Energiser Investments Share Discussion Threads

[the_alchemist] 15/10/2018 15:23

still waiting to get clarification if the above actually happened.

[the grumpy old men] 15/10/2018 14:50

PARIS (Agefi-Dow Jones) - The title Engie is going through a turbulent year. IT has been in a hurry because of questions about the group's governance, the publication in May of a disappointing quarterly turnover, then by the announcement in June of delays in the agenda of three revisions. nuclear units in Belgium.


Since, "Belgian nuclear is the main source of uncertainty and negative news for Engie," notes Tancrede Fulop, analyst at Morningstar, summarizing a sentiment widely shared among investors.


In the last five months, the title of the gas and electricity supplier has decreased by 20%. At just under 12 euros, it is well below the average price target analysts surveyed by FactSet, 15.56 euros.


The situation in Belgium is a thorny problem for Engie, who said last month that the delays of restarting some Belgian units after a maintenance period have already weighed up to 600 million euros on the gross operating surplus. (Ebitda) and net income group share since the beginning of the year.


Given this impact on Engie's results and the various postponements of the restart of the units concerned, "investors are entitled to wonder from how many exceptional occurrences the problem becomes structural", stress the analysts of Credit Suisse .


A risk on the debt


For the moment, Engie argues that it benefits from a sound financial structure and does not expect any impact of the Belgian difficulties on its net debt / Ebitda ratio. This is still expected to be less than or equal to 2.5 times in 2018, thanks to the offsetting effects of other promising activities, such as services and infrastructure.


The ratio currently targeted is comfortable, says an analyst, while warning that the provisions for Belgian nuclear could still make it difficult to achieve and consolidate in 2019. These difficulties could be accentuated in case of further delays next year or if the bill related to the management of nuclear liabilities in the country were to be revalued upwards.


For this analyst, the risk does exist and could undermine Engie's ability to make a large-scale acquisition of more than ten billion euros.


A view shared by Standard and Poor's, for whom a more aggressive investment policy Engie could lead to a deterioration of its credit rating, currently at "A-", with a stable outlook. "Engie has no significant room for maneuver to make a large debt-financed acquisition," the rating agency says.


And that's where the pack could hurt. The company is very exposed to France, which represents about 40% of its turnover, and has seen its presence in growth areas such as the United States and Asia reduced by the sale of assets in the United States. the coal.


An attractive valuation


Overall, Engie's industrial transformation towards services and renewable energy production activities is welcomed by market operators.


Although financial intermediaries call for caution, the consensus remains largely positive on the title Engie. According to FactSet, 74% of analysts have a "buy" or "overweight" recommendation, 22% are "keep", and 4% are "sell" or "underweight".


According to Credit Suisse calculations, Engie trades on multiples of 11.7 times its profits, against a ratio of 14.6 times for the sector. Engie's current price offers a good entry point on the stock, which has significant medium-term catalysts, such as the rise in electricity prices that is currently not integrated, analysts said.


For J.P.Morgan Cazenove, if Engie lacks catalysts in the short term, its fundamentals are robust and could lead to a revaluation by 2019.


For that, Engie will have to avoid any new quibble by the presentation of its new strategic plan next February.


-Alice Doré, Agefi-Dow Jones; [phone]; [e-mail] ed: ECH


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


October 15, 2018 07:27 ET (11:27 GMT)

[waldron] 15/10/2018 08:38

ENGIE.PA - Bernstein UPS its recommendation to "outperform", according to traders.

[waldron] 15/10/2018 07:50

Engie SA (ENGI.FR) and Caisse de Depot et Placement du Quebec are teaming up to bid up to $9 billion for a Petroleo Brasileiro SA (PBR) gas pipeline network, Bloomberg News reported Friday.

--Media reports this year have mentioned several potential bidders including Abu Dhabi state fund Mubadala Investment Co. According to the Bloomberg report, Engie's earlier bid of $8 billion including debt was the highest.





Write to Josh Beckerman at [e-mail]



(END) Dow Jones Newswires

October 12, 2018 19:32 ET (23:32 GMT)

[the grumpy old men] 13/10/2018 19:44

13/10/2018 | 7:01

PARIS (awp / afp) - The French energy world is in a state of turmoil awaiting the government's energy roadmap with multiple social, economic and environmental consequences, and shaping the sector for the next ten years .

The Multiannual Energy Program (EPP) for the years 2019-2023 and 2023-2028 is expected by the end of October. "The progress of our work allows us to maintain this objective" even if it is "not a day or a week," said this week the Minister of ecological transition and solidarity, François de Rugy.

Sign that the file is complex, the first version of the EPP will be made public several months late, while it was initially expected in late June or early July. And arbitrations will be made at the highest level of the state, says one source from the government.

It is even Emmanuel Macron who should make the announcements, it was learned from concordant sources.

One of the big issues will be to determine the trajectory of the decline of the nuclear power sector in the production of electricity.

France, which produced 72% of its electricity thanks to nuclear power last year, wants to reduce this share to 50% to reduce its dependence on this energy, on a horizon now postponed to 2030 or 2035.

The current fleet includes 58 reactors, including the two at the Fessenheim power station, which are due to close and are already posing a social and political puzzle to the government.

"We do not want (other) reactors to close before 2029 but it's not up to us to decide," said EDF CEO Jean-Bernard Lévy. The electrician wants to extend his reactors to 50 years before stopping some, then smooth closures on the years 2029-2060.

For his part, François de Rugy shows some caution and stresses that the government has already decided the upcoming shutdown of four coal plants, very polluting. "We are very concerned about the security of electricity supply to the French," he says.

A few months ago the former minister Nicolas Hulot promised him a precise "schedule" by the end of the year so "we know what reactors and the number of reactors" that must close.

"Pandora's box"

Some players are even worried about going back on the ambitions in renewable energies, which are supposed to represent 32% of energy consumption and 40% of electricity consumption in 2030.

Because the law on the energy transition of 2015 will have to be revised to integrate the new calendar of the fall of the nuclear power. "It's a little this opening of the Pandora's box that we fear," says Jean-Louis Bal, president of the Union of Renewable Energy (SER), "this is an opportunity for some to review the objectives of energies renewable ".

"We will be extremely vigilant," says Pauline Le Bertre, General Delegate of France wind energy: "We talk about a date, an energy, and the changes must remain confined to that".

The presidents of the Occitania, Pays de la Loire, Brittany and PACA regions, also wrote to the Prime Minister Edouard Philippe to ask him not to forget in the EPP floating wind, emerging sector in these territories.

Other actors are also annoyed by the turn of the debate. Didier Holleaux, deputy director of Engie, denounces scenarios "all electric" or "all nuclear", based on the thesis of a planned increase in power consumption, far from being shared by all.

Biogas or renewable heat are therefore difficult to find a place in discussions, while the EPP concerns the future of all energies and all their uses (heating, transport, etc.), in order to decrease greenhouse gas emissions.

According to many experts, one of the main tools to be mobilized is the reduction of global energy consumption, and France has set itself the goal of halving it by 2050. However, according to Ministry of Ecological Transition, this will not be the case, because of the delay in transportation and building.

mhc-jmi / ef / az

[waldron] 12/10/2018 17:11

Total
52.93 -0.53%


Engie
11.68 -1.52%

Orange
13.465 -1.72%

FTSE 100
6,995.91 -0.16%
Dow Jones
25,214.28 +0.64%
CAC 40
5,095.98 -0.20%


Brent Crude Oil NYMEX 80.08 -0.26%
Gasoline NYMEX 1.92 -0.47%
Natural Gas NYMEX 3.19 -1.36%



BP
558 +0.65%

Shell A
2,478 -0.28%



Shell B
2,510.5 -0.38%

[maywillow] 11/10/2018 18:09

1246/5000
PARIS (Agefi-Dow Jones) - The group of utilities Engie announced Thursday to have won a contract for the supply of an integrated offer for public transport in the city of Santiago de Chile. This contract provides for the leasing of 100 electric buses, the installation and maintenance of charging stations, supplied with 100% certified renewable electricity.


This contract is part of the "transport plan of the third millennium" carried by the President of Chile, Sebastián Piñera, said Engie in a statement. "This plan aims to improve the quality and sustainability of public transport in Santiago, and to make it a zero carbon system by 2040, including the commissioning of 6,000 electric buses," added the French group.


In 2019, the city of Santiago will put 200 electric buses into service, half of which will be supplied by Engie. "Chile will become the second country in the world with the largest fleet of electric buses, behind China," said the gas and electricity supplier.


-Eric Chalmet, Agefi-Dow Jones; 01 41 27 47 95; [e-mail] ed: LBO


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


October 11, 2018 12:39 ET (16:39 GMT)

[waldron] 11/10/2018 17:47

Total
53.21 -3.43%


Engie
11.86 -2.59%

Orange
13.7 -1.05%

FTSE 100
7,006.93 -1.94%
Dow Jones
25,451.65 -0.57%
CAC 40
5,106.37 -1.92%

Brent Crude Oil NYMEX 81.27 -1.35%
Gasoline NYMEX 1.95 -2.12%
Natural Gas NYMEX 3.16 -3.60%










BP
554.4 -2.60%


Shell A
2,485 -3.01%


Shell B
2,520 -3.04%

[waldron] 10/10/2018 17:16

Total
55.1 +0.49%


Engie
12.175 -4.96%

Orange
13.845 +1.84%

FTSE 100
7,145.74 -1.27%
Dow Jones
26,079.69 -1.33%
CAC 40
5,206.22 -2.11%

Brent Crude Oil NYMEX 83.34 -1.77%
Gasoline NYMEX 2.02 -2.43%
Natural Gas NYMEX 3.28 -0.73%




BP
569.2 -1.69%


Shell A
2,562 -1.25%


Shell B
2,599 -1.48%

[waldron] 09/10/2018 17:01

Total
54.83 +1.44%

Engie
12.62 -0.28%

Orange
13.595 -0.07%

FTSE 100
7,237.59 +0.06%
Dow Jones
26,471.91 -0.06%
CAC 40
5,318.55 +0.35%

Brent Crude Oil NYMEX 84.84 +1.22%
Gasoline NYMEX 2.08 +0.09%
Natural Gas NYMEX 3.26 -0.79%


BP
579 +0.42%


Shell A
2,594.5 +0.91%


Shell B
2,638 +1.01%

[waldron] 08/10/2018 17:20

Total
54.05 -1.96%

Engie
12.655 -0.16%

Orange
13.605 -0.37%

FTSE 100
7,233.33 -1.16%
Dow Jones
26,250.9 -0.74%
CAC 40
5,300.25 -1.10%



Brent Crude Oil NYMEX 83.49 -0.57%
Gasoline NYMEX 2.07 -0.45%
Natural Gas NYMEX 3.28 +3.80%




BP
576.6 -2.02%


Shell A
2,571 -1.04%


Shell B
2,611.5 -0.89%

[waldron] 08/10/2018 08:19

Engie's board members considered the future of the 32 percent stake in Suez, say 'Les Echos', and decided to give themselves some time, even though a sell-out scenario holds the cord. The participation currently weighs 2.5 billion euros.

[waldron] 05/10/2018 17:25

Total
56.04 -0.05%


Engie
12.645 -0.47%

Orange
13.655 -0.55%

FTSE 100
7,318.54 -1.35%
Dow Jones
26,374.77 -0.95%
CAC 40
5,359.36 -0.95%


Brent Crude Oil NYMEX 84.45 -0.48%
Gasoline NYMEX 2.09 -0.93%
Natural Gas NYMEX 3.14 -1.57%



BP
588.5 -1.64%


Shell A
2,598 -2.22%



Shell B
2,635 -2.19%

[waldron] 04/10/2018 17:20

Total
56.07 -0.41%


Engie
12.705 -0.70%

Orange
13.73 -0.15%


FTSE 100
7,418.34 -1.22%
Dow Jones
26,605.05 -0.83%
CAC 40
5,410.85 -1.47%



Brent Crude Oil NYMEX 85.06 -1.07%
Gasoline NYMEX 2.10 -1.28%
Natural Gas NYMEX 3.19 -1.48%



BP
598.3 +0.07%


Shell A
2,657 -0.34%



Shell B
2,694 -0.43%

[waldron] 03/10/2018 18:01

Total
56.3 +0.18%


Engie
12.795 +0.20%

Orange
13.75 +1.03%


FTSE 100
7,510.28 +0.48%
Dow Jones
26,936.79 +0.61%
CAC 40
5,491.4 +0.43%


Brent Crude Oil NYMEX 85.29 +0.70%
Gasoline NYMEX 2.12 -0.32%
Natural Gas NYMEX 3.24 +2.37%



BP
597.9 +0.15%


Shell A
2,666 +0.40%


Shell B
2,705.5 +0.52%

[sarkasm] 03/10/2018 13:02

2/10/2018 | 5:29 p.m.


PARIS (AFP) - Battle in view at the National Assembly ": the deputies
must give the go-ahead for disposals of assets held by the State
in Aéroports de Paris, the French Games and Engie (formerly GDF), what
oppositions denounce as an attack on the national heritage.


"The priority of the state is not to receive dividends but
to invest in the future ", just like what the United States and China do,
justifies the Minister of the Economy Bruno Le Maire, ex-LR spent at
LREM.


These disposals must be used to feed a fund of 10 billion
euros for the breakthrough innovation launched at the beginning of the year by the
government. Part could also be devoted to
deleveraging of the state.


The three companies concerned are major players in the sectors of
transport, games and energy. For now, the state holds
50.63% of the shares of Aéroports de Paris (ADP), 72% of La Française des
(FDJ) and 24.1% of Engie, for a total of some 15 billion
euros.


The bill for the growth and transformation of
companies (Pact), on the menu of the National Assembly until Thursday,
intends to remove the legal constraints that force the State to hold the
majority of the shares of ADP, one-third of the capital of Engie, and which freeze the
public holding of the FDJ.


Assignment en bloc or only part of the shares of the State? The
scenario for ADP is not yet stopped but communities
could enter the roundtable, via a MoDem amendment. The
Government does not plan to move quickly out of Engie's capital, and
wants to keep about 20% of the shares of the FDJ (the only one not listed in
Stock Exchange).


It should be the first privatized company in late 2019 or early 2020, according to co-rapporteur Marie Lebec (LREM).


Since the sale of Saint-Gobain in 1986 under the government of
Jacques Chirac, the privatizations never stopped, under nine
governments of right and left.


1942/5000
- "family jewels" -


For the Socialists, "there is no economic justification for this
project that results in the loss of state control over corporations
"The Innovation Fund" could just as easily be
financed by an arrow of the dividends received by the State ", argues the
MP Marie-Noëlle Battistel.


"And it's not a good policy to sell the jewels of
family to repay debt when borrowing at low rates
even at negative rates, "adds Boris spokesman
Vallaud, stressing that ADP "has everything a public service
national".


"There are 3,000 airports in the US, all public.
reasonable to want to dispose of its assets thus ", also
Daniel Fasquelle (LR). "This is a short-term strategy" which
"will deprive the State of recurring and increasing revenues", approves
his colleague Ian Boucard.


"With ADP, we are touching the borders of our country, with everything
that implies in terms of security ", also points the communist
Stéphane Peu, worried about a possible "weakening" of Air France
by a potential increase in royalties.


All of them brandish against the example the privatization of motorways in
2005, which reminds LR, "has led to an increase in prices and a
loss of revenue for the state ".


Faced with these criticisms, Bruno Le Maire promised that privatizations would be done in "an extremely regulated framework".


For ADP, "we will of course maintain the regulation of tariffs and
the sovereign role of the State in border control "and
"we will keep the possibility to terminate the concession in case of fault
or non-compliance with the specifications, "said the minister.


With regard to the FdJ, he said he was "very attached to what we
the possibility of exercising strong control over the risk
addiction "to the games.


Agefi-Dow Jones The financial newswire

[waldron] 02/10/2018 17:36

Total
56.2 -0.30%


Engie
12.77 +1.07%

Orange
13.61 -0.07%


FTSE 100
7,474.55 -0.47%
Dow Jones
26,786.6 +0.51%
CAC 40
5,467.89 -0.71%


Brent Crude Oil NYMEX 84.93 -0.02%
Gasoline NYMEX 2.12 -0.36%
Natural Gas NYMEX 3.17 +1.80%



BP
597 +0.29%


Shell A
2,655.5 +0.26%



Shell B
2,691.5 -0.19%

[the grumpy old men] 02/10/2018 16:34

Grid operator Elia System Operator SA (ELI.BT) said Tuesday that Belgium needs 700-900 megawatts of additional capacity to maintain security of supply through the winter months.

The operator had previously warned the shortfall could reach 1,600-1,700 megawatts.

The shortage is due to the unexpected unavailability of several nuclear power stations operated by Engie SA (ENGI.FR), meaning a capacity-shortfall of 3,000 megawatts until mid-December, equivalent to 25% of the total installed manageable generation capacity in Belgium.

Elia said that despite additional capacity measures announced by the Belgian government of 750 megawatts and the earlier-than-expected completion of maintenance work at nuclear unit Tihange 1, the legal criteria for security of supply haven't yet been met.

However, the company also said Belgium can expect shorter periods of supply difficulties and a lower risk of load-shedding than it expected a week ago.

"Elia urges the government and the market parties to continue seeking ways of providing additional capacity," Elia said in a statement, noting that the situation in January and February will be difficult as import options become more limited.



Write to Cristina Roca at [e-mail] and Alberto Delclaux at [e-mail]



(END) Dow Jones Newswires

October 02, 2018 09:22 ET (13:22 GMT)

[waldron] 01/10/2018 19:07

Total
56.37 +0.95%

Engie
12.635 -0.24%

Orange
13.62 -0.84%


FTSE 100
7,495.67 -0.19%
Dow Jones
26,667.99 +0.79%
CAC 40
5,506.82 +0.24%



Brent Crude Oil NYMEX 84.40 +1.81%
Gasoline NYMEX 2.12 +1.37%
Natural Gas NYMEX 3.10 +3.37%


BP
595.3 +1.02%


Shell A
2,648.5 +0.46%


Shell B
2,696.5 +0.28%

[sarkasm] 01/10/2018 13:51

PARIS (Agefi-Dow Jones) - Credit Suisse lowered Monday's (-1%) forecast of Orange's operating profit for 2019, as well as its price target of € 16 instead of 16.50 euros before. The consulting firm invokes on the one hand the upsurge of promotional offers in the fixed telephony business, and on the other hand its estimate of the group's capital expenditure. They should fall by about 50 million euros according to him next year, instead of a decline of 100 million euros anticipated on average by the consensus. However, Credit Suisse maintains its "outperformance" recommendation on Orange which remains "one of the best positioned operators in the context of a sector subject to continued pressure on profits," says the broker. In particular, "Orange is the only incumbent operator to have clear leadership in the mobile network", while having already made significant investments in FTTH (Fiber to the Home, "Fiber to the Home") , he says. Credit Suisse also believes that Orange will have the strongest balance sheet among the major European players by the end of 2019, "which is interesting in an environment characterized by rising bond yields."


([e-mail]) ed: ECH


Agefi-Dow Jones The financial newswire


(END) Dow Jones Newswires


October 01, 2018 05:33 ET (09:33 GMT)

[waldron] 28/9/2018 17:19

Total
55.84 -0.32%


Engie
12.665 +0.84%

Orange
13.735 -1.01%

FTSE 100
7,510.2 -0.47%
Dow Jones
26,487.34 +0.18%
CAC 40
5,493.49 -0.85%



Brent Crude Oil NYMEX 83.12 +2.15%
Gasoline NYMEX 2.10 +1.69%
Natural Gas NYMEX 3.00 -1.80%



BP
589.3 -0.67%


Shell A
2,636.5 +0.27%

Shell B
2,689 +0.37%