National Grid's Rights Issue Is Highly Dilutive, but Removes Uncertainties
National Grid owns and operates energy networks in the United States and the United Kingdom.
National Grid owns and operates energy networks in the United States and the United Kingdom.
The sale of Grain LNG, renewables assets, and ESO should command high multiples.
The highly dilutive rights issue reflects poor capital allocation.
Metric
|
NGG
|
IBE
|
PPL
|
---|---|---|---|
Price/Earnings (Normalized) | 10.96 | 12.99 | 19.38 |
Price/Book Value | 1.24 | 1.43 | 1.51 |
Price/Sales | 1.87 | 1.67 | 2.58 |
Price/Cash Flow | 8.10 | 7.61 | 10.44 |
Metric
|
NGG
|
IBE
|
PPL
|
---|---|---|---|
Quick Ratio | 0.64 | 0.60 | 0.81 |
Current Ratio | 0.91 | 0.77 | 1.28 |
Interest Coverage | 2.63 | 4.98 | 2.35 |
Metric
|
NGG
|
IBE
|
PPL
|
---|---|---|---|
Return on Assets (Normalized) | 3.03% | 4.79% | 3.18% |
Return on Equity (Normalized) | 9.72% | 14.40% | 8.81% |
Return on Invested Capital (Normalized) | 5.31% | 7.51% | 6.02% |
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
---|---|---|---|---|---|
NEE
| NextEra Energy Inc | Wbngpbbdq | Tpmlht | $164.4 Bil | |
SO
| Southern Co | Tcdqxpbz | Ybyvyr | $87.6 Bil | |
DUK
| Duke Energy Corp | Jjfcyzyk | Hsgdc | $79.9 Bil | |
PCG
| PG&E Corp | Sxfkclv | Jph | $48.5 Bil | |
AEP
| American Electric Power Co Inc | Ytnskzhzx | Xwzhxg | $46.5 Bil | |
D
| Dominion Energy Inc | Bmpjjwzy | Wdbffs | $45.2 Bil | |
EXC
| Exelon Corp | Cmtjgrbv | Qgdqys | $37.5 Bil | |
PEG
| Public Service Enterprise Group Inc | Qclfbtm | Xbdjwst | $36.8 Bil | |
ED
| Consolidated Edison Inc | Knptxdh | Vqkf | $32.0 Bil |