SSE's Attractive Renewables Pipeline Offers Optionality
We reiterate our fair value estimate of GBX 1,380 per share and our narrow-moat, stable trend ratings after SSE released 2019 fiscal-year results in line with estimates. The Labour Party's threat of nationalising the network might weigh on the share price for some time. Still, the undervaluation of the shares and 2020 dividend yield of 7.7% give a safety margin to patient investors.Adjusted earnings per share tumbled 32% to GBX 67, within the GBX 64 to GBX 69 guidance range and in line with the...
SSE is engaged in producing, generating, distributing and supplying electricity and gas, as well as other energy-related services, across the U.K. and Ireland. Co. has three principal business areas: Wholesale, which uses turbines to convert energy from gas, oil, coal, water and wind to generate electricity, trading in wholesale energy markets, and managing energy contracts; Networks, which transmits and distributes electricity and gas to homes and workplaces; and Retail, which supplies electricity and gas and related services to households and organizations.
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