National Grid lifts EPS outlook: RBC keeps 1,375p target for National Grid stock

Published on 10/09/2026 at 11:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

National Grid expects EPS growth above 15.00 percent in fiscal 2026/27. National Grid stock costs EUR 13.64 on October 9, 2026 versus EUR 13.74.

Key points in brief

National Grid raised its fiscal 2026/27 earnings-per-share growth outlook above the previous 13.00-15.00 percent range on October 5, 2026.
National Grid Ventures and Other is expected to add GBP 130.0 million of first-half performance through one-off gains and interconnector results.
National Grid stock was EUR 13.64 at Lang & Schwarz on October 9, 2026, down 0.73 percent from the EUR 13.74 prior close.
RBC retained a Sector Perform rating and a 1,375.00p target on October 5, 2026.

Schwarzweiß-Dokumentarfoto eines Umspannwerks mit Transformatoren und Masten — Umspannwerk-Infrastruktur zeigt Kerngeschäft von National Grid plc, ISIN GB00BDR05C01, im britischen Energienetz-Sektor, Illustration mit AI erstellt.

National Grid raised its fiscal 2026/27 earnings-per-share growth outlook above the 13.00-15.00 percent range on October 5, 2026, and RBC retained a Sector Perform rating with a 1,375.00p target. The update links the higher outlook to National Grid Ventures and Other, which is expected to deliver GBP 130.0 million of additional first-half performance.

Three milestones frame the update

On July 22, 2026, National Grid announced plans to issue 50.9 million shares for its scrip dividend, according to Investing.com. For fiscal year 2025/26, revenue was GBP 17.687 billion and net income was GBP 3.243 billion, according to GreekSoup. On October 5, 2026, the company said its fiscal 2026/27 earnings-per-share growth should be slightly above 13.00-15.00 percent guidance, according to FT.com.

What the outlook means for earnings

The GBP 130.0 million contribution is not a recurring revenue figure. National Grid said it reflects one-off fair value gains from two NG Partners capital-market transactions and stronger interconnector performance, while regulated businesses remained in line with expectations.

That mix matters for investors because the higher growth signal comes partly from portfolio effects rather than a broad-based reset across regulated operations. The company also said first-half underlying earnings per share would remain weighted toward the second half, and closing half-year net debt should stay broadly in line with full-year guidance, according to FT.com.

The next earnings date is November 5

National Grid will announce its half-year results for the six months ended September 30, 2026, on November 5, 2026, according to Proactive. RBC's October 5, 2026 assessment kept the Sector Perform rating and 1,375.00p target, while Jefferies retained a Hold rating and a 1,300.00p target, according to finanzen.ch.

Euro quote remains below the yearly high

National Grid was trading at EUR 13.64 at Lang & Schwarz on October 9, 2026 at 11:31 a.m. CEST, minus 0.73 percent versus the prior close of EUR 13.74 on October 8, 2026. The euro 52-week range was EUR 12.60 to EUR 16.00 on October 9, 2026, putting the reference price EUR 2.36 below the reported high.

The further course of trading is shown by the continuously updated real-time quote of National Grid stock.