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

Javier Esteban

ENDESA: MENSAJES DE LA CONFERENCE CALL RDOS. 9MESES’19 (ANÁLISIS BANCO SABADELL)

De la conference call Rdos. 9meses’19 destacamos pocas novedades:  Provisión de cierre de capacidad en carbón. Estuvo ligeramente por encima de lo esperado (1.400 M euros vs guidance de 1.300 que se compensaron con una menor tasa fiscal). Y del total de la misma, 500 M euros es por desmantelamiento (impacto futuro en caja/ 1,9% capitalización) y el resto es deterioro de valor. ELE reitera una vez más que este one-off no tendrá impacto en dividendo.  Como esperado, ELE prevé sustituir el carbón (~4,5 Gw/ 20% capacidad pero tan sólo 5% EV) por renovables. ELE dispone de un pipeline de 12 Gw de...

Research Department

IBERIAN DAILY 05 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, ARCELOR MITTAL, IAG, IBERPAPEL, MERLIN PROPERTIES, RED ELÉCTRICA, SANTANDER, SIEMENS GAMESA, TELEFÓNICA. MARKETS YESTERDAY AND TODAY The trade dispute continues to drive the markets European equity markets rose more than +1.0% to 4-year highs amid the improved tone on the trade war and the possibility that tariffs will not be imposed on the Auto sector. Thus, within the Euro Stoxx the biggest gains came in cyclical sectors linked to international trade, such as Basic Materials and Autos, compared to Food and Utilities, which were among the few sectors posting losses...

Research Department

INFORME DIARIO 05 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA. ACERINOX, ARCELOR, IAG, IBERPAPEL, MERLIN, RED ELÉCTRICA, SANTANDER, SIEMENS GAMESA. EUROPA. BMW, DAIMLER, SAP, VOLKSWAGEN El sustento del frente comercial Subidas en Europa superiores al +1,0% hasta los máximos de los últimos 4 años entre el mejor tono sobre la disputa comercial ante la posibilidad de que no se impongan aranceles sobre el sector Autos. Dentro del Euro STOXX protagonizaron las mayores subidas los cíclicos vinculados con el comercio internacional como R. Básicos y Autos frente a Alimentación y Utilities, que fueron de los pocos qu...

Research Department

IBERIAN DAILY 28 OCTOBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKIA, COLONIAL, ELECTRICITY & GAS SECTOR, ENDESA, FERROVIAL, IAG, LAR ESPAÑA, LIBERBANK, MELIÁ, MERLIN PROPERTIES, OHL MARKETS YESTERDAY AND TODAY Anheuser shakes the Food sector European stock markets consolidated highs from the 1Q’18. The Euro STOXX showed a mixed performance, with Retail and Basic Resources being the best performers vs. the drops of Food (Anheuser-Busch shed -10.7% after its results) and Technology. On the macroeconomic level, in Germany October’s IFO came in slightly above expectations although suggesting slowdown in the 4Q’19 GDP vs. 0.4% y/y expected ...

Research Department

INFORME DIARIO 28 OCTUBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, ENDESA, FERROVIAL, IAG, MELIA, OHL, SECTOR ELÉCTRICO Y GAS ESPAÑA, SECTOR SOCIMIS, UNICAJA. EUROPA: LVMH. Anheuser sacude Alimentación Las bolsas europeas consolidaron los máximos desde 1T’18. El Euro STOXX presentó un comportamiento bastante mixto, siendo Retail y R. Básicos los mejores del día frente a las caídas de Alimentación (después de que Anheuser-Busch perdiese un -10,7% tras los resultados) y Tecnología. Por el lado macro, en Alemania el IFO de octubre estuvo ligeramente por encima de las expectativas aunque perfilaría un PIB en...

Javier Esteban

ENDESA: MENSAJES DE LA CONFERENCE CALL RDOS. 9MESES’19 (ANÁLISIS BANCO SABADELL)

De la conference call Rdos. 9meses’19 destacamos pocas novedades:  Provisión de cierre de capacidad en carbón. Estuvo ligeramente por encima de lo esperado (1.400 M euros vs guidance de 1.300 que se compensaron con una menor tasa fiscal). Y del total de la misma, 500 M euros es por desmantelamiento (impacto futuro en caja/ 1,9% capitalización) y el resto es deterioro de valor. ELE reitera una vez más que este one-off no tendrá impacto en dividendo.  Como esperado, ELE prevé sustituir el carbón (~4,5 Gw/ 20% capacidad pero tan sólo 5% EV) por renovables. ELE dispone de un pipeline de 12 Gw de...

Research Department

IBERIAN DAILY 05 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ACERINOX, ARCELOR MITTAL, IAG, IBERPAPEL, MERLIN PROPERTIES, RED ELÉCTRICA, SANTANDER, SIEMENS GAMESA, TELEFÓNICA. MARKETS YESTERDAY AND TODAY The trade dispute continues to drive the markets European equity markets rose more than +1.0% to 4-year highs amid the improved tone on the trade war and the possibility that tariffs will not be imposed on the Auto sector. Thus, within the Euro Stoxx the biggest gains came in cyclical sectors linked to international trade, such as Basic Materials and Autos, compared to Food and Utilities, which were among the few sectors posting losses...

Research Department

INFORME DIARIO 05 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA. ACERINOX, ARCELOR, IAG, IBERPAPEL, MERLIN, RED ELÉCTRICA, SANTANDER, SIEMENS GAMESA. EUROPA. BMW, DAIMLER, SAP, VOLKSWAGEN El sustento del frente comercial Subidas en Europa superiores al +1,0% hasta los máximos de los últimos 4 años entre el mejor tono sobre la disputa comercial ante la posibilidad de que no se impongan aranceles sobre el sector Autos. Dentro del Euro STOXX protagonizaron las mayores subidas los cíclicos vinculados con el comercio internacional como R. Básicos y Autos frente a Alimentación y Utilities, que fueron de los pocos qu...

Research Department

IBERIAN DAILY 28 OCTOBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKIA, COLONIAL, ELECTRICITY & GAS SECTOR, ENDESA, FERROVIAL, IAG, LAR ESPAÑA, LIBERBANK, MELIÁ, MERLIN PROPERTIES, OHL MARKETS YESTERDAY AND TODAY Anheuser shakes the Food sector European stock markets consolidated highs from the 1Q’18. The Euro STOXX showed a mixed performance, with Retail and Basic Resources being the best performers vs. the drops of Food (Anheuser-Busch shed -10.7% after its results) and Technology. On the macroeconomic level, in Germany October’s IFO came in slightly above expectations although suggesting slowdown in the 4Q’19 GDP vs. 0.4% y/y expected ...

Research Department

INFORME DIARIO 28 OCTUBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: BANKIA, ENDESA, FERROVIAL, IAG, MELIA, OHL, SECTOR ELÉCTRICO Y GAS ESPAÑA, SECTOR SOCIMIS, UNICAJA. EUROPA: LVMH. Anheuser sacude Alimentación Las bolsas europeas consolidaron los máximos desde 1T’18. El Euro STOXX presentó un comportamiento bastante mixto, siendo Retail y R. Básicos los mejores del día frente a las caídas de Alimentación (después de que Anheuser-Busch perdiese un -10,7% tras los resultados) y Tecnología. Por el lado macro, en Alemania el IFO de octubre estuvo ligeramente por encima de las expectativas aunque perfilaría un PIB en...

ENDESA SA is slightly downgraded to Slightly Positive due to an increasingly adverse environment

The independent financial analyst theScreener just slightly lowered the general evaluation of ENDESA SA (ES), active in the Conventional Electricity industry. As regards its fundamental valuation, the title confirms its rating of 3 out of 4 stars while its market behaviour remains unchanged and can be qualified as defensive. However, a marginally less favourable environment forces theScreener to downgrade slightly the title, which now shows an overall rating of Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 23.43 and its potential was estimated at EUR ...

MarketLine Department

Red Electrica Corporacion, S.A. - Strategy, SWOT and Corporate Finance Report

Summary Red Electrica Corporacion, S.A. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. KeyHighlights Red Electrica Corporacion, S.A. (Red Electrica or “the company”) is the sole transmission agent and operator of the Spanish electricity system. The company is involved in the transmission of high voltage electricity and it builds, maintains and operates the facilities of the t...

Javier Esteban

ELECTRICITY AND GAS SECTOR REPORT: LITTLE ROOM FOR OPTIMISM (ANÁLISIS BANCO SABADELL)

ELECTRICITY AND GAS SECTOR REPORT: LITTLE ROOM FOR OPTIMISM (ANÁLISIS BANCO SABADELL)

Javier Esteban

INFORME SECTORIAL ELECTRICIDAD Y GAS: POCO ESPACIO PARA EL OPTIMISMO (ANÁLISIS BANCO SABADELL).

INFORME SECTORIAL ELECTRICIDAD Y GAS: POCO ESPACIO PARA EL OPTIMISMO (ANÁLISIS BANCO SABADELL).

Javier Esteban

ELECTRICITY/GAS SECTOR: CIRCULAR LETTERS FROM THE CNMC (ANÁLISIS BANCO SABADELL)

ELECTRICITY/GAS SECTOR: CIRCULAR LETTERS FROM THE CNMC (ANÁLISIS BANCO SABADELL)

Javier Esteban

SECTOR ELECTRICIDAD Y GAS: CIRCULARES DE CNMC (ANÁLISIS BANCO SABADELL)

SECTOR ELECTRICIDAD Y GAS: CIRCULARES DE CNMC (ANÁLISIS BANCO SABADELL)

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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