London, Feb 16, 2026, 08:06 GMT — Regular session
- National Grid dropped 1.2% at the open, coming off Friday’s high.
- Next up: the utility’s full-year results and dividend schedule on May 14.
- Big grid spending plans are in the spotlight, but investors still have to factor in the usual risks around regulation and funding.
Shares of National Grid (NG.L) fell 1.2% to 1,349.5 pence in early trading in London on Monday. The move comes after the stock hit record highs late last week. (Investing)
This pullback stands out: National Grid is packed with investors chasing safety in the FTSE 100 and the stock’s still trading close to its 52-week peak. Right now, even a minor change in sentiment on regulated returns, debt costs or delivery risks is enough to trigger sharp moves in the shares. (Investing)
Investors are keeping an eye on the calendar, with the company set to release its full-year results on May 14. That’s usually when it revises its guidance and lays out dividend plans. (Financial Times Markets)
According to Investing.com, shares dropped 16.5 pence from their prior close at 1,366.0 pence. So far this Monday, they’ve traded between 1,349.0 and 1,359.5 pence. (Investing)
With shares peaking at 1,366.5 pence over the past year, there isn’t much cushion left after the rally. (Investing)
National Grid has surged, climbing roughly 42% in the past year, according to Hargreaves Lansdown data. That easily tops a host of other defensive names that have lagged behind. (Hargreaves Lansdown)
National Grid stands as the operator of Britain’s electricity transmission system and holds network assets in the northeastern U.S., positioned right in the thick of a protracted, capital-intensive grid overhaul driven by electrification and a ramp-up in renewables.
Back in November, then-CEO John Pettigrew called network investment “critical to ensure continued resilience… and meet growing power demand” in the group’s half-year update. At the time, the company reaffirmed plans to put more than £11 billion into the network by 2025/26. (Financial Times Markets)
Plenty could trip this up. Regulators might clamp down on permitted returns. Project delays often push budgets higher. And when utilities finance big construction with debt, pricier borrowing quickly erodes profits.
Eyes turn to the May 14 results and the dividend schedule right after, with ordinary shares going ex-dividend for the 2025/26 final payout on May 28. (Financial Times Markets)
