Electricite de France (EDF)

Electricite de France is an integrated energy company with a presence in a range of electricity-related businesses: nuclear, renewable and fossil-fuel fired energy production, transmission, distribution, marketing as well as energy management and efficiency services, along with energy trading. Co. is an integrated energy company engaged in all aspects of the energy business: generation, transmission, distribution, supply and trading of energies. Co. is an electricity operator in France and abroad. The breakdown used by Co. for its activities is as follows: France; United Kingdom; Italy; Other International; and Other activities.
  • TickerEDF
  • ISINFR0010242511
  • ExchangeEuronext Paris
  • SectorElectricity
  • CountryFrance

Analysts

EDF - Assemblée générale des actionnaires du 14 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

EDF

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/02/2019

Si les questions sans réponse s’accumulent chaque jour sur la thématique du Brexit, une chose semble certaine : le marché, sans avoir versé dans l’optimisme béat, est loin d’avoir pricé un « hard Brexit ». Par référence historique (référendum 2016), le choc instantané dans le cas d’une sortie désordonnée non anticipée, est de l’ordre de 11 % sur les indices de la zone euro. La décote politique européenne milite pour un décrochage relatif en euro de 7% vs Etats-Unis. Tous les marchés n...

EDF

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/18/2019

With unanswered questions accumulating every day on the theme of Brexit, one thing seems certain: the market, without having fallen into blissful optimism, is far from having priced in a hard Brexit. Recent history (the 2016 referendum) shows that the immediate shock in the event of an unanticipated disorderly exit would be around 11% on the eurozone indices. The European political discount indicates a relative, in euros, drop of 7% vs the US. The impact on the markets would not be un...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 18/02/2019

Si les questions sans réponse s’accumulent chaque jour sur la thématique du Brexit, une chose semble certaine : le marché, sans avoir versé dans l’optimisme béat, est loin d’avoir pricé un « hard Brexit ». Par référence historique (référendum 2016), le choc instantané dans le cas d’une sortie désordonnée non anticipée, est de l’ordre de 11 % sur les indices de la zone euro. La décote politique européenne milite pour un décrochage relatif en euro de 7% vs Etats-Unis. Tous les marchés n...

Louis Boujard ...
  • Philippe Ourpatian

EDF : Decent results but guidance disappointing

>Earnings satisfactory but uninspiring - On Friday, EDF reported results in line with expectations. Sales were € 68,976m, up 4.0% on an organic basis and EBITDA was in line with forecasts at € 15,265m (+11.3% organic). EBIT came in below forecasts at € 5,282m (-6.3%) impacted by € 703m in writedowns and other unanticipated operational expenditure. Net profit was € 2,452m, down 13.1% but in line with forecasts at € 2,345m. In detail, the performances delivered by the g...

Louis Boujard ...
  • Philippe Ourpatian

EDF : Des résultats corrects mais une guidance décevante

>Des résultats corrects mais sans étincelle - EDF a publié vendredi dernier des résultats en ligne avec les attentes. Le CA est ressorti à 68 976 M€ en croissance de 4.0% en organique et l’EBITDA était en ligne avec les attentes à 15 265 M€ (+11.3% en organique). L’EBIT est ressorti inférieur aux attentes à 5 282 M€ (-6.3%) impacté par 703 M€ de dépréciations et autres dépenses opérationnelles qui n’avaient pas été attendues. Le RN atteint 2 452 M€ en baisse de 13.1%...

1 director bought

A director at Electricite De France bought 11,798,465 shares at 10.230EUR and the significance rating of the trade was 100/100. 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. ...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/14/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard
  • Martial Descoutures
  • Olivier Lebrun
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/02/2019

...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Bruno Cavalier
  • Delphine Brault
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Valentin Pernet

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/28/2019

The underperformance from Vinci and Eiffage end-2018 appears overdone: motorway traffic has admittedly been penalised by the gilets jaunes (“yellow vests”) movement but visibility remains excellent on cash flow generation with highly attractive valuations (FCF yield of 7% for Vinci and 10% for Eiffage). While M&A risk is henceforth more limited, we are upgrading our recommendation on Vinci to Buy (target price of € 90) but we continue to prefer Eiffage (target price of € 103). - ...

Alain William ...
  • Alfred Glaser
  • Anis Zgaya
  • Bruno Cavalier
  • Delphine Brault
  • Louis Boujard
  • Philippe Ourpatian
  • Roland Pfaender
  • Valentin Pernet

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 28/01/2019

...

Anis Zgaya ...
  • Emira Sagaama
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/28/2018

...

ELECTRICITE DE FRANCE sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of ELECTRICITE DE FRANCE (FR), a company active in the Conventional Electricity industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 5, 2019, the closing price was EUR 14.90 and its potential was estimated at EUR 15.98.

EDF

EDF

EDF

EDF

Delphine Chauvin

EDF : Considerations on the group's architecture. What about debt under a "nuclear segregation” scenario?

...

Delphine Chauvin

EDF : Réflexion sur l’architecture du groupe. Quid de la dette dans un scenario de « sanctuarisation » du nucléaire ?

...

Electricite de France SA (EDF) - Power - Deals and Alliances Profile

Summary Electricite de France S.A. (EDF) is a state-owned integrated energy company that generates, transmits, distributes and sells electricity; supplies natural gas; and offers energy services such as district heating, thermal energy services and other services. The group generates electricity from diversified sources such as nuclear, fossil-fired, hydro, wind, biomass, and other renewable energy sources. It provides electricity and related services to industrial, small business and residential customers, and local authorities. The group through its subsidiaries operates in France, the UK, ...

Electricite de France SA (EDF) - Oil & Gas - Deals and Alliances Profile

Summary Electricite de France S.A. (EDF) is a state-owned integrated energy company that generates, transmits, distributes and sells electricity; supplies natural gas; and offers energy services such as district heating, thermal energy services and other services. The group generates electricity from diversified sources such as nuclear, fossil-fired, hydro, wind, biomass, and other renewable energy sources. It provides electricity and related services to industrial, small business and residential customers, and local authorities. The group through its subsidiaries operates in France, the UK, ...

EDF - Assemblée générale des actionnaires du 14 mai 2019

Proxinvest publiera une étude analysant les résolutions proposées lors de la tenue de l’assemblée générale des actionnaires. Vous pouvez l'acquérir dès à présent et elle vous sera adressée par ResearchPool une fois publiée.

EDF – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Charles Pinel

Proxy Report - 05/05/2018

This general meeting raises the debate on the level of the responsible dividend for EDF. While the board of directors proposes to divide the stock dividend by two, th employee shareholders, via the EDF Actions France, propose in resolution A not to distribute dividends. Proxinvest congratulates the board for this strong and uncomfortable decision to drastically reduce the dividend. Because of the investment needs and the free cash flow, it remains high to ensure its sustainability. The company offers the option for the stock dividend that give the possibility to limit the cas outflows but the...

Charles Pinel

Proxy Report - 05/05/2018

La présente AG pose le débat du niveau de dividende responsable pour EDF. Alors que le conseil d'administration propose de diviser par deux le dividende par action, les actionnaires salariés, via le FCPE EDF Actions France, propose en résolution A de ne pas verser de dividende. Proxinvest félicite le conseil pour ce geste fort et peu aisé de réduction drastique du dividende. Au regard des besoins d'investissement et du Free Cash Flow, celui-ci reste tout de même élevé pour pouvoir garantir sa pérennité. La société propose l'option pour le dividende en actions qui a le mérite de limiter les sor...

Jehanne Leroy

Etude de l'AG du 18/05/2017

ITEM 3: The company slightly decreased its dividend this year, while EPS significantly grew. Hence, in terms of payout ratio, the one proposed seems far more sensible than the 2015's payout ratio. However, the company's financial situation did not improve and its indebtedness is still not covered by its market value.Therefore, although the 2016's financial situation is less catastrophic than in 2015, we remain concerned and we would have preferred that the company did not pay any dividend but ensures its financial situation.

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

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.

Valérie GASTALDY

Analyse court terme - ELECTRICITE DE FRANCE : Les cours progressent encore.

La tendance est haussière. Les cours progressent encore, mais la tendance s'affaiblit. La prochaine résistance est à 15,600 €. La rupture de 13,700 € mettrait la tendance en danger.

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