ENGGF - Snam Is A Best-In-Class Gas Transmission Player
Snam (SNMRF) continues to be our favorite gas transmission pick into Q2. Not only have they continued to expand their asset base, setting up for a more geographically diversified stream of 'toll road' income, but their efforts to expand on the ESG side of things continue. With discrete efforts to get more involved in the energy transition, as well as their higher asset flexibility for the transportation of hydrogen should it become an essential fuel, they position themselves as a long-term player well entrenched in the EMEA utility infrastructure. With a dividend yield