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In the words of one of its executives, it is about taking advantage of the growth scenario of the company that is owned by the Italian. At, and who participates at 100% in the operation that I carried out several years ago. In this regard, the Catalan company will no longer allocate the 100% of the profit to dividends that has been applied in the last three years. Otherwise, on the contrary, it will be reduced to 80% of them, although with a small nuance that small and medium investors should value from now on. As is the fact that earnings will increase in this period.
On the other hand, from this new perspective, the CEO of Endesa explained that “firstly, we have to face a new cycle of energy transition; second, digitization will provide many possibilities to lower costs, but will require a large amount of investment; and thirdly, improving our relationship with clients will also require new investments. «To clarify to investors what the new cycle of the electric company listed on the Ibex 35.
Endesa: profit sharing
Although on the contrary, it is also very notable that a part of these estimated benefits will go to new investments in renewables and they materialize in the creation of the new electric mobility division that has been called Endesa X. Exactly this part of the agreement is encouraging this department to develop on the other hand and that even at a certain moment it can be listed on the Stock Market. independently, as has happened with other companies listed on equity markets.
Forecasts until 2021
Another very relevant aspect to note is that the forecasts of one of the leading companies of the Ibex 35 will be very close to 6,300 million euros in the period 2018-2021. Being one of the main reasons for this change that has been made in vary the remuneration system entre los accionistas. Sea cual sea el caso, ha sido una gran sorpresa para muchos de los agentes financieros que esperan continuidad en este tipo de retribuciones en los mercados de renta variable. En este aspecto, puedes crear una buena dosis de volatilidad en el precio de tus acciones.
It is also important to note that these data provided by Endesa represent a 7% average annual growth, which in the end represents one percentage point more than that estimated in the previous strategic plan of the basic energy company. On the other hand, we cannot forget that this listed Spanish equity market is at a very crucial point in its traditional line of business. In the sense that it is going to focus more on renewable energy as a source of the benefits that it can achieve in the coming years.
Backed by financial agents
The decision of the electricity company to reduce the value of the dividend to 80% of the profits generated has obtained the approval of some of the most important financial entities. In this regard, from Bankinter estiman que “La confirmación de las directrices y el dividendo del BNA 2020 son buenas noticias para la acción. El próximo recorte de las rentabilidades reguladas en distribución y la oportunidad de operaciones corporativas centrarán la atención de los inversores en la presentación del Plan ”. Sea cual sea el caso, siendo muy positivo el positioning en la compañía de referencia eléctrica.
On the contrary, the JP Morgan fund manager casts a series of shadows on this measure, warning that “we understand, and expected, the message that, in the long term, the dividend payment should be below 100% of profit, but we think that the message could have been structured from a more pragmatic point of view that avoided the perception that the dividend per share will be reduced by approximately 10% in 2021 and that there is no visibility from there.
At levels of 20 euros per share
The free rise figure was one of the most immediate objectives for Endesa and once the dividend from the valuation of its prices had been discounted. Because it would mean the confirmation of a trend clearly bullish and in all terms: short, medium and long. Beyond other technical considerations and perhaps also from a fundamental point of view. Whatever the case, Endesa is one of the values to pay attention to during this year that we have just started, despite the fact that the intensity of its movements is not one of the highest on the Spanish Stock Market.
Potential for improvement
In spite of everything, financial intermediaries give it a not specifically aggressive revaluation potential at this time, around 5%. Although it is true that they should review the latest news that has been caused from this company. In particular, the change in orientation regarding the payment of dividends. All this in an environment of the electricity sector that has improved significantly in recent months and affecting companies listed on the selective index of the Spanish Stock Exchange, such as Iberdrola, Enagás, Red Eléctrica Española or the former Gas Natural.
On the other hand, it is important to highlight that Endesa represents one of the most stable values of Spanish equities. With very little volatility and most importantly for many of the most defensive investors in the market, with very little difference between their high and low prices in the same trading session. As a result of these very special characteristics, this title can become one of the best securities on the stock market to protect our money in times of greater instability in the financial markets. Through better performance than other listed companies.
Fixed income every year
Where it should also be noted that «The objectives for the period comprised in the years 2009 and 2020 they focus on reasonable conservative assumptions that should push Bloomberg's consensus estimates to low single or mid-digit digits, ”as JP Morgan financial analysts point out.
Not surprisingly, they also emphasize a negative fact on the part of the company, as the trend of dividends sends a negative message to investors. In the sense that it generates a very confusing message about what will happen with the collection of dividends for the period contemplated by this electric company. With possible corrections in its prices as a result of these doubts that it has created among investors. As a result of these special characteristics, this title can become one of the best values on the stock market to protect our money.
