National Grid is expected to provide a trading update for the quarter ending December 31, 2025, with analysts focused on full-year fiscal 2026 consensus expectations of $22.6 billion in revenue and $5.23 in underlying EPS. The current stock price of $93.84 sits significantly above the average analyst price target of $83.80, reflecting a defensive sector rotation and a growth-utility re-rating driven by AI power demand.
Investors are primarily focused on the execution of the group's massive £60 billion five-year capital investment plan, which targets over £11 billion in deployment for the current fiscal year. This spending is critical for integrating renewable energy and facilitating 19GW of additional grid demand from data centers, while the recently finalized RIIO-T3 regulatory framework from Ofgem provides essential clarity on future asset returns.