Red Electrica is one of few European utilities that can increase its dividend at a steady rate.
We will be maintaining our EUR 18 per share fair value estimate--following the 4-1 stock split earlier in July--after Red Electrica announced first-half 2016 EBITDA rose 2% to EUR 754 million from EUR 740 million primarily on cost-cutting and a new regulatory regime for transmission pricing. Net income rose nearly 5% on a lower tax bill and a decline in financing costs. Our forecast for 2016 EBITDA is EUR 1.5 billion, though Red is on pace to beat that projection.With the publication of Spain's...
Red Electrica is engaged in the transmission of electrical energy, the operation of the system and the management of the transmission network in the Spanish electricity system. In addition, through its subsidiaries, Co. is engaged in the acquisition, holding and management of foreign securities, co-ordination of international exchanges, provision of telecommunications services for third parties, provision of consultancy, engineering and construction services outside the Spanish electricity system, securing of funds, carrying out of financial transactions and provision of financial 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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