SNMRY News and Press, Snam SpA ADR From 12/20/20

Ariel Investments’ 13F portfolio value increased from $6.57B to $6.89B this quarter. They increased Gilead Sciences while reducing ViacomCBS during the quarter. The top three positions are Baidu, Philip Morris, and Microsoft and they add up to ~15% of the portfolio. F...

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 effo...

Enagas (ENGGY)(ENGGF) is a company that has long vied for a spot in our portfolio against Snam (SNMRF)(SNMRY) as our gas transmission pick. Although this quarter was solid, and bears out the thesis around regulatory utilities , we still have several good reasons to prefer Snam. Some of the En...

Following our article on Red Eléctrica ( RDEIY ), the sole Spanish transmission agent and operator, we decided to analyze the Italian player called Terna ( TERRF ). Similar to other regulated electrical utilities, Terna are in charge of operating the electrical grid under a concession a...

Recently, we have been focusing our research on finding income opportunities in southern European countries, mainly within the regulated utilities sector. We have analysed a few targets with higher yields and attractive valuations, and have found many that are very interesting. In the end, we ...

Red Eléctrica ( RDEIY ) (RDEIF) is the sole transmission agent and operator ((TSO)) of the Spanish electricity system. In their mandate, they are naturally required to supply electricity to Spanish households through the electricity grid, but they are also being required to spend a lot in...

In light of our recent deep-dive into the European regulated utilities sector, we decided to initiate the coverage of Enagás, S.A. ( ENGGF ) (ENGGY), a company that engages in the development and maintenance of gas infrastructures and in the operation and management of complex gas network...

Pipeline companies such as Enterprise Products Partners ( EPD ), Kinder Morgan ( KMI ) and MPLX ( MPLX ) are very well covered by Seeking Alpha contributors, drawn in by their compressed prices and substantial dividend yields. With recent announcements indicating these yields are being sustain...

With many companies still deeply sold-off despite a recovery led by large-cap names, there are many opportunities to find companies that are trading cheaply enough to offer a compelling yield together with the business continuity to maintain it. Across the industries that we cover, we think th...

There is no question that Energy Transfer ( ET ) remains the cheapest large-cap midstream play by nearly every measure. I know it, you know it, the market knows it. Ironically enough, that is the problem looking out into next year. Fresh capital that is currently sitting on the sidelines will ...