IBDSF - Iberdrola: Renewable And Regulated Mean Dividend All But Guaranteed
Following our deep-dive analysis within the European regulated utilities sector, we came across to Iberdrola (IBDSF) (IBDRY), a Spanish holding company that engages in the generation, distribution, trading, and marketing of electricity. We are overweighting the European utilities sector with a positive view on Snam (SNMRF) and Enel (ENLAY) thanks to increasing regulated network assets with high predictability cash flow based on new regulatory frameworks.
Additionally, due to the COVID-19 pandemic, there is a growing consensus in the EU about the role climate action can play in this crisis.