ENLAY - Is Europe's Largest Power Company A Safe Bet For Dividend Investors?
Investment Thesis
Despite of being Europe’s largest power company, having a strong footprint in Italy, Spain, Latin America, and performing solid expansion into renewables, Enel Spa still concerns me. The company’s anchor markets have historically fragile economies, its financial fundamentals remain poor, but mostly, the results to shareholders have been too uneven for a business that is supposed to be defensive. While I see some positives in the current turnaround, I remain skeptical of the company as a reliable dividend stock.
The Largest Power Company in the Europe
With its 75 billion euros in revenues