Endesa S.A.

Endesa is engaged in the production, transmission, distribution, and supply of electricity, through hydroelectric, fossil fuel, and nuclear generation. Co. is also engaged in the mining of coal for use in its fossil-fuel electric plants; mining research; land restoration, and environmental monitoring and control.
  • TickerELE
  • ISINES0130670112
  • ExchangeMadrid Stock Exchange
  • SectorElectricity
  • CountrySpain

Analysts

ENDESA SA sees an upgrade to Positive due to a better fundamental star rating

The general evaluation of ENDESA SA (ES), 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 defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date May 17, 2019, the closing price was EUR 22.79 and its potential was estimated at EUR 24.34.

Tancrede Fulop

Morningstar | Endesa Releases 1Q Results in Line With Expectations, Maintains 2019 Guidance; Shares Overvalued

We reiterate our EUR 19.50 fair value estimate along with our no-moat, stable trend ratings after Endesa released first-quarter results that were broadly in line with consensus expectations and maintained its 2019 guidance. The shares look overvalued to us; we prefer undervalued parent Enel, which has a more favorable dividend policy and higher earnings growth provided by its large international footprint. EBITDA increased 5.5% to EUR 928 million, in line with expectations. On the positive side, liberalized business' EBITDA rose 14%. Improvement of the integrated electricity unitary margin of...

Tancrede Fulop

Endesa Releases 1Q Results in Line With Expectations, Maintains 2019 Guidance; Shares Overvalued

We reiterate our EUR 19.50 fair value estimate along with our no-moat, stable trend ratings after Endesa released first-quarter results that were broadly in line with consensus expectations and maintained its 2019 guidance. The shares look overvalued to us; we prefer undervalued parent Enel, which has a more favorable dividend policy and higher earnings growth provided by its large international footprint. EBITDA increased 5.5% to EUR 928 million, in line with expectations. On the positive side,...

Tancrede Fulop

Morningstar | Endesa's 2019-21 Business Plan's Macro Assumptions Are Too Optimistic

Endesa is an integrated utility operating in power production, distribution, and supply in the Iberian Peninsula.Regulated businesses account for more than 60% of the group’s EBITDA. The bulk of these consist of distribution networks in Spain whose regulated return is set to 6.5% through the end of the current regulatory period in 2019. As of 2020, the regulatory return should decrease to 5.5% on the shift to a WACC-based remuneration scheme, in line other European countries' regulation. The liberalised generation and supply division accounts for one third of the group's EBITDA. Production mix...

Tancrede Fulop

Endesa's 2019-21 Business Plan's Macro Assumptions Are Too Optimistic

We reiterate our fair value estimate of EUR 19 per share along with our no-moat, stable trend ratings after Endesa released 2018 results slightly above expectations and reiterated its short- and medium-term guidance. We view the shares as overvalued. We foresee the dividend to decrease in 2020 and 2021 due to a decline in net income that we forecast and planned reduction in the payout ratio. We prefer parent company Enel, whose dividend floor through 2021 guarantees a 9% annual growth.  EBITDA i...

Tancrede Fulop

Morningstar | Endesa Releases 1Q Results in Line With Expectations, Maintains 2019 Guidance; Shares Overvalued

We reiterate our EUR 19.50 fair value estimate along with our no-moat, stable trend ratings after Endesa released first-quarter results that were broadly in line with consensus expectations and maintained its 2019 guidance. The shares look overvalued to us; we prefer undervalued parent Enel, which has a more favorable dividend policy and higher earnings growth provided by its large international footprint. EBITDA increased 5.5% to EUR 928 million, in line with expectations. On the positive side, liberalized business' EBITDA rose 14%. Improvement of the integrated electricity unitary margin of...

Tancrede Fulop

Endesa Releases 1Q Results in Line With Expectations, Maintains 2019 Guidance; Shares Overvalued

We reiterate our EUR 19.50 fair value estimate along with our no-moat, stable trend ratings after Endesa released first-quarter results that were broadly in line with consensus expectations and maintained its 2019 guidance. The shares look overvalued to us; we prefer undervalued parent Enel, which has a more favorable dividend policy and higher earnings growth provided by its large international footprint. EBITDA increased 5.5% to EUR 928 million, in line with expectations. On the positive side,...

Tancrede Fulop

Morningstar | Endesa's 2019-21 Business Plan's Macro Assumptions Are Too Optimistic

Endesa is an integrated utility operating in power production, distribution, and supply in the Iberian Peninsula.Regulated businesses account for more than 60% of the group’s EBITDA. The bulk of these consist of distribution networks in Spain whose regulated return is set to 6.5% through the end of the current regulatory period in 2019. As of 2020, the regulatory return should decrease to 5.5% on the shift to a WACC-based remuneration scheme, in line other European countries' regulation. The liberalised generation and supply division accounts for one third of the group's EBITDA. Production mix...

Tancrede Fulop

Endesa's 2019-21 Business Plan's Macro Assumptions Are Too Optimistic

We reiterate our fair value estimate of EUR 19 per share along with our no-moat, stable trend ratings after Endesa released 2018 results slightly above expectations and reiterated its short- and medium-term guidance. We view the shares as overvalued. We foresee the dividend to decrease in 2020 and 2021 due to a decline in net income that we forecast and planned reduction in the payout ratio. We prefer parent company Enel, whose dividend floor through 2021 guarantees a 9% annual growth.  EBITDA i...

Filipe Rosa

Utilities: Termination of coverage

Due to a reallocation of resources, Haitong Research is terminating coverage of Acciona (Ana SM), EDP (EDP PL), Enagas (ENG SM), Endesa (ELE SM), Iberdrola (IBE SM), Naturgy (NTGY SM) and REE (REE SM). Effective upon this termination of coverage, our last recommendations, fair values and estimates should not be relied upon going forward.

ENDESA SA sees an upgrade to Positive due to a better fundamental star rating

The general evaluation of ENDESA SA (ES), 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 defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date May 17, 2019, the closing price was EUR 22.79 and its potential was estimated at EUR 24.34.

Endesa

Endesa

Endesa

Endesa

Endesa SA (ELE) - Power - Deals and Alliances Profile

Summary Endesa, S.A. (Endesa), a subsidiary of Enel S.p.A., is an energy utility. It generates, supplies and distributes electricity; transports and supplies gas; and offers related services. It generates electricity using various fuel sources such as coal, liquid fuels, water, nuclear and natural gas. The company also offers products and services to the renewable energies and cogeneration sector, including wind farms, mini hydraulic, biomass and waste treatment plants. The company generates, distributes and supplies electricity in Spain and Portugal. It also supplies electricity and gas in o...

MarketLine Department

Endesa, S.A. – Mergers & Acquisitions (M&A), Partnerships & Alliances and Investment Report

Summary Energy and Utilities Key Findings Energy and Utilities Energy and Utilities Reasons To Buys MarketLine Key Highlights Spain

Expert Corporate Governance Service (ECGS)

Endesa, April 12, 2019

In item 7, the Board proposes to appoint Mr. Juan Sánchez-Calero Guilarte as non-executive Chairman of the Board of Directors. We welcome the separation of the roles of management and control, and Mr.  Sánchez-Calero Guilarte is independent as per our guidelines. Also taking into account his professional background and aggregate time commitments, we recommend approval. In item 8, we recommend that shareholders oppose the re-appointment of Ms. Helena Revoredo Delvecchio. Even though the Company considers her independent, she is not according to ECGS guidelines, since she is also controlling sh...

Endesa – 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...

Jérôme VINERIER

Analyse court terme - ENDESA : Stochastiques en zone de surachat.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 17,032 €.

Jérôme VINERIER

Short term view - ENDESA : Overbought stochastics

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €17.032.

Jérôme VINERIER

Analyse court terme - ENDESA : Les cours se sont repris.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. Les Stochastiques sont en zone de surachat. Les cours pourraient se replier jusqu'à 17,032 €.

Jérôme VINERIER

Short term view - ENDESA : Prices recovered.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. Stochastics are at the overbought level. prices could fall again to €17.032.

Jérôme VINERIER

Analyse moyen terme - ENDESA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 15,766 €.

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