ENGQF - ENGIE SA

Other OTC - Other OTC Delayed Price. Currency in USD
9.60
-1.69 (-14.97%)
At close: 3:07PM EDT
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Previous Close11.29
Open11.10
Bid0.00 x 0
Ask0.00 x 0
Day's Range9.60 - 11.61
52 Week Range9.60 - 17.90
Volume7,710
Avg. Volume8,879
Market Cap23.211B
Beta (5Y Monthly)0.83
PE Ratio (TTM)19.75
EPS (TTM)0.49
Earnings DateN/A
Forward Dividend & Yield0.85 (7.81%)
Ex-Dividend DateMay 20, 2019
1y Target EstN/A
  • Indian Ports In Confusion as Virus Lockdown Hits Operations
    Bloomberg

    Indian Ports In Confusion as Virus Lockdown Hits Operations

    (Bloomberg) -- India’s government told all major ports that the coronavirus fight is a valid reason to halt some port operations, leaving traders confused over which goods will continue to flow in and out of the world’s seventh-biggest economy.Ports were advised by India’s Ministry of Shipping that they may consider the Covid-19 pandemic as grounds for invoking force majeure, a clause absolving companies from meeting their contractual commitments for reasons beyond their control, according to a letter Tuesday seen by Bloomberg. Several ports and terminals have done so already, while also saying they aim to maintain operations as the government deemed shipping an “essential service.”Importers of liquefied natural gas into India, which over the past couple of months have been actively seeking cargoes to take advantage of a collapse in spot prices, declared force majeure on some prompt shipments.The move follows Prime Minister Narendra Modi’s three-week lockdown on India’s 1.3 billion people, the most far-reaching measure by any government amid the pandemic. The declarations set off a wave of confusion, with traders and shipbrokers trying to assess whether the measures would halt operations at ports, which include some of the country’s biggest handlers of oil, LNG and shipping containers.About $829 billion of goods traveled through India’s ports in 2018, according to data compiled by Bloomberg, the 13th most in the world. The country is also the third-biggest importer of crude oil and fourth-biggest of LNG, as well as a major buyer of coal and palm oil and an exporter of sugar. India’s lockdown will mean a “substantial loss of demand” for oil, Vitol Group Chief Executive Office Russell Hardy said earlier Wednesday in a Bloomberg TV interview. Brent crude prices have already fallen 60 percent so far this year.‘Doing Our Best’“It doesn’t mean our operations are going to stop. All it does is free us from the commercial liabilities that arise out of disruptions caused by the coronavirus,” said P.L. Haranadh, deputy chairman at Visakhapatnam Port Trust, a government-owned port. “Operations have slowed because several staff may be reluctant to come to work fearing health issues. With limited resources, we’re doing our best to ensure that supplies of essential commodities, such as coal, crude oil and containers are maintained.”Read More: When God Appears in Contracts, That’s ‘Force Majeure’: QuickTakeAdani Group, a massive private conglomerate, declared force majeure at all of its 10 ports and terminals as of March 22, Pranav Choudhary, the chief executive officer of Adani’s Dahej and Hazira ports, said by phone. The measures will stay in place until further notice from the government, he said.India’s lockdown is constraining the movement of people and materials to and from the country’s ports, the group said in a letter to shippers that was seen by Bloomberg. Adani declared the force majeure, saying it won’t be responsible for any charges related to vessel delays, though it also said it would try to continue operating its ports.Minimal WorkforceMost Indian ports are continuing to work with minimal workforce, a person with knowledge of the matter said, adding that only labor-intensive work is facing delays. Oil operations aren’t affected, according to two shipping company officials. R. Ramachandran, refinery director at Bharat Petroleum Corp. said the company does not foresee any problems importing and exporting petroleum products or berthing ships except for a few protocols that have to be followed.India’s Gail India Ltd., Gujarat State Petroleum Ltd. and Petronet LNG Ltd. declared force majeure on some prompt shipments of LNG.Gail and GSPC are requesting to cancel or delay deliveries due to staffing issues at terminals and lower downstream demand caused by a nationwide lock-down to combat the fast-spreading virus, according to people with knowledge of the matter.Petronet sent a force majeure notice to Qatargas and Exxon Mobil Corp., and plans to review 20 deliveries planned for April, Chief Executive Officer Prabhat Singh said by phone. Petronet has deferred one LNG cargo from Qatar for delivery in March and will take eight remaining cargoes scheduled for that month. The firm is not facing problems berthing vessels, and the force majeure was due to fall in demand because of virus outbreak.Gail and GSPC had no immediate comment. Traders will weigh an impact of the Indian buyers’ move on global flows of the fuel and prices.Low LNG Spot Prices Prop Up India Demand, But Risks Lurk: BNEF“India’s lockdown will have a direct impact on spot LNG,” said Julien Hoarau, gas market analyst at Engie SA’s EnergyScan.Shipping data is signaling that ports may already be backed up. The number of vessels anchored at sea off India has risen 22% to 78 from a week earlier, according to tracking data compiled by Bloomberg. Chemical and oil product tankers accounted for most of that increase.“Ports will need to apply their mind before wanting to invoke such clauses,” said Anil Devli, the chief executive officer of the Indian National Shipowners’ Association. “Any unilateral declaration of force majeure could have huge commercial repercussions for India and its trade, and that would be unhealthy.”(Updates with two additional LNG force majeure notices in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Spain Sells $11 Billion of Debt, No Problem at All
    Bloomberg

    Spain Sells $11 Billion of Debt, No Problem at All

    (Bloomberg Opinion) -- Nothing says funding is not a problem during this crisis than a 10 billion-euro ($11 billion) debt issue. Spain, in a state of emergency because of the coronavirus, achieved this on Tuesday with a seven-year bond sale that attracted more than 36 billion euros of orders.The country was one of 11 high-grade borrowers testing the waters in what was the busiest day of the month for bond sales and the fourth-busiest of the year. This week’s volumes have already surpassed the total of the first three weeks of March, when the outbreak really suppressed supply. Wednesday is set to be even bigger.Raising such a jumbo deal did mean Spain had to offer a yield that was 18 basis points higher than an existing, slightly shorter seven-year bond. Its last syndicated issue, earlier this year, came with a lower yield than its existing debt. However, the world has changed profoundly and issuers have to be prepared to dangle a carrot to entice investor demand. In the circumstances, this wasn’t much of a premium for investors.A similar phenomenon was also evident for the European Investment Bank, whose three-year bond deal came at an 11 basis-point premium to its existing equivalent. Likewise, premiums were in evidence Monday for new deals from the German States of Bavaria and Saxony-Anhalt. Though, again, they weren’t huge, which shows how desperate investors are to find somewhere to put their money.Corporate deals are making a comeback too: Unilever NV and Engie SA last week followed the trend for higher yields. Company issuance has seen the biggest decline in the bond market this year, unsurprisingly give the business shutdowns, running nearly 20% behind last year's pace. Coca Cola European Partners, Sanofi and Nestle SA all came to the market with multi-tranche issues on Tuesday, illustrating the improvement in conditions. Heineken NV, Danaher Corp. and Carrefour SA were doing benchmark euro deals on Wednesday.The European Central Bank can breathe a bit easier as its 1 trillion euros of quantitative easing planned for the rest of this year is starting to take effect. As there will be considerable emphasis on its corporate sector purchasing program, many of the new investment grade deals should benefit from being scooped up by the ECB, if they’re from Europe-based issuing entities.Wednesday has also seen the return of major banks with Lloyds Banking Group Plc, HSBC Holdings Plc, and Goldman Sachs Group Inc. all bringing euro deals. Credit spreads (the yield on corporate debt relative to sovereign benchmarks) have ballooned since late February, offering better returns for investors than government bonds if they have cash to put to work. Those spreads will start to narrow, but the virus has created a new paradigm, whereby a decent new-issue premium is essential to a successful deal. Normality is returning to European debt capital markets, but the heady days of super-tight credit spreads and incredibly low non-core government bond yields look to be over.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. He spent three decades in the banking industry, most recently as chief markets strategist at Haitong Securities in London.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Do You Know About ENGIE SA’s (EPA:ENGI) ROCE?
    Simply Wall St.

    Do You Know About ENGIE SA’s (EPA:ENGI) ROCE?

    Today we'll look at ENGIE SA (EPA:ENGI) and reflect on its potential as an investment. Specifically, we'll consider...

  • Exclusive: France's Engie eyes U.S. energy services firm Ameresco - sources
    Reuters

    Exclusive: France's Engie eyes U.S. energy services firm Ameresco - sources

    The approach will test the appetite of Ameresco's 72-year-old chairman and chief executive, George Sakellaris, to cash out. The sources cautioned that there is no certainty that Engie's interest will lead to deal negotiations and an agreement with Ameresco. Engie and Ameresco did not immediately respond to requests for comment.

  • Bloomberg

    France's Top Female CEO Becomes a Stranded Asset

    (Bloomberg Opinion) -- Wanted: Knowledgeable and experienced CEO, preferably female, to take over the running of a $42 billion utility from a knowledgeable and experienced CEO, also female. No strategic shift necessary  — the last CEO got things broadly right. Close ties with Emmanuel Macron a plus.That may well be the kind of job ad France’s Engie SA has in mind as it begins the search for a candidate to replace Isabelle Kocher, the only female chief executive officer in the CAC 40 blue-chip index. Her firing, barely four years into the job, says a lot about the consequences of trying to turn a fossil fuel-dependent energy utility into a greener, pro-renewables ally of sustainable, inclusive capitalism. Kocher’s strategy was broadly on target, but she ended up paying the price for the political, governance and financial problems that ensued. It’s a warning for her successor, and the industry.The seeds of Kocher’s downfall were probably sown early in her tenure. Her appointment in 2016 was a landmark for several reasons: She was the first woman to run a CAC 40 company; she was pledging to sell 15 billion euros ($16.5 billion) of Engie assets and to exit coal and oil; and she was the first serious counterweight to the power of Gerard Mestrallet, who after more than two decades in Engie’s driving seat became chairman. Thus began a series of struggles between the two over strategy, management and style that never really subsided. (Mestrallet was replaced as chairman by Jean-Pierre Clamadieu in 2018, but the latter’s relationship with Kocher deteriorated too).It’s always hard to make friends inside a company as you set about shrinking it. But Kocher’s revolution seems to have made enemies everywhere. Resentment built up among top managers, and she reacted by wielding the ax. Mestrallet, meanwhile, despite having groomed the CEO for the role, was reluctant to give her breathing space. In a clear example of “one rule for the boys,” she failed in her bid to take a joint chairman and CEO role — a position Mestrallet enjoyed for years. While Kocher’s style sometimes rubbed people the wrong way, Mestrallet’s sprawling Engie empire wasn’t easy to revamp. On the financial front, analysts endorsed Kocher’s plan to push deeper into renewables and services, reducing the risk of being lumbered with “stranded” fossil fuel assets. But the trade-offs of this kind of approach can be brutal in the short term. They mean selling unloved assets that still generate lots of cash, and buying pricey assets that don’t. Engie’s cash flow from operations has fallen from 9.8 billion euros in 2015 to 7.3 billion euros in 2018; Ebitda has fallen from 11.3 billion euros to 9.2 billion euros. Its shares have performed worse than its peers.Yet brighter days might not have been far off for Kocher and the company. Analyst estimates compiled by Bloomberg suggest that Engie increased revenue and operating profit in 2019, and that its shares are about 7% below their 12-month potential. Engie’s board is reportedly mulling a spin-off of its regulated gas assets, which could bring in about 10 billion euros at market prices, according to UBS analysts.Unfortunately, nobody was prepared to wait and see. Politics proved to be the final decider on Kocher: The French state owns 24% of Engie, and the rift at the top was starting to make things awkward for President Emmanuel Macron. The government’s Engie stake has been marked for sale as a potential source of renewable energy funding; selling at an underwhelming price would be bad for taxpayers. Worse, Kocher’s allies in Paris — including Socialist Mayor Anne Hidalgo and several pro-environment politicians — launched a very public lobbying campaign to keep her in the job, which probably ended up hastening her demise.Before making the final decision to oust Kocher, French Economy Minister Bruno Le Maire declared earlier this week that the state would use only “economic criteria” when settling her fate. That’s hard to believe, given that the clashes were mostly about personality and governance — and whoever replaces her will probably stick to the same strategy. Nevertheless, Kocher’s case does show the difficulty of mixing shareholder capitalism and the pursuit of purposeful profit.To contact the author of this story: Lionel Laurent at llaurent2@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why ENGIE SA (EPA:ENGI) Could Be Worth Watching
    Simply Wall St.

    Why ENGIE SA (EPA:ENGI) Could Be Worth Watching

    Today we're going to take a look at the well-established ENGIE SA (EPA:ENGI). The company's stock saw a decent share...

  • Those Who Purchased ENGIE (EPA:ENGI) Shares Five Years Ago Have A 21% Loss To Show For It
    Simply Wall St.

    Those Who Purchased ENGIE (EPA:ENGI) Shares Five Years Ago Have A 21% Loss To Show For It

    In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...

  • How Much Did ENGIE SA's (EPA:ENGI) CEO Pocket Last Year?
    Simply Wall St.

    How Much Did ENGIE SA's (EPA:ENGI) CEO Pocket Last Year?

    Isabelle Kocher has been the CEO of ENGIE SA (EPA:ENGI) since 2016. This analysis aims first to contrast CEO...

  • Do Investors Have Good Reason To Be Wary Of ENGIE SA's (EPA:ENGI) 5.3% Dividend Yield?
    Simply Wall St.

    Do Investors Have Good Reason To Be Wary Of ENGIE SA's (EPA:ENGI) 5.3% Dividend Yield?

    Could ENGIE SA (EPA:ENGI) be an attractive dividend share to own for the long haul? Investors are often drawn to...

  • Is ENGIE SA's (EPA:ENGI) High P/E Ratio A Problem For Investors?
    Simply Wall St.

    Is ENGIE SA's (EPA:ENGI) High P/E Ratio A Problem For Investors?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • 3 Long-Term Dividend Payers Grant a High Forward Yield
    GuruFocus.com

    3 Long-Term Dividend Payers Grant a High Forward Yield

    AT&T; Inc. tops the list Continue reading...

  • Where ENGIE SA's (EPA:ENGI) Earnings Growth Stands Against Its Industry
    Simply Wall St.

    Where ENGIE SA's (EPA:ENGI) Earnings Growth Stands Against Its Industry

    After looking at ENGIE SA's (ENXTPA:ENGI) latest earnings announcement (30 June 2019), I found it useful to revisit...