Enel Releases 2018 Final Results in Line With Expectations, Confirms 2019 Targets
Enel published its final 2018 results and confirmed its 2019 targets. We plan to raise our earnings forecasts and EUR 5.70 per share fair value estimate slightly on the strong results and outlook. We are reaffirming our no-moat and stable trend ratings. Enel confirmed a 2018 dividend at EUR 0.28 per share, up by 18% and implying a dividend yield of 5% as of mid-March.Ordinary EBITDA of EUR 16.2 billion, up by 4% and in line with our estimates, had already been disclosed at preliminary results i...
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.
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