|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||53.35 - 53.55|
|52 Week Range||35.05 - 53.55|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||65.28|
|Forward Dividend & Yield||2.13 (4.18%)|
|Ex-Dividend Date||May 12, 2019|
|1y Target Est||62.36|
American companies have a strong interest in expanding Portugal's deepwater port of Sines due to its strategic position for liquefied natural gas (LNG) exports to Europe, U.S. Energy Secretary Dan Brouillette said on Wednesday. Portugal launched an international tender in October for a contract to build and operate a new container terminal in Sines, continental Europe's closest port to the Panama Canal.
The Ba2 rating assigned to the Hybrid is two notches below EDP's issuer rating of Baa3, reflecting the features of the Hybrid. Its maturity is in excess of 60 years, it is deeply subordinated and EDP can opt to defer coupons on a cumulative basis. As the Hybrid's rating is positioned relative to another rating of EDP, a change in either (1) Moody's relative notching practice or (2) the senior unsecured rating of EDP could affect the Hybrid's rating.
Moody's América Latina Ltda., ("Moody's") assigned a Ba2 global scale and Aa1.br national scale ratings to Babilonia Holding S.A.'s ("Babilonia", the "project" or the "issuer") BRL87 million senior secured debentures due in 2033, to be issued in the form of infrastructure debentures pursuant to law 12,431. This is the first time that Moody's assigns ratings to the project's securities. The ratings also consider the standard project finance features that offer protection to creditors, as well as Moody's perception of strong sponsor commitment to the project provided by EDP Renováveis Brasil S.A. (EDPR-Brasil, unrated), an indirect subsidiary of EDP -- Energias de Portugal, S.A. (Baa3, stable).
Moody's América Latina Ltda., ("Moody's") has today affirmed EDP -- Energias do Brasil S.A.'s (EDB) corporate family ratings at Ba2 on global scale rating and Aa2.br on the Brazilian national scale (NSR). At the same time, Moody's upgraded EDB's senior unsecured debentures to Ba2/Aa2.br from Ba3/A1.br.
Activist investor Elliott called on Thursday for shareholders in EDP-Energias de Portugal to reject a reform of voting rights, in a move that could scupper a 9-billion-euro (£7.70 billion)takeover offer for EDP from China Three Gorges (CTG). CTG launched its bid for the utility in May 2018 on the condition that a 25-percent voting right limit was scrapped. All EDP shareholders have to keep to that limit, regardless of the stake they hold.
LONDON/SAO PAULO (Reuters) - Portugal's Energia de Portugal EDP could propose a joint venture with China Three Gorges (CTG) allowing CTG to expand its foothold in Brazil and Latin America if the Chinese power giant's bid to take over EDP fails, people familiar with the matter said. CTG, EDP's main shareholder with a 23 percent stake, is among Chinese state-backed companies that have been increasing their investments in European countries such as Portugal, Greece and Cyprus over the past few years.
Portuguese utility company EDP announced plans to sell 2 billion euros' (1.7 billion pounds) worth of assets in Portugal and Spain, and raise another 4 billion euros via an asset rotation programme until 2022 to fund its expansion in renewable energy. EDP-Energias de Portugal is the target of a 9 billion euro takeover proposal by China Three Gorges (CTG), which the EDP board has rejected as too low and which is opposed by activist shareholder Elliott Advisors. In a strategic update on Tuesday EDP also earmarked 12 billion euros for capital expenditure between 2019 and 2022, with 75 percent of that to be spent in North America and Europe, CEO Antonio Mexia told investors and analysts during a presentation in London.