Enagas S.A.

Enagas is a gas transportation company based in Spain. Co. is engaged in the technical distribution and storage of gas through pipelines as well as the provision of regasification services. Co. and subsidiaries are engaged in the ownership, administration, storage, pipeline transportation, distribution flow, and sale of natural gas. As a transport company, Co. also provides gas and manages the gas infrastructures.
  • TickerENG
  • ISINES0130960018
  • ExchangeMadrid Stock Exchange
  • SectorGas, Water & Multi-utilities
  • CountrySpain

Analysts

Victor Peiro Pérez

ENAGAS - 1Q19 results in line with full year forecasts

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.

1 director bought

A director at Enagas Sa bought 960 shares at 25.890EUR and the significance rating of the trade was 52/100. 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 membe...

Expert Corporate Governance Service (ECGS)

Enagas, March 28 2019

In item 6.1, the Board proposes to ratify the appointment of Mr. Santiago Ferrer Costa as non-executive Director representing the largest shareholder SEPI (5%), which is a holding company controlled by the Spanish State. Concerns may arise on the overrepresentation of SEPI on the Board (15% of Directors with 5% of shares), and we also note that at least 6 other Directors have, or have had, significant relationships with State's institutions. Also taking into account the insufficient independent representation on the Board (38% as per the ECGS' guidelines and 62% according to the Company), we r...

Jorge Guimarães

Iberian Energy Monthly: February: mild weather impacts demand

The month of February was characterized by a generally mild weather pattern in Iberia, which impacted electricity demand, down 4.8% yoy to 24.3TWh (YTD -0.7% yoy). February was also weak in terms of hydro (3.6TWh, up yoy but 35% below the 5Y avg) and especially wind production, where the output of 4.5TWh was down 22% yoy and 34% below the 5Y avg (and the lowest February wind production of the last 8 years). However, the low wind/water impact on prices was cushioned by the low demand, with the thermal gap down yoy (-19% to 5.9TWh), while commodity prices were also marginally down vs Feb-18 (Bre...

Victor Peiro Pérez

ENAGAS - 1Q19 results in line with full year forecasts

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.

Jorge Guimarães

Iberian Energy Monthly: February: mild weather impacts demand

The month of February was characterized by a generally mild weather pattern in Iberia, which impacted electricity demand, down 4.8% yoy to 24.3TWh (YTD -0.7% yoy). February was also weak in terms of hydro (3.6TWh, up yoy but 35% below the 5Y avg) and especially wind production, where the output of 4.5TWh was down 22% yoy and 34% below the 5Y avg (and the lowest February wind production of the last 8 years). However, the low wind/water impact on prices was cushioned by the low demand, with the thermal gap down yoy (-19% to 5.9TWh), while commodity prices were also marginally down vs Feb-18 (Bre...

Jorge Guimarães

Iberian Energy Monthly: January: strong demand, little water

The first month of 2019 was characterized by strong levels of electricity demand, with Iberian demand up 3.1% yoy to 28.2TWh (highest value for Jan in 8 years), also due to weather effects. Wholesale electricity prices also started the year on the rise, with an avg pool price of Eur62.0/MWh in January, +22.9% vs Jan-18, 27.3% above the 2014/18 avg. Although the month was favourable in terms of wind production (7.4TWh, +11.1% yoy and 9.3% above the 5Y avg), it was dry, which had an impact on hydro production (@ 3.2TWh, was marginally up (+3.8%) vs a weak Jan-18 but 31.7% below 5Y avg levels. Th...

Jorge Guimarães

Utilities: Iberian TSOs: look for value in Portugal

We are reviewing our valuations for the Iberian TSOs (and rolling over our FVs to 2019), and also introducing our revised view about the regulatory outlook for the companies under our coverage. Regarding electricity transmission in Spain, we align our ROR (Rate of Return) expectation with that of the CNMC, while believing the regulator will not be too harsh on REE concerning pre-1998 assets. On gas in Spain, we believe that over the medium term the regulator may try to simplify the remuneration mechanism, thus we have a LT central scenario based on an extended RAB and a ROR similar to that for...

1 director bought

A director at Enagas Sa bought 960 shares at 25.890EUR and the significance rating of the trade was 52/100. 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 membe...

For ENAGAS SA, the environment deterioration entails a downgrade to Neutral

ENAGAS SA (ES), a company active in the Gas Distribution industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as moderately risky. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date January 18, 2019, the closing price was EUR 25.02 and its expected value was estimated at EUR 24.27.

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...

Enagas SA (ENG) - Oil & Gas - Deals and Alliances Profile

Summary Enagas S.A. (Enagas) is a midstream energy company. It develops and maintains gas infrastructure; and operates and maintains gas networks. The company transports natural gas to distribution points. Enagas also carries out regasification and storage of natural gas. Enagas is the technical manager of the Spanish gas system; and certified independent Transmission System Operator. It serves transmission companies, distributors, shippers, and direct consumers in Europe, South America, and North America. The company has regasification plants, compressor stations, and underground storage fac...

Expert Corporate Governance Service (ECGS)

Enagas, March 28 2019

In item 6.1, the Board proposes to ratify the appointment of Mr. Santiago Ferrer Costa as non-executive Director representing the largest shareholder SEPI (5%), which is a holding company controlled by the Spanish State. Concerns may arise on the overrepresentation of SEPI on the Board (15% of Directors with 5% of shares), and we also note that at least 6 other Directors have, or have had, significant relationships with State's institutions. Also taking into account the insufficient independent representation on the Board (38% as per the ECGS' guidelines and 62% according to the Company), we r...

Enagas – 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

Short term view - ENAGAS : The trend is uncertain.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €25.00.

Jérôme VINERIER

Analyse court terme - ENAGAS : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 25,00 €.

Jérôme VINERIER

Short term view - ENAGAS : Prices recovered.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €25.00.

Jérôme VINERIER

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

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 25,00 €.

Valérie GASTALDY

Analyse moyen terme - ENAGAS : La correction gagne en vigueur.

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 19,51 €.

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