National Grid PLC (LSE:NG) in Invesco Global Infrastructure Fund Q2 2024

Leading Europe's Energy Transition

Apr 15, 2025

Summary

Investment rationale: Overweight position due to its attractive network growth and capital program.
Market positioning: Strong presence in the UK with significant investments in energy transmission.
Risks and challenges: Regulatory changes and potential cost overruns in capital projects.
Recent performance: Benefited from a large equity offering and expanded capital program.
Future outlook: Positioned as one of Europe's most attractive network growth equity stories.

National Grid PLC (LSE:NG, Financial) was featured in the Invesco Global Infrastructure Fund Q2 2024 commentary as a significant overweight in the gas distribution segment. The fund managers noted the company's recent equity offering and expanded capital program as key drivers of its growth potential, aligning with the UK government's energy transmission goals.

"The fund's position in National Grid has resulted in an overweight in the gas distribution segment. The company recently completed a large equity offering that has injected years of capital into its balance sheet. Additionally, its capital program has grown in order to accommodate the UK government’s energy transmission goals, and it has become in our view one of Europe’s most attractive network growth equity stories." — Invesco Global Infrastructure Fund Q2 2024 Commentary

Read full letter at gurufocus invesco global infrastructure fund q2 2024 commentary 2024 Q2 page.

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