National Grid Shares - Berenberg holds rating as London market stays cautious

National Grid shares eased in London midweek as fresh broker views, including a reiterated Hold from Berenberg with a £13.50 target, met a softer FTSE 100 backdrop. A Wednesday operational and strategy lens keeps the focus on the group’s heavy UK and US grid investments.

Edited by ad hoc news Operations & Strategy Desk. Verified prior to publication on 06/17/2026, 17:45 BST. Details in the imprint.

National Grid (GB00BDR05C01) sits between fresh broker support and a muted UK equity backdrop this week. A Berenberg analyst has maintained a Hold stance with a £13.50 price target, while London trading on Wednesday reflected broader FTSE 100 softness according to recent broker commentary and price data.

What recent brokers are saying

Berenberg Bank’s Andrew Fisher reiterated a Hold rating on National Grid and set a price target of £13.50 on the London-listed stock, according to a broker note summary published on Wednesday. The broker update cites a Hold from Berenberg with a £13.50 target.

Separately, financial press coverage noted that National Grid shares in London slipped by a little over 1% on Wednesday morning as the FTSE 100 index traded slightly lower, highlighting how stock-specific views are intersecting with a softer wider market. One report pointed to shares around 1,209 pence, down about 1.2%, with the FTSE 100 modestly weaker.

Operational strategy and investment load

National Grid’s current strategy centers on heavy, largely regulated investment in electricity and gas transmission and distribution networks in the UK and US Northeast, framed as necessary to support decarbonization and security of supply. The company’s investor materials emphasize multi-year capital expenditure plans and a focus on regulated asset growth.

These capex programs are sizable by sector standards and are designed to expand and reinforce grid infrastructure for renewable integration, demand growth and reliability, while regulators in the UK and US determine allowed returns and recovery mechanisms that shape long-term earnings.

How National Grid makes its money

National Grid generates most of its revenue and operating profit from regulated electricity and gas networks in Great Britain and the US Northeast, where it earns allowed returns on a regulated asset base in exchange for operating critical grid infrastructure.

Where the stock trades today

The shares of National Grid (GB00BDR05C01) trade on the London Stock Exchange under the ticker NG at around 1,210 pence as of 06/17/2026, 16:30 BST.

Key facts on National Grid stock

• Company: National Grid plc
• ISIN: GB00BDR05C01
• WKN: BDR05C
• Ticker: NG
• Venue: London Stock Exchange
• Price (as of 06/17/2026, 16:30 BST): 1,210.00 GBX
• Market cap: 81.74 billion USD (as of 06/17/2026)
• Sector / Industry: Utilities / Multi-Utilities
• Index membership: FTSE 100
• Next earnings date: not officially scheduled

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