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

1 director bought

A director at Orsted As bought 1,500 shares at 480.649DKK and the significance rating of the trade was 60/100. 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 me...

Expert Corporate Governance Service (ECGS)

Orsted - March, 05th 2019

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. Since there is no such (legal) requirement in Denmark, ECGS recommends to vote OPPOSE. Under ITEM 7.2, it is proposed to re-appoint Mr. Thomas Thune Andersen as Chairman of the board...

Tancrede Fulop

Morningstar | Orsted Releases 2018 Results and 2019 Guidance in Line With Our Expectations; Shares Fairly Valued

We maintain our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted released full-year estimates and set 2019 guidance in line with our expectations, albeit below the consensus. The shares appear fairly valued. 2018 EBITDA increased by one third to DKK 30 billion, slightly above our DKK 29 billion and consensus' DKK 28.5 billion. As expected, the key growth driver was new partnerships owing to the farm-down of Hornsea 1 in the fourth quarter, which contributed to DKK 15.1 billion of EBITDA. Excluding new partnerships, EBITDA came in at DKK...

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 [email protected] Neil Griffiths- Lambeth +44.20.7772.5543 Associate Managing Director [email protected] 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 Releases 2018 Results and 2019 Guidance in Line With Our Expectations; Shares Fairly Valued

We maintain our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted released full-year estimates and set 2019 guidance in line with our expectations, albeit below the consensus. The shares appear fairly valued. 2018 EBITDA increased by one third to DKK 30 billion, slightly above our DKK 29 billion and consensus' DKK 28.5 billion. As expected, the key growth driver was new partnerships owing to the farm-down of Hornsea 1 in the fourth quarter, which contributed to DKK 15.1 billion of EBITDA. Excluding new partnerships, EBITDA came in at DKK...

Tancrede Fulop

Orsted Releases 2018 Results and 2019 Guidance in Line With Our Expectations; Shares Fairly Valued

We maintain our fair value estimate of DKK 450 per share along with our narrow moat and stable trend ratings after Orsted released full-year estimates and set 2019 guidance in line with our expectations, albeit below the consensus. The shares appear fairly valued. 2018 EBITDA increased by one third to DKK 30 billion, slightly above our DKK 29 billion and consensus' DKK 28.5 billion. As expected, the key growth driver was new partnerships owing to the farm-down of Hornsea 1 in the fourth quarter,...

Tancrede Fulop

Morningstar | We See Other Value Levers After Danish Government Blocks Sale of Orsted's Distribution Business

On Jan. 13, Orsted announced that the Danish government no longer supports the divestment process of its Danish power distribution, retail, and city light businesses. As the state is the majority shareholder with 50.1% of the capital, this means the disposal is scrapped. This is surprising, as the disposal had been approved by Orsted's board of directors in June 2018 and there was already a restricted list of potential buyers, including pension funds. This is also disappointing for us as we incorporate in our fair value estimate a premium from the sale of these activities. However, we see othe...

Tancrede Fulop

We See Other Value Levers After Danish Government Blocks Sale of Orsted's Distribution Business

On Jan. 13, Orsted announced that the Danish government no longer supports the divestment process of its Danish power distribution, retail, and city light businesses. As the state is the majority shareholder with 50.1% of the capital, this means the disposal is scrapped. This is surprising, as the disposal had been approved by Orsted's board of directors in June 2018 and there was already a restricted list of potential buyers, including pension funds. This is also disappointing for us as we inco...

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...

1 director bought

A director at Orsted As bought 1,500 shares at 480.649DKK and the significance rating of the trade was 60/100. 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 me...

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)

Orsted - March, 05th 2019

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. Since there is no such (legal) requirement in Denmark, ECGS recommends to vote OPPOSE. Under ITEM 7.2, it is proposed to re-appoint Mr. Thomas Thune Andersen as Chairman of the board...

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

Vermilion Int'l Compass: Global Equity Strategy

MSCI EM in early stages of bottoming Our overall global outlook remains cautious and continued downward pressure on global equities remains our expectation. This belief is supported in part by the absence of bottoming price action for broad global indexes (MSCI ACWI, ACWI ex-U.S., and EAFE), which are still making lower highs and lower lows. However, one bright spot is EM (more on this below), which continues to give us hope that global equities can bottom out. • Emerging Markets. We began highlighting the MSCI EM index as leadership on a relative basis back in November, so continued outper...

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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