NGG

Key Takeaways

• National Grid owns the regulated wires that carry electricity and gas across Britain and parts of the northeastern United States, a business whose earnings rise mechanically with the size of the asset base rather than with the economic cycle, and that base grew about 10.9% in the year to March 2026. [Source: National Grid FY2026 full-year results] • The defining risk is that growth is bought with debt and equity: net debt sits near £55 billion against operating income, interest coverage is onl

Institutional ownership

582 institutional managers reported holding NGG in 13F filings for the quarter ended 2026-03-31. Together they hold about 1% of the company; the top 10 hold 1%. 87 opened new positions that quarter. Held by FMR (Fidelity), Morgan Stanley, Goldman Sachs, among others. On the short side, 1.3M shares were sold short as of the 2026-06-15 count, about 0.0% of shares outstanding (1.4 days of typical volume to cover).

Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.

Capital returns

NGG's share count grew 33.6% over the past five years. It pays a dividend, and has paid one every year in our records (10 and counting). Cash returned over the past three years: $7.95B in dividends.

Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.

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