National Grid stock gains 2.12 percent after Bernstein backing

National Grid stock (ISIN GB00BDR05C01) was trading at EUR 13.48 at Lang & Schwarz on September 30, 2026 at 1:30 p.m. CEST, up 2.12 percent versus the EUR 13.20 prior close. The move follows continued analyst support for the regulated utility's growth investment.

Bernstein keeps growth view

According to ARIVA.DE on September 25, 2026, Bernstein Research kept National Grid at Outperform with a GBp 1,310.00 price target. The analyst view pointed to regulated businesses, predictable cash generation and growth investment, while treating the recent rise in bond yields as largely reflected in valuations.

The rating matters because National Grid is funding a large expansion of its networks. The question for the stock is whether higher capital spending can translate into regulated asset growth without weakening shareholder distributions.

Investment lifts operating profit

National Grid's fiscal year 2025/26 results show underlying operating profit of GBP 5,680 million, an 8.80 percent increase from GBP 5,221 million in the prior fiscal year, according to National Grid. Underlying EPS rose 8.30 percent to GBp 78.00 from GBp 72.00, giving the earnings trend a direct link to the analyst growth thesis.

Capital investment increased 21.30 percent to GBP 11,576 million from GBP 9,542 million in fiscal year 2025/26. The company also reported a 3.80 percent increase in its dividend to GBp 48.49, compared with GBp 46.72 in the prior fiscal year.

Stock remains below yearly high

The Lang & Schwarz price of EUR 13.48 on September 30, 2026 gives National Grid stock a dated market reference alongside the company's operating figures. On the LSE, the stock was last at GBp 1,150.00 on September 30, 2026 at 12:31 p.m. CEST, while its 52-week range was GBp 1,058.50 to GBp 1,428.50.

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