|Bid||23.84 x 0|
|Ask||23.83 x 0|
|Day's Range||23.68 - 24.10|
|52 Week Range||21.46 - 27.11|
|Beta (3Y Monthly)||0.79|
|PE Ratio (TTM)||20.70|
|Earnings Date||Oct 30, 2019|
|Forward Dividend & Yield||1.79 (7.55%)|
|1y Target Est||N/A|
Naturgy transforms its current 14.95% financial stake in Medgaz into a strategic stake which will allow the joint control of the Company together with Sonatrach. Naturgy will acquire 34.05% of Medgaz for 445 million euros through an SPV which can be opened to a financial partner. A highly attractive transaction for Naturgy, due to both its sound strategic rationale and the financial terms achieved, in an asset with stable, low risk and predictable long-term income and dividends.
Recently announced plans to foster competition in the Brazilian natural gas market may trigger a wave of privatizations among state-controlled distribution companies, luring international and domestic bidders, experts on the sector say. Brazil's Cosan SA and Spain's Naturgy Energy Group SA, are among the companies potentially interested in the segment, which also include Portugal's Galp , France's Engie and Spain's Repsol , consultants, lawyers and other experts said. The plan to overhaul Brazil's domestic natural gas market, approved by Brazil's energy policy council in late June, calls for companies with a "dominant position" to sell all of their stakes in distributors.
As European and U.S. officials praise the soaring trade of liquefied natural gas (LNG) between the regions, a pillar of U.S. President Donald Trump's drive for American "energy dominance", some buyers are bristling at the terms. Trading executives at French, German and Spanish utilities said accelerating U.S. LNG production undoubtedly added liquidity and transparency to the growing global market. Spain's Naturgy, the second largest buyer of U.S. LNG having signed deals years ago when LNG exports were just being conceived, says future contracts must change as the buyer has been taking on both volume and pricing risk.
Spain's main electricity providers have reached an agreement to renew the life of the country's oldest nuclear plant until its planned closure, the company operating the site said on Friday. The Almaraz plant in Western Spain hosts the first two nuclear reactors slated for closure in a calendar which foresees all seven in the country going offline between 2027 and 2035. Phasing out nuclear power, which provides about a fifth of Spain's electricity, is part of a package of energy market proposals that was one of the last initiatives of the Socialist government before parliament was dissolved before a general election next month.
Spain aims to close all seven of its nuclear plants between 2025 and 2035 as part of plans to generate all the country's electricity from renewable sources by 2050. Energy Minister Teresa Ribera announced the move on Tuesday, just as the Socialist government gears up to call an early national election in anticipation of losing a budget vote. Overhauling Spain's energy system, which generated 40 percent of its mainland electricity from renewable sources in 2018, will require investment of 235 billion euros ($266 billion) between 2021 and 2030, Prime Minister Pedro Sanchez said last month.
Energy companies are flooding Europe with U.S. natural gas, establishing a foothold in a market dominated by Russia and seen as a key battleground in Washington's efforts to curb Moscow's energy influence. Europe is now the top buyer of U.S. liquefied natural gas (LNG) after a near fivefold spike in U.S. LNG sales to the continent this winter, overtaking South Korea and Mexico, a Reuters analysis showed. Profit rather than politics is driving the increase, despite pressure from U.S. President Donald Trump for Europe to wean itself off Russian gas.