Outlook for Gas Utilities Remains Promising; ENN Energy Our Preferred Pick
We are adding ENN Energy to the Best Ideas list as we believe the shares are currently undervalued following what we think are unfounded concerns about the removal of connection fees for new residential town gas users. We reiterate our fair value estimate of HKD 83 per share along with our narrow moat and stable trend ratings.ÂENN owns exclusive rights on its city gas operations in China with contracts that extend for decades, and the recent share price pullback on concerns of cancellation of c...
ENN Energy Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the gas supply business in the People's Republic of China, including but not limited to the sales of piped gas, gas connection, construction and operation of vehicles gas refuelling stations, wholesale of gas, sales of other energy and sales of gas appliances and materials.
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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