Engie Announces Additional Nuclear Outages but Reiterates 2018 Guidance; Shares Undervalued
On Sept. 21, Engie announced significant additional nuclear outages but reiterated its 2018 net income guidance of EUR 2.45 billion-EUR 2.65 billion. This news reflects the fact that Belgian nuclear is the main source of uncertainties and negative news flow for Engie. We could lower our long-term earnings forecasts to bake in lower nuclear production on a permanent basis. However, the impact on our fair value estimate would be limited. For the moment, we reiterate our fair value estimate of EUR ...Engie is an industrial group, based in France, active in the fields of gas, electricity, energy services and the environment. Co. is an energy provider across the entire energy chain, in electricity and in natural gas, including: purchase, production and commercialization of natural gas and electricity; transport, distribution, management and development of major natural gas infrastructures; design and commercialization of energy services and environment-related services. Co.'s activities are conducted through five segments: Energy Europe, Energy International, Global Gas and LNG, Infrastructures, and Energy Services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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