ENEL and its subsidiaries are involved in the generation, distribution and sale of electricity, providing the majority of the electric service in Italy. Gas distribution and sale, fuel trading, engineering and contracting represent the other principal activities of Co. International operations... More
Thu, Apr. 3, 12:37 PM
- Cheniere Energy (LNG -1.7%) reportedly is close to securing its second large supply deal this week, as it nears a 20-year deal with Italian utility Enel (ENLAY) for 1B cubic meters/year of gas.
- Earlier this week, LNG signed a 20-year supply deal with Spanish utility Endesa for gas from its proposed Corpus Christi plant in Texas.
- LNG already has secured several sales deals from its Sabine Pass export plant in Louisiana and is now focusing on locking in customers for the Texas plant, even though U.S. regulators have not yet approved that site for exports.
- Shares may be lower today because of a Credit Suisse downgrade to Neutral from Outperform, as LNG has climbed ~35% in two months and many of the company's near-term positives have been priced in.
Wed, Mar. 12, 8:18 AM
- European utilities E.ON (EONGY) and Enel (ENLAY) cut their annual dividends as part of cost saving programs in response to falling power prices.
- E.ON is reducing its dividend to €0.60/share vs. €1.10/share paid out last year, but investors are reacting positively to a further reduction in debt, to €32B at the end of 2013 from €35.8B at the end of 2012.
- Enel is cutting its dividend by 13% to €0.13 but says it will lift its payout ratio to at least 50% of ordinary net profit, which excludes special items, from its current payout policy of at least 40%; it plans to sell assets worth ~€4.4B and cut costs further in a bid to chip away at its huge debt by a further 7.3% this year.
Tue, Jan. 21, 11:46 AM
- Talisman Energy (TLM +0.8%) reportedly rejected a $17B takeover offer from French utility GDF Suez (GDFZY, GDSZF), as the two sides failed to agree on terms in December and have not been in contact since.
- However, U.S.-based utility AES Corp. (AES +0.4%) may still be in GDF’s sights given its footprint in places such as Colombia, where GDF does not operate: GDF's Chinese partner, CIC, is an 8% shareholder in AES, which could ease financing and help get support for a deal.
- Beyond TLM and AES, sources say GDF also could look at smaller portfolios of assets in Latin America worth $5B-$10B, such as assets held by Duke Energy (DUK +0.9%) and Italy's Enel (ENLAY).
Jun. 20, 2013, 3:47 PMGazprom (OGZPY.PK) is set to acquire its first power plant in Western Europe, striking a provisional agreement with Italy's Enel (ENLAY.PK) to buy the 405 MW Marcinelle power plant in Belgium, valued by Enel at ~$265M. The deal fulfills Gazprom's long-held ambition to deepen its presence in its largest market even as it turns its focus to supplying energy-hungry Asian consumers. | Jun. 20, 2013, 3:47 PM | Comment!
Oct. 18, 2011, 12:25 PMItalian utility Enel (ENLAY.PK) sells €1.25B of 4 year paper at a lower yield than the government pays for an equivalent maturity. The bonds were priced to yield 4.625% vs 5.20% for the state. The company also sold €1B in 7 year debt at 5.75%, about the same as the government pays. | Oct. 18, 2011, 12:25 PM | Comment!