ENGQF - ENGIE SA
| Previous Close | 17.55 |
| Open | 17.55 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's Range | 17.55 - 17.55 |
| 52 Week Range | 13.77 - 17.85 |
| Volume | 361 |
| Avg. Volume | 4,972 |
| Market Cap | 42.988B |
| Beta (5Y Monthly) | 0.91 |
| PE Ratio (TTM) | 36.11 |
| EPS (TTM) | 0.49 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.85 (4.83%) |
| Ex-Dividend Date | May 20, 2019 |
| 1y Target Est | N/A |
- 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.
- Financial Times
What were the reasons for the shake-ups at CS and Engie?
Now all eyes are on SoftBank, which reports earnings later this week. Elliott Management publicly called for changes at Masayoshi Son’s conglomerate. Activism, private equity and M&A are on the agenda at our Dealmakers and Dealbreakers conference in Tokyo on March 19.
- 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.
- 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...
- 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...
- Bloomberg
U.S. Sanctions a Russian Pipeline Too Late to Stop It
(Bloomberg Opinion) -- The long-threatened U.S. sanctions against Nord Stream 2, Russia’s $10.5 billion natural gas pipeline to Germany, will finally take effect next week, but their timing and design can only slow down the project’s now-certain completion. Even so, Ukraine, the primary injured party from the new pipeline, is grateful for small favors from Washington.The sanctions — crafted by Senators Ted Cruz, Republican of Texas, and Jeanne Shaheen, a New Hampshire Democrat — have been attached to the 2020 National Defense Appropriations Act, which already has been approved by Congress; President Donald Trump has promised to sign it. The State and Treasury Departments will have 60 days to present to Congress a list of vessels involved in the construction of Nord Stream 2 and another Russian pipeline, TurkStream, and of people and firms that provided these ships. Those people and entities will have 30 days to wind down their business or they will be barred from entry to the U.S. and could have their assets frozen.The sanctions come too late to hurt TurkStream, which runs under the Black Sea to the western area of Turkey. The underwater part of the pipeline is complete and even filled with Russian natural gas. Turkish President Recep Tayyip Erdogan has said the pipeline would be operational in early January.Nord Stream 2, a twin pipeline running under the Baltic Sea that allows Russia to avoid shipping gas overland through Ukraine, is another matter. Gazprom, the monopoly exporter of Russian pipeline gas, originally intended to complete it by the end of the year, and still had a chance to do in late October, when the Danish government gave permission to lay pipe in its waters. But inclement weather has played havoc with the construction, and earlier this week, the project’s operating company promised completion “in the coming months.” In late November, Dmitri Kozak, Russia’s deputy prime minister in charge of energy, said Nord Stream 2 would begin operation “in mid-2020.”Even with the effective 90-day grace period allowed by the U.S. sanctions, the last 168 kilometers of each of the two strings of pipe may not be laid by the time the punitive measures kick in. It’s unlikely that Allseas, the Swiss-based contractor now working on Nord Stream 2, will defy the U.S. restrictions if it’s not done in time. Then, Gazprom will need to use the only pipe-laying vessel it owns, the Academician Chersky, to finish the job — a slow and iffy scenario, even if Russian Foreign Minister Sergey Lavrov says Nord Stream 2 won’t be halted. Congress could have been much harsher with its sanctions, though. It could have hit Nord Stream 2’s financial investors, all major European energy companies: Engie SA, Uniper SE, OMV AG, Wintershall Dea GmbH and Royal Dutch Shell Plc. It could have sanctioned Russian debt. It could have made it impossible to import equipment for the construction of Russian pipelines and do repairs and maintenance on them. All of these measures have been considered at various times, but struck down in order to avoid a major confrontation with the European Union and an upheaval in financial markets.As things stand, the punitive measures have the appearance of a vindictive gesture, a nuisance move that won’t change what comes next. Russian President Vladimir Putin’s grand plan of supplying gas both to Europe bypassing Ukraine and to China through the just-opened Power of Siberia pipeline can no longer be scuppered. The likely Nord Stream 2 delay may even be beneficial for Russia, in a way. Competition from Middle Eastern and U.S. liquefied natural gas and warm weather have driven down the price of Russian pipeline gas in Europe. In the three months through September, the average gas price, $169.8 per 1,000 cubic meters, was 18% lower than in the preceding three months and 32% lower than a year before. The last time Gazprom faced such prices was in 2004. Increasing supplies in such a market situation would send prices tumbling even further.No matter how carefully the U.S. sanctions are crafted to spare European allies, Germany is still irritated. On Thursday, German Foreign Minister Heiko Maas tweeted in response to the U.S. measures that “the European energy policy will be decided in Europe, not in the U.S. We fully reject external interference and extraterritorial sanctions.” Theoretically, the European Union could even retaliate by raising duties on American LNG.But the U.S. sanctions, belated, weak and irritating to the German government as they are, still aren’t completely pointless. Ukrainian President Volodymyr Zelenskiy’s office thanked U.S. Congress for them on Thursday, and while Ukraine routinely thanks Western governments for sanctioning Russia, this time there’s a specific reason for the gratitude. Ukraine and Russia are locked in a dispute over the future of Russian gas supplies through Ukraine’s pipeline system. The current contract runs out at the end of the year, and Ukraine wants a long-term agreement to replace it while Russia doesn’t want to commit itself. The possibility of a protracted delay to Nord Stream 2 strengthens the Ukrainian position because it makes Russia nervous, and time is running out for the EU-brokered negotiations if supplies of Russian gas to Europe are to continue without interruption. To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Tobin Harshaw at tharshaw@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- 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...
- 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...
- 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...
- GuruFocus.com
3 Long-Term Dividend Payers Grant a High Forward Yield
AT&T; Inc. tops the list Continue reading...
- 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...
- Autoblog
Anheuser-Busch to add 21 BYD electric delivery trucks to California fleets
It seems Anheuser-Busch is set on trying every type of alternative-fuel-powered delivery truck available. In 2017, A-B announced it had ordered 40 electric Tesla semi-trucks. In 2018, A-B said it ordered as many as 800 hydrogen Nikola Motor Company semis.
- Benzinga
Anheuser-Busch Charges Into California Electric Truck Demonstration Race
Anheuser-Busch InBev (NYSE: BUD), one of the biggest customers in line for hydrogen-powered fuel cell electric trucks from Nikola Corp., is jumping into California's electric truck demonstration race with 21 BYD battery-electric beer delivery trucks. BYD is partnering with the non-profit Center for Transportation and the Environment (CTE), and ENGIE Services U.S. for what BYD said is the largest Class 8 electric truck deployment in North America. Volvo Trucks North America said September 12 that it plans to deliver the first five of 23 Class 8 VNR trucks as part of its Volvo LIGHTS demonstration project before the end of the year.
- Bloomberg
Starbucks Wins, Fiat Loses, Apple Kept Guessing in EU Rulings
(Bloomberg) -- Starbucks Corp. won a court fight and a Fiat Chrysler Automobiles NV unit lost one over European Union tax orders in decisions that left lawyers puzzling over the impact on Apple Inc.’s chances of toppling a record 13 billion-euro ($14.3 billion) bill.Even though the amounts at stake in Tuesday’s rulings -- about 30 million euros each for Starbucks and Fiat -- aren’t huge, lawyers are now poring over the judgments ahead of multiple appeals as companies, including the iPhone maker, counter EU Competition Commissioner Margrethe Vestager’s five-year crackdown on allegedly unfair tax deals.While Vestager generally came out of the latest rulings on top, “what this bodes for the eventual decision in the Apple case is still not clear,” said Howard Liebman, a tax partner at Jones Day, a Brussels law firm. He isn’t involved in the disputes. “There will be no ‘cookie cutter’ decisions relying on broad or sweeping generalizations about paying one’s ‘fair share’ of tax,” he said.The EU General Court in Luxembourg said Tuesday that the EU failed to show that coffee giant Starbucks obtained an unfair tax deal by the Netherlands. The judges threw out a similar challenge by Fiat over its fiscal arrangements in Luxembourg.“The principles laid down in these judgments provide some ammunition for both the taxpayers and the commission in the ongoing investigations,” said Natura Gracia, a lawyer with Linklaters in London.Tax AgreementsChallenges have been piling up at the EU courts since state-aid investigators started work in 2013 to unearth what they deemed to be the most problematic examples of otherwise legal individual tax agreements, known as tax rulings, doled out to companies by member countries.Luxembourg’s finance ministry said it would “analyze the judgment” and pointed out that the government “in the past few years has done numerous reforms to find against fiscal fraud and tax evasion.”The Dutch finance ministry is “glad there is clarity” following the court ruling, deputy finance minister Menno Snel said in an emailed statement. The judgment “means that the tax authorities have not treated Starbucks better or differently than other companies,” he said.Fiat said in an emailed statement that while it’s disappointed with the ruling and considering its next steps, the decision isn’t material to the group.No ‘Special’ TreatmentStarbucks said in a statement that it pays its taxes wherever they are due and that the ruling in its challenge “makes clear” that it “did not receive any special tax treatment from the Netherlands.”The decisions, which can be appealed to the EU Court of Justice, “give important guidance” to the commission on how to apply EU state aid rules in tax cases, and the regulator will study them before deciding on the next steps, according to a statement by Vestager.She said they “confirmed the commission’s approach to assess whether a measure is selective and if transactions between group companies give rise to an advantage under EU state-aid rules based on the so-called ‘arm’s length principle’.”Vestager, who’s set to take on another five-year stint as competition commissioner, said she’ll continue to look at “aggressive tax planning measures under EU state aid.” Ultimately, the goal is that all companies “pay their fair share of tax,” she said.In the Apple case, the EU said Ireland illegally reduced the company’s tax bill, a finding Apple and Irish officials don’t accept.Apple declined to comment Tuesday beyond pointing to its remarks in a hearing in its own appeal at the same court last week. It told judges it’s “now paying around 20 billion euros in tax in the U.S. on the very same profits that the Commission says should also have been taxed in Ireland.”The guidance from judges on the European Commission’s use of state aid law could also have an impact on Vestager’s tax probes, now centering on fiscal deals done by Alphabet Inc. and Ikea.Starbucks and Fiat were targeted on the same day in 2015 by a similar EU order to pay back 30 million euros each over their tax arrangements in the Netherlands and Luxembourg respectively.The EU said at the time the companies did this by setting prices for products and services sold between units -- called transfer prices -- that didn’t reflect market conditions.“These two judgments prove that the court will look at the precise facts of each state aids case brought before it and judge each on their individual merits,” Liebman said in an email.Finding itself at the receiving end of most of the EU’s decisions since then, Luxembourg was ordered to recoup 250 million euros from Amazon.com Inc. in 2017 and 120 million euros in back taxes from energy utility Engie SA, France’s former natural-gas monopoly, previously known as GDF Suez, last year.The cases are: T-636/16 - Starbucks and Starbucks Manufacturing Emea v. Commission, T-755/15 - Luxembourg v. Commission, T-759/15 - Fiat Chrysler Finance Europe v. Commission, T-760/15 - Netherlands v. Commission.\--With assistance from Ruben Munsterman and Tommaso Ebhardt.To contact the reporter on this story: Stephanie Bodoni in Luxembourg at sbodoni@bloomberg.netTo contact the editors responsible for this story: Anthony Aarons at aaarons@bloomberg.net, Peter Chapman, Paul SillitoeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
