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
Research Department

IBERIAN DAILY 16 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ENDESA, GRUPO CATALANA OCCIDENTE, MELIÁ HOTELS. MARKETS YESTERDAY AND TODAY Recovery on the market The strong losses at the beginning of the session (around -2%) were reduced from intraday lows after it was learned that the ECB increased its purchases through the PEPP (€ 27.13 Bn), +6.5% more than the previous week. Within the Euro STOXX, the best-performing sectors were Construction and Industrials, with Retail and Food posting the biggest losses. On the macro side, in the US, June’s Empire index recovered much more than expected, closing in on positive territory. From the Fed...

Research Department

IBERIAN DAILY 12 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKING SECTOR, CELLNEX, CHANGES IBEX ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR. MARKETS YESTERDAY AND TODAY Profit taking after the Fed Sharp falls in European markets >-4% dragged down by the Fed’s dovish stance and fears about a second round of contagion mainly in the US following the recent rallies. In the Euro STOXX, all sectors ended in negative territory, with Consumer Goods and Pharma being the best performers vs. Automobiles and Banks that saw the biggest losses. On the macroeconomic level, in Italy, April’s industrial output fell more than expected to -42.5% YoY. In...

Research Department

INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: AEDAS, CELLNEX, ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR, SECTOR BANCOS. EUROPA: INTESA, SAFRAN, UNILEVER. Toma de beneficios de los mercados tras la Fed Caídas pronunciadas en los mercados europeos por encima del -4% lastradas por la visión muy dovish de la Fed y los miedos a una segunda oleada de contagios sobre todo en EE.UU. tras los fuertes rebotes recientes. Dentro del Euro STOXX todos los sectores cerraron con pérdidas, con Bienes de Consumo y Farma mostrando el mejor comportamiento relativo frente a Autos y Bancos que sufrieron las may...

Alfredo del Cerro ...
  • Javier Esteban

UTILITIES SECTOR REPORT: FISHING IN TROUBLED WATERS (ANÁLISIS BANCO SABADELL)

ELE, IBE and ENAG are our top picks. Today we are releasing our annual report on the utilities sector. Following a widespread market correction, the sector’s multiples continue to be demanding with respect to the market in general (13-15x P/E). However, in absolute terms, the stocks have fallen by as much as -25%, meaning that, even being selective, we continue to find long-term bets on the sector. In ELE, despite its good relative performance (+11% vs. IBEX since highs/-23% in absolute terms), we changed our recommendation to BUY, setting a T.P. of € 26.07/sh. (+27% upside/+6% increase). In I...

ENDESA SA sees an upgrade to Slightly 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 3 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 May 26, 2020, the closing price was EUR 20.72 and its potential was estimated at EUR 23.29.

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 €.

Research Department

IBERIAN DAILY 16 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: ENDESA, GRUPO CATALANA OCCIDENTE, MELIÁ HOTELS. MARKETS YESTERDAY AND TODAY Recovery on the market The strong losses at the beginning of the session (around -2%) were reduced from intraday lows after it was learned that the ECB increased its purchases through the PEPP (€ 27.13 Bn), +6.5% more than the previous week. Within the Euro STOXX, the best-performing sectors were Construction and Industrials, with Retail and Food posting the biggest losses. On the macro side, in the US, June’s Empire index recovered much more than expected, closing in on positive territory. From the Fed...

Research Department

IBERIAN DAILY 12 JUNE (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKING SECTOR, CELLNEX, CHANGES IBEX ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR. MARKETS YESTERDAY AND TODAY Profit taking after the Fed Sharp falls in European markets >-4% dragged down by the Fed’s dovish stance and fears about a second round of contagion mainly in the US following the recent rallies. In the Euro STOXX, all sectors ended in negative territory, with Consumer Goods and Pharma being the best performers vs. Automobiles and Banks that saw the biggest losses. On the macroeconomic level, in Italy, April’s industrial output fell more than expected to -42.5% YoY. In...

Research Department

INFORME DIARIO 12 JUNIO (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: AEDAS, CELLNEX, ENDESA, FCC, MASMOVIL, RED ELÉCTRICA, SACYR, SECTOR BANCOS. EUROPA: INTESA, SAFRAN, UNILEVER. Toma de beneficios de los mercados tras la Fed Caídas pronunciadas en los mercados europeos por encima del -4% lastradas por la visión muy dovish de la Fed y los miedos a una segunda oleada de contagios sobre todo en EE.UU. tras los fuertes rebotes recientes. Dentro del Euro STOXX todos los sectores cerraron con pérdidas, con Bienes de Consumo y Farma mostrando el mejor comportamiento relativo frente a Autos y Bancos que sufrieron las may...

Alfredo del Cerro ...
  • Javier Esteban

UTILITIES SECTOR REPORT: FISHING IN TROUBLED WATERS (ANÁLISIS BANCO SABADELL)

ELE, IBE and ENAG are our top picks. Today we are releasing our annual report on the utilities sector. Following a widespread market correction, the sector’s multiples continue to be demanding with respect to the market in general (13-15x P/E). However, in absolute terms, the stocks have fallen by as much as -25%, meaning that, even being selective, we continue to find long-term bets on the sector. In ELE, despite its good relative performance (+11% vs. IBEX since highs/-23% in absolute terms), we changed our recommendation to BUY, setting a T.P. of € 26.07/sh. (+27% upside/+6% increase). In I...

Javier Esteban

ENDESA: 1Q’20 RESULTS (ANÁLISIS BANCO SABADELL)

1Q'20 vs. 1Q'19 Results EBITDA: € 1.476 Bn (+59.1% vs. +10.6% expected and +15.3% expected by the market consensus); EBIT: € 1.118 Bn (+114.2% vs. +29.5% expected and n/a expected by the market consensus); Net Profit: € 844.0 M (+132.5% vs. +32.2% expected and +39.4% expected by the market consensus). The company released good 1Q'20 Results at yesterday’s close, marked by one-offs with a net positive impact of € 376 M BS(e) in EBITDA and (€ 312 M BS(e) in Net Profit) if excluded, EBITDA would be +7% above our expectations and +3% above the consensus and Net Profit +11%/ +5%, respectively. The...

ENDESA SA sees an upgrade to Slightly 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 3 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 May 26, 2020, the closing price was EUR 20.72 and its potential was estimated at EUR 23.29.

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...

Expert Corporate Governance Service (ECGS)

Endesa – AGM 5 May 2020

In item 5, the Board proposes to distribute a final dividend of €0.775 per share for an aggregate of €1.475 on 2019 results, to be paid on 1 July 2020, in line with Endesa's dividend policy. We regret that it is not fully covered by free cash flow in 2019. Furthermore, in view of the recent events regarding COVID-19, ECGS recomends that companies postpone decisions concerning dividends to avoid liquidity or financial risks. Therefore, we advise that shareholders oppose this resolution.   Ms. González de Frutos, Ms. Bieto Caubet and Ms. Koplowitz Romero de Juseu are proposed to be elected as ...

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...

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