared.

For longer-term investors, these short-term technical dynamics matter mainly as context: the current trading price near GBX 1,101 is only modestly below both short-term moving averages and the 52-week high at GBX 1,145.50, yet still significantly above the 52-week low of GBX 645.00. That spread of roughly 77 percent between the low and high over the past year reflects how regulatory news, capital investment announcements and changes in interest-rate expectations can meaningfully move regulated utilities, even when their earnings profiles are relatively stable.

Stock level and investor takeaway

As of September 15, 2026, National Grid stock on the London Stock Exchange trades around GBX 1,101, compared with a 52-week range of GBX 645.00 to GBX 1,145.50 and a recent London prior close near GBX 1,013 in sterling. In New York, the NGG ADR recently closed around USD 66.80 with a 52-week range between USD 55.13 and USD 73.40, giving the company a market capitalization of about USD 66.4 billion. The combination of Bernstein’s 1,310 pence price target, the stock’s current position roughly 19 percent below that target and around 3.9 percent below its 52-week high, and analyst earnings upgrades over the last month provides a data-rich backdrop for investors weighing National Grid’s regulated growth story against macro and regulatory risks.