Efficiencies and Tariffs Increases Offset Poor LNG Performance in Naturgy's First-Quarter Results
We reiterate our fair value estimate of EUR 24.6 per Naturgy share along with our narrow-moat, stable trend ratings after the group released first-quarter results in line with consensus expectations and left its full-year targets unchanged. Shares look fairly valued.ÂOrdinary EBITDA grew 6% to EUR 1.17 billion. Reported EBITDA came in at EUR 1.12 billion, up 6% and in line with consensus expectations. The difference between ordinary and reported figures comes from restructuring costs of EUR 50 ...
Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).
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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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