Orsted is a renewable energy company based in Denmark. Co. is engaged in developing a renewables portfolio based on competences in offshore wind, bioenergy, and energy solutions. Co. is active in deploying offshore wind and converting existing coal- and gas-fired power stations to sustainable biomass, providing a heat and power supply which is both green and flexible. Co. divides its operations into four businesses: Wind Power, Bioenergy & Thermal Power, and Distribution & Customer Solutions. The Bioenergy & Thermal Power and Distribution & Customer Solutions businesses jointly constitute Co.'s Danish utility business. Co. maintains activities primarily in Northwestern Europe.
  • TickerA0NBLH
  • ISINDK0060094928
  • ExchangeNasdaq Nordic Copenhagen
  • SectorGas, Water & Multi-utilities
  • CountryDenmark

Analysts

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Global Utility Stocks

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound. The defensive Utilities Sector has been a primary beneficiary of global equity market weakness. Today we direct your attention to three stocks with the best setups in the Sector: Guangdong Investment Limited (270-HK), Orsted (ORSTED-DK), and Electricite de France SA (EDF-FR). All three have pulled back to logical support and should be bought at current levels. Add exposure.

Tancrede Fulop

Morningstar | Orsted Is Well Positioned to Tap Global Offshore Wind Value

Orsted pioneered the offshore wind business by building the first large-scale farm in Denmark in 2002, and it has strong know-how in this industry, which more and more countries intend to develop. This is evidenced by construction gains and share purchase agreements through which the group brings a partner into a project during the construction phase. The partner typically pays a premium to the net present value, driving value creation up front. With 90% of EBITDA coming from offshore wind farms and 10% from traditional utility businesses in Denmark, Orsted has a unique business mix among Euro...

Tancrede Fulop

Orsted Is Well Positioned to Tap Global Offshore Wind Value

We reiterate our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted's Nov. 28 capital markets day, in which the company updated its capital allocation, provided financial details on its projects, and extended its mid-single-digit dividend growth policy from 2020 to 2025, in line with our estimate. We believe the shares are fairly valued.  The group now guides for an internal rate of return of 7.5%-8.5% for seven projects sanctioned or about ...

Moody's assigns Baa3 rating to hybrid notes to be issued by Orsted; stable outlook

Rating Action: Moody's assigns Baa3 rating to hybrid notes to be issued by Ørsted; stable outlook. Global Credit Research- 16 Nov 2017. London, 16 November 2017-- Moody's Investors Service has today assigned a Baa3 long-term rating to the proposed issuance of Callable Subordinated Capital Securities due 3017 by Ørsted A/S.

Orsted A/S: Divestments boost 2017 earnings outlook

INFRASTRUCTURE AND PROJECT FINANCE ISSUER COMMENT 7 November 2017 Contacts Joanna Fic +44.20.7772.5571 VP-Sr Credit Officer joanna.fic@moodys.com Neil Griffiths- Lambeth +44.20.7772.5543 Associate Managing Director neil.griffiths-lambeth@moodys.com CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100 EMEA 44-20-7772-5454 Ørsted A/S Divestments boost 2017 earnings

Tancrede Fulop

Morningstar | Orsted Is Well Positioned to Tap Global Offshore Wind Value

Orsted pioneered the offshore wind business by building the first large-scale farm in Denmark in 2002, and it has strong know-how in this industry, which more and more countries intend to develop. This is evidenced by construction gains and share purchase agreements through which the group brings a partner into a project during the construction phase. The partner typically pays a premium to the net present value, driving value creation up front. With 90% of EBITDA coming from offshore wind farms and 10% from traditional utility businesses in Denmark, Orsted has a unique business mix among Euro...

Tancrede Fulop

Orsted Is Well Positioned to Tap Global Offshore Wind Value

We reiterate our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted's Nov. 28 capital markets day, in which the company updated its capital allocation, provided financial details on its projects, and extended its mid-single-digit dividend growth policy from 2020 to 2025, in line with our estimate. We believe the shares are fairly valued.  The group now guides for an internal rate of return of 7.5%-8.5% for seven projects sanctioned or about ...

Tancrede Fulop

Morningstar | Orsted's Value-Accretive Releveraging to Offset Returns Below Expectations for Ongoing Projects

We reiterate our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted's Nov. 28 capital markets day, in which the company updated its capital allocation, provided financial details on its projects, and extended its mid-single-digit dividend growth policy from 2020 to 2025, in line with our estimate. We believe the shares are fairly valued. The group now guides for an internal rate of return of 7.5%-8.5% for seven projects sanctioned or about to be sanctioned in Europe, Taiwan, and the United States. This is well below our 12% estimate. The ...

Tancrede Fulop

Orsted's Value-Accretive Releveraging to Offset Returns Below Expectations for Ongoing Projects

We reiterate our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted's Nov. 28 capital markets day, in which the company updated its capital allocation, provided financial details on its projects, and extended its mid-single-digit dividend growth policy from 2020 to 2025, in line with our estimate. We believe the shares are fairly valued.  The group now guides for an internal rate of return of 7.5%-8.5% for seven projects sanctioned or about ...

Tancrede Fulop

Morningstar | Orsted Is Ideally Fit to Tap Global Offshore Wind Value

Orsted pioneered the offshore wind business by building the first large-scale farm in Denmark in 2002, and it has strong know-how in this industry, which more and more countries intend to develop. This is evidenced by construction gains and share purchase agreements through which the group brings a partner into a project during the construction phase. The partner typically pays a premium to the net present value, driving value creation up front. With 90% of EBITDA coming from offshore wind farms and 10% from traditional utility businesses in Denmark, Orsted has a unique business mix among Euro...

1 director sold

A director at Orsted As sold 1,000 shares at 439.700DKK and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board memb...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Proxy Report - 08/03/2018

In 2017, the Company (formerly DONG Energy) changed its name to Orsted. The name is a tribute to the Danish scientist H.C. Orsted, who (among other things) discovered electromagnetism.In general, Orsted is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 3, although not legally required in Denmark, the board of directors and the executive management seek discharge. Under its guidelines, ECGS no longer approves discharge of the board of directors and/or executive management if there is no legal requirement for it. Sin...

Dave Nicoski ...
  • Ross LaDuke

Global Equity Strategy

Global equities (MSCI ACWI) are testing 52-week lows as prices have been consolidating over the last 1-2 months. Investors' primary sources of angst continue to revolve around concerns of (1) the global shift toward tighter monetary policy and the potential for perceived policy missteps, (2) trade and tariffs, and (3) the potential negative effects both (1) and (2) may have on global growth. Comments from Fed Chair Powell that interest rates are “just below” the neutral rate and the 90-day tariff ceasefire agreement between the U.S. and China have not been able to calm the markets. In Europe, ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Global Utility Stocks

Broadly speaking, global equities (MSCI ACWI, ACWI ex-U.S., EAFE) remain unattractive from a price perspective as breakdowns and downtrends abound. The defensive Utilities Sector has been a primary beneficiary of global equity market weakness. Today we direct your attention to three stocks with the best setups in the Sector: Guangdong Investment Limited (270-HK), Orsted (ORSTED-DK), and Electricite de France SA (EDF-FR). All three have pulled back to logical support and should be bought at current levels. Add exposure.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Opportunities within Mobile Payments, Metals & Mining, and Utilities The MSCI ACWI and S&P 500 continue to recover following the most recent test of support at their respective 200-day moving averages. With market internals still mixed, support levels holding, and indexes continuing to consolidate sideways, our neutral but constructive outlook remains intact. • Major themes: Mobile Payments, Metals & Mining, and Utilities. We believe the secular mobile payments theme (ETF: IPAY) has room to run, and we expect related stocks to continue outperforming... see pages 2-4 for actionable stocks. W...

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