Growth in Renewable Energy and Retail Should Help Enel's 2016 Earnings
We are reaffirming our EUR 3.80 fair value estimate and negative trend, no-moat ratings for Enel after it reported operating data for the first nine months that are in line with our outlook. Although generation volumes were down during the period, Enel's generation capacity also is down 7% since late last year, which means that plant margins are likely to be stronger when the company releases final financial data for the third quarter on Nov. 10. Renewable energy was the only area of generation ...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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