Enel Societa Per Azioni is engaged in the generation and sale of electricity through its Generation, Energy Management and Sales Italy Division. Co. is also engaged in the distribution of electricity (Enel Distribuzione) and public and artistic lighting (Enel Sole) in Italy through its Infrastructure and Networks Division. Co.'s Iberia and Latin America Division coordinates Co.'s operations in the electricity and gas markets in Spain, Portugal and Latin America. Co.'s Engineering and Research Division manages the engineering processes related to the development and construction of power plants. Co.'s other divisions are the International Division as well as the Renewable Energy Division.
  • TickerENEL
  • ISINIT0003128367
  • SectorElectricity
  • CountryItaly

Analysts

Enel Americas S.A., Enel S.p.A.: Proposed capital increase is credit positive for Enel Americas

Proceeds of the announced up to U$3.5 billion capital increase will be directed to pay down debt.

Enel – 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...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Kering and Enel

Kering (KERFP) published its FY18 report card this morning, which showed consolidated revenue jump to €13,665m, which equates to 26.3% reported growth or 29.4% growth on a comparable basis. All regions contributed positively to growth, led by North America. Growth was driven by Gucci (61% of FY18 revenue), which posted comparable growth of +36.9%. This in turn was underpinned by strong momentum in Asia-Pacific (+45%) and North America (+43.6%). Yves Saint Laurent increased 18.7% on a comparable basis, while Other Houses recorded comparable growth of 32.1%, driven by Balenciaga and Alexander Mc...

Enel SPA

Enel SPA

Enel Americas S.A., Enel S.p.A.: Proposed capital increase is credit positive for Enel Americas

Proceeds of the announced up to U$3.5 billion capital increase will be directed to pay down debt.

ENEL S.p.A.: Semi-annual update to credit analysis

Enel's credit quality is supported by a solid business risk profile, progress on delivery of its strategy and deleveraging.

ENEL S.p.A.: Key Facts and Statistics - FYE December 2017

A summary company profile, detailing Enel SpA ’s business operations and financial highlights.

ENEL S.p.A.: Acquisition of Eletropaulo strengthens group's position in Brazil at a manageable cost

Enel's acquisition of Eletropaulo reinforces its Brazilian distribution operations.

Moody's assigns Ba1 rating to hybrid notes to be issued by ENEL S.p.A.; stable outlook

Moody's Investors Service, ("Moody's") has today assigned a Ba1 long-term rating to the Capital Securities (the junior subordinated "Hybrid"), to be issued in two tranches by Enel S.p.A. ("Enel"). The rating outlook is stable in line with that of Enel. The size and...

Enel SPA

Enel SPA

Enel SPA

Louis Boujard ...
  • Philippe Ourpatian

Enel : Des données préliminaires 2018 en ligne avec nos attentes

>Recommandation et objectif de cours inchangés - Suite à la publication des résultats préliminaires 2018 en première approche en ligne avec nos estimations, la recommandation Neutre est maintenue. L’atteinte de la guidance d’EBITDA est une bonne nouvelle, qui doit être confirmée sur les autres lignes du compte de résultats et du bilan. La dette nette se situe à 41,1 Md€ en ligne avec la borne inférieure de la guidance (41,0 Md€/42,0 Md€) ce qui est également une bonne...

Louis Boujard ...
  • Philippe Ourpatian

Enel : Preliminary 2018 results in line with our forecasts

>Recommendation and target price unchanged - Following the publication of 2018 preliminary results which, on the face of it, are in line with our estimates, we maintain our Neutral recommendation. Meeting EBITDA guidance is good news, which needs to be confirmed on the other lines of the P&L and balance sheet. Net debt stands at € 41.1bn, in line with the lower end of the guidance range (€ 41.0- / 42.0bn), which is also good news. Our target price remains unchanged at...

1 director bought

A director at Enel SPA bought 100,000 shares at 4.690EUR and the significance rating of the trade was 74/100. 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 mem...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/07/2019

The stabilisation of eurozone PMI indices in January contributes, albeit still modestly, to the abating of the excessive risk aversion end-2018. This is in addition to the welcome change in the Fed’s tone with the announced pause in monetary normalisation, pushing back the spectre of recession. Against this backdrop, the decent nature of results publications is contributing to the improvement in sentiment. However, questions about growth, or rather its rate of deceleration, persist. I...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/02/2019

La stabilisation des PMI Eurozone en janvier contribue, encore modestement, au reflux de l’excessive aversion au risque de la fin 2018. Ceci s’ajoute au bon accueil du changement de ton de la FED avec la pause annoncée dans la normalisation monétaire et repousse le spectre de la récession. Dans ce contexte, le caractère convenable des résultats participe à l’amélioration du sentiment. Pour autant les questions sur la croissance, ou plutôt son rythme de ralentissement, ne sont pas levé...

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

...

Jean Sassus ...
  • Johanna Jourdain
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Corby
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/21/2018

While Dassault Aviation is capitalising on the upturn in the business jet market, we think that the market does not value this business and may even attribute a negative value to it. The still favourable trend in defence and the stronger dollar are also support factors. Upside is enough to move to a Buy recommendation, with a target price unchanged at € 1,800. Cf company research published yesterday evening. - - ...

ENEL SPA with less fundamental stars is reduced to Neutral

ENEL SPA (IT), a company active in the Conventional Electricity industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date January 22, 2019, the closing price was EUR 5.17 and its expected value was estimated at EUR 4.9...

Enel SPA

Enel SPA

Enel SPA

Enel SPA

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Kering and Enel

Kering (KERFP) published its FY18 report card this morning, which showed consolidated revenue jump to €13,665m, which equates to 26.3% reported growth or 29.4% growth on a comparable basis. All regions contributed positively to growth, led by North America. Growth was driven by Gucci (61% of FY18 revenue), which posted comparable growth of +36.9%. This in turn was underpinned by strong momentum in Asia-Pacific (+45%) and North America (+43.6%). Yves Saint Laurent increased 18.7% on a comparable basis, while Other Houses recorded comparable growth of 32.1%, driven by Balenciaga and Alexander Mc...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Orange, UniCredit and Enel

Orange's (ORAFP) CEO Stephane Richard sees a new opportunity for possible discussions on consolidation in France in 1H19. He voiced his opinion in an interview with the French newspaper Les Echos. The renewed price war in France will “inevitably lead us to raise the question of market consolidation”, according to the CEO, but Orange can't lead the process because of anti-trust issues and he is not aware of any existing plans or talks. We continue to view Orange as one of most defensive names in the sector and don't expect an impact on spreads on the back of this news. (open document to read fu...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/ABN AMRO, Credit Agricole, Ahold Delhaize, Veolia and Enel

ABN AMRO (ABNANV) reported higher earnings and improved CET1 ratio. The bank indicated to increase its dividend payout ratio as a consequence. ABN AMRO meets its MREL ratio currently also with preferred debt, something that is unlikely to change in 2019, but we expect it to issue NPS next year. ABN AMRO reported a net profit of €725m for 3Q18, up by 8% YoY. Higher revenues fully offset the somewhat higher cost base. The cost-to-income ratio improved to 52.9% 3Q18 from 56.9% in 3Q17. (For full story, please download report)

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier

Coffee, Croissants & Credit/EDP could benefit from China Three Gorges' renewables

China Three Gorges (YANTZE) announced it would transfer to EDP (EDPPL) its own wind and hydro assets based overseas. EDP would gain c.€1bn in EBITDA and boost the company's power generation capacity by 30%. The move is expected to support China Three Gorges' initial €9.1bn offer which has been considered too low by the Portuguese board of directors. Credit positive. After winning the battle against Iberdrola (IBESM) over the 73% acquisition of Eletropaulo Brazil's capital for c.€1.3bn, Enel (ENELIM) announced Eletropaulo will spend about €900m in capex between 2019 and 2021. The Italian utili...

MarketLine Department

CEZ, a. s. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's CEZ, a. s. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by CEZ, a. s. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights T...

MarketLine Department

RWE AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's RWE AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by RWE AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This repo...

GlobalData Department

Enel SpA (ENEL) - Power - Deals and Alliances Profile

Summary Enel SpA (Enel) is an integrated electricity and gas company that produces, distributes and trades electricity and natural gas. The group generates electricity using diverse sources of energy such as nuclear, renewables, oil and gas turbine, coal and gas combined cycle. It also focuses on digitizing electricity grids in emerging markets. In partnership with research centers, scientific institutions and universities, Enel develops technologies and solutions. It serves both residential and industrial customers. The company has operational presence in Europe, North America, Latin America...

Enel SpA (ENEL) - Power - Deals and Alliances Profile

Summary Enel S.p.A. (Enel) is an energy group that produces, distributes and trades electricity and natural gas. The group generates electricity using diverse sources of energy such as nuclear, renewables, oil and gas turbine, coal and gas combined cycle. It also focuses on digitizing electricity grids in emerging markets. In partnership with research centers, scientific institutions and universities, Enel develops technologies and solutions. It serves both residential and industrial customers. The company has operational presence in Europe, North America, Latin America, Africa and Asia. Enel...

Enel SpA (ENEL) - Oil & Gas - Deals and Alliances Profile

Summary Enel S.p.A. (Enel) is an energy group that produces, distributes and trades electricity and natural gas. The group generates electricity using diverse sources of energy such as nuclear, renewables, oil and gas turbine, coal and gas combined cycle. It also focuses on digitizing electricity grids in emerging markets. In partnership with research centers, scientific institutions and universities, Enel develops technologies and solutions. It serves both residential and industrial customers. The company has operational presence in Europe, North America, Latin America, Africa and Asia. Enel...

Enel – 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...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 04/05/2017

In item 6, the AGM is called to appoint the Board of Directors on slates of nominees submitted by shareholders holding, even jointly, at least 0.5% of the share capital. Two slates of nominees have been submitted, respectively by the Ministry of Economy (23.6% of the share capital) and a group of institutional investors (1.9%). One of the institutional investors that submitted the slate of nominees is Generali Investments, which is a client of ECGS partners Proxinvest and Frontis Governance. It is important to note that these partners do not provide consulting services to Generali. Voting advi...

Jérôme VINERIER

Short term view - ENEL : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €4.230. The background trend would be questioned should prices rise above €4.600.

Jérôme VINERIER

Analyse court terme - ENEL : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,230 €. La tendance de fond serait remise en cause en cas de franchissement de 4,600 €.

Jérôme VINERIER

Analyse court terme - ENEL : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 4,230 €. La tendance de fond serait remise en cause en cas de franchissement de 4,600 €.

Jérôme VINERIER

Short term view - ENEL : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €4.230. The background trend would be questioned should prices rise above €4.600.

Jérôme VINERIER

Analyse moyen terme - ENEL : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch