ENGQF - Engie Is Derisked Time To Buy (Rating Upgrade).

2024-03-31 13:51:27 ET

Summary

• Robust earnings profile thanks to the network division. In addition, we are optimistic about GEMS and renewable energy development.
• Engie's dividend yield is 9.2% with a netdebt/EBITDA lower than 4x across the cycle.
• Major risks of nuclear liabilities have been removed. Considering an energy price normalization, Engie is a solid buy.

Here at the Lab, we like utility companies, and our team recently upgraded Enel and E.ON . Today, we are back to comment on Engie ( OTCPK:ENGIY ). On the French player, we were in a Wait-and-See mode, and as reported in our last analysis, we were expecting a reassuring outlook and a simplified business model before changing our valuation . That said, before commenting on the company, we should take a step back and look at the sector. ...

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