ENIA - Enel Americas Has Projects In The Pipeline At Good Returns

October, 20 2021 11:06 AM Enel Americas S.A. American Depositary Shares

ENIA is focused on replacing a 14% oil and gas exposure with more renewable projects, which already dominate their asset base.
These projects will be focused on wind power, mostly in Brazil.
We believe that the currently small wedge between ROIC and WACC can be widened by these wind projects.
The dividend reduction from previous years comes at an appropriate moment for the company, where capital can be driven into nicely returning projects.
The energy crisis means that this might not be the best timing for a utility investment, but we will continue to look closely at ENIA.

For further details see:

Company Name:	Enel Americas S.A. American Depositary Shares
Stock Symbol:	ENIA
Market:	NYSE