ENLAY - Enel SpA

Other OTC - Other OTC Delayed Price. Currency in USD
7.01
+0.08 (+1.15%)
At close: 3:59PM EDT
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Previous Close6.93
Open6.97
Bid0.00 x 0
Ask0.00 x 0
Day's Range6.96 - 7.04
52 Week Range4.84 - 7.49
Volume56,302
Avg. Volume231,907
Market Cap71.816B
Beta (3Y Monthly)0.29
PE Ratio (TTM)14.70
EPS (TTM)0.48
Earnings DateN/A
Forward Dividend & Yield0.31 (4.50%)
Ex-Dividend Date2019-07-22
1y Target EstN/A
Trade prices are not sourced from all markets
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  • Moody's

    Enel Russia, PJSC -- Moody's confirms Enel Russia's Ba3 rating, stable outlook

    Moody's Investors Service ("Moody's") has today confirmed Enel Russia, PJSC's (Enel Russia) Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating (PDR). The outlook has been revised to stable, from rating under review. The action completes the review for downgrade initiated on 13 June 2019 following Enel Russia's announcement to sell its largest generating asset Reftinskaya GRES (RGRES) to the electricity-generating arm of SUEK JSC (Ba2, stable) for RUB21 billion (around $323 million), plus a contingent component of RUB3.0 billion.

  • Enel SpA (BIT:ENEL): Poised For Long Term Success?
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  • Coal's Demise Quickens in Europe as Market Shift Idles Plants
    Bloomberg

    Coal's Demise Quickens in Europe as Market Shift Idles Plants

    (Bloomberg) -- Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.A plunge in natural gas prices along with an increase in the cost of releasing carbon dioxide emissions shifted the profitability of generating electricity away from burning coal, according to data compiled by BloombergNEF. The trend is evident in Italy, Spain, Germany and the U.K., each of which have cut the proportion of coal in their power mixes this year.Shifting economics in the power business are complementing the efforts of the European Union to slash greenhouse gases and make good on commitments in the Paris Agreement on climate change. It’s made utilities from RWE AG in Germany and Italy’s Enel SpA change their calculations about the pace the region will be able to reduce carbon pollution.“It’s a magical alignment that’s igniting and accelerating a transition that, without the economics, would be much harder,” said Antonello Cammisecra, who is in charge of Enel’s gas, coal, oil and green power generation worldwide. “We have an alignment of economics, of saying switch to gas and most importantly switch to renewables because it’s cheaper, safer and easier.”The shift in Europe is part of a global trend.Abundant supplies of cheap gas are cutting in on coal’s market share in the U.S., where plants burning the dirtiest fossil fuel closed at near record rates last year. New export terminals are exporting cheap American gas worldwide, prompting countries across Asia, especially China and Pakistan, to buy LNG as an alternative to coal for power generation.“The exit from coal is finally driven by the market,” said Claudia Kemfert, a professor of energy economics at the DIW research institute in Berlin. “The repair of emissions trading has worked.”Coal output across Italy, France, Germany, Spain, Portugal and Britain fell 40% from a year ago in the second quarter, according to S&P Global Platts Analytics. The proportion of coal in the U.K. power mix has plummeted from more than 35% a decade ago to about 4% now, due in part to targets set by government to eliminate the fuel from electricity generation by 2025.While the drop-off has been nowhere near as dramatic in other leading European economies, the phaseout is starting to take hold both because of policy moves and shifts in the market. Gas is trading near its weakest levels in a decade, and EU carbon allowances are double the price they were a year ago. The benchmark year-ahead coal contract has tumbled from $100 a ton to as little as $62 a ton.The result is that the case for switching off coal plants in favor of gas has rarely been stronger. For almost all of this year, it has been far more profitable to switch on gas-fired generators and halt ones burning coal, according to BNEF. That marks the longest period that the cost of energy has remained in that “fuel-switching” territory.On some short-term power contracts the margin for running gas plants has been as much as 14 euros a megawatt-hour more than coal this year. There’s evidence that some companies are responding.“Now we see gas out-competing lignite plants in Germany on an economic basis, due to the increase in carbon prices,” said Jahn Olsen, an analyst at BNEF in London. “The reason for the carbon price even being there is for this kind of switch to happen. And now we are seeing it.”In Germany, more fuel switching is happening this year than ever before. Gas accounted for 40% of power generation in June, the first time it had such a large proportion compared with coal, according to researcher Fraunhofer ISE. German coal power fell at a record rate in June, with lignite down 38% and hard coal by 41% from a year ago. Italy’s hard coal supply dropped by 19% in the first quarter, according to Eurostat data Spain’s coal use for power dropped to 6.7% in the first half while gas rose 17%, according to Red Electrica Corp.Politicians are prodding for lower pollution. German Chancellor Angela Merkel’s administration in January brokered a plan to wean Europe’s biggest economy off coal from next year with a complete exit by 2038. While the plan isn’t yet enshrined in law, companies are already starting to move.“Closing coal capacity is a theme that is developing momentum in Europe,” said Lueder Schumacher, a utilities analyst at Societe Generale SA in London. “Be it for environmental or economic reasons, coal just can’t compete at these carbon prices.”Part of the shift is due to an abundance of gas. New supplies of LNG are arriving from the U.S. and Australia after a mild winter left storage sites brimming. China’s thirst for the fuel has slowed, allowing more cargoes to arrive in Europe.The other major move is the surge in carbon prices, which raises the cost of running plants that pollute. Carbon has risen 66% in the past year and is closing in on the 30 euros-a-ton threshold that economists have said will start to have a major impact on the way businesses set their strategy. “When it comes to the carbon price, it has really taken a driver's seat in the power price development,” Fortum Oyj CEO Pekka Lundmark said in a Bloomberg Television interview. “This is now starting to push through some well-needed coal-to-gas switching in power production and makes the power price more closely coupled to gas than coal.”The trend toward fuel switching is yet to take hold in some places. Several countries in the east of Europe remain heavily reliant on coal for heat and power as well as jobs. Poland still gets more than 70% of its electricity from the fossil fuel, according to BloombergNEF data. Supply there rose by 5% from a year ago in the first quarter, Eurostat said.Also, the same markets that make fuel switching attractive on paper may also delay a stronger reaction by companies.Some big generators like RWE have hedged their exposure to carbon prices years into the future, allowing them to keep using coal profitably and avoid a knee-jerk adjustments based on short-term commodity price moves. RWE executives have said they expect gas switching to slow if price rises seen in forward markets materialize in the spot market.For its part, the coal industry is hoping to stay relevant for as a long as it possibly can. It maintains that the most efficient, least-polluting coal plants are just as clean as some gas facilities. The World Coal Association wants to see broader deployment of carbon, capture and storage technology, which siphons off harmful gases for sequestration underground.“Shutting down the best energy source that already exists for securing German power supply will not have any impact whatsoever on global climate,” the Coal Importers Association said in a July 18 statement.Even so, energy experts say moves to switch off coal and spur renewables are only the start of reducing net carbon emissions to zero by 2050, a goal proposed by a United Nations panel of scientists assessing the risks of climate change. DIW’s Kemfert said further policy action including a carbon tax may be necessary.“A reform of energy taxes is already overdue,” she said. “Fossil energies have been taxed too little for a long time and electricity too highly. A further time delay of necessary measures is not possible, it must be acted fast.”(Updates with carbon price move in 17th paragraph.)To contact the authors of this story: Jeremy Hodges in London at jhodges17@bloomberg.netMathew Carr in London at m.carr@bloomberg.netWilliam Wilkes in Frankfurt at wwilkes1@bloomberg.netTo contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net, Andrew ReiersonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • It Might Be Better To Avoid Enel SpA's (BIT:ENEL) Upcoming 2.1% Dividend
    Simply Wall St.

    It Might Be Better To Avoid Enel SpA's (BIT:ENEL) Upcoming 2.1% Dividend

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  • Moody's

    ENEL Finance International N.V. -- Moody's changes outlook on Enel to positive; affirms ratings

    Moody's Investors Service ("Moody's") has today changed to positive from stable the outlook on ENEL S.p.A. ("Enel" or "the group"). Moody's has also affirmed the Baa2/(P)Baa2 senior unsecured ratings of Enel. At the same time, Moody's has changed to positive from stable the outlook on the guaranteed subsidiaries ENEL Investment Holding B.V. and ENEL Finance International N.V. Moody's has also affirmed their Baa2/ (P)Baa2 senior unsecured ratings, the debt Enel has assumed of ENEL Finance International S.A., the Prime-2 (P-2) short-term rating of ENEL Finance International N.V., and the Ba1 rating of Enel's subordinated debt (also known as "Hybrids").

  • Moody's

    Enel Russia, PJSC -- Moody's places Enel Russia on review for downgrade

    Moody's Investors Service ("Moody's") has today placed Enel Russia, PJSC's (Enel Russia) Ba3 Corporate Family Rating (CFR) and Ba3-PD Probability of Default Rating (PDR) on review for downgrade following its announcement to sell its largest generating asset Reftinskaya GRES to the electricity-generating arm of SUEK JSC (Ba2, stable) for RUB21 billion (around $323 million), plus a contingent component of RUB3.0 billion. The transaction is subject to the approval of the Russian Federal Antimonopoly Service and to the shareholders' approval which should be obtained on 22 July 2019. Moody's expects Enel Russia to exclude Reftinskaya GRES from its financials by end-2020 at the latest.

  • Moody's

    ERNA S.R.L. -- Moody's assigns definitive ratings to CMBS notes issued by ERNA S.R.L.

    Rating Action: Moody's assigns definitive ratings to CMBS notes issued by ERNA S.R.L. Global Credit Research- 04 Jun 2019. EUR 300 million of CMBS rated.

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  • Moody's

    Eletropaulo Met. De Elet. de Sao Paulo -- Moody's assigns Ba1/Aaa.br ratings to Eletropaulo´s debentures

    Moody´s América Latina ("Moody´s") assigned Ba1/Aaa.br (Global Scale and Brazilian National Scale, respectively) ratings to the issuance of BRL1.5 billion senior unsecured debentures maturing in May 2026 planned by Eletropaulo Metropolitana de Eletricidade de São Paulo S.A (Eletropaulo). Issuance proceeds will serve to partly refinance Eletropaulo's debts and also support its capital investment program. Should issuance conditions and/or final documentation deviate from the original ones submitted and reviewed by the rating agency, Moody's will assess the impact that these differences may have on the ratings and act accordingly.

  • Moody's

    ENEL S.p.A. -- Moody's assigns Ba1 rating to hybrid notes issued by ENEL S.p.A.; stable outlook

    Moody's Investors Service ("Moody's") has today assigned a Ba1 long-term rating to the Capital Security (the junior subordinated "Hybrid") to be issued by ENEL S.p.A. ("Enel"). The Ba1 rating assigned to the Hybrid is two notches below Enel's senior unsecured rating of Baa2, reflecting the features of the Hybrid. It is very long-dated, deeply subordinated and Enel can opt to defer coupons on a cumulative basis.

  • Moody's

    ERNA S.R.L. -- Moody's assigns provisional ratings to notes to be issued by ERNA S.R.L.

    Rating Action: Moody's assigns provisional ratings to notes to be issued by ERNA S.R.L. Global Credit Research- 09 May 2019. Approximately EUR 300 million of CMBS rated.

  • Moody's

    Enel Generacion Chile S.A. -- Moody's announces completion of a periodic review of ratings of Enel Generacion Chile S.A.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Enel Generacion Chile S.A. New York, May 07, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Enel Generacion Chile S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

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  • Moody's

    Endesa Capital, S.A. -- Moody's announces completion of a periodic review of ratings of Endesa S.A.

    Announcement: Moody's announces completion of a periodic review of ratings of Endesa S.A. London, 29 March 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Endesa S.A. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Moody's

    International Endesa B.V. -- Moody's announces completion of a periodic review of ratings of Endesa S.A.

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  • Moody's

    Zacapa S.a r.l. -- Moody's announces completion of a periodic review of ratings of Zacapa S.a r.l.

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  • Reuters

    GE explores stake sale in Enel renewables joint venture: sources

    The joint venture, called EGPNA Renewable Energy Partners, was formed in late 2016 between Enel's U.S.-based renewables subsidiary, Enel Green Power North America (EGPNA) and GE Energy Financial Services. It could be valued at more than $1 billion, excluding debt, according to the sources.

  • Moody's

    Enel Americas S.A. -- Moody's affirms Enel Americas, outlook changed to stable

    Moody's Investors Service ("Moody's") has affirmed the 'Baa3' senior unsecured rating of Enel Americas S.A. (ENIA). The rating action follows the announcement, on February 27, 2019, that the company is pursuing a capital increase in the amount of up to $3.5 billion, the proceeds of which would be allocated to redeem outstanding debt at the subsidiaries level.

  • Moody's

    Enel Russia, PJSC -- Moody's announces completion of a periodic review of ratings of Enel Russia, PJSC

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Enel Russia, PJSC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.