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EDP - Energias de Portugal SA EDP

Rating as of

Morningstar’s Analysis

Valuation
Currency in EUR

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

EDP Releases 1H Results in Line With Expectations, Maintains 2021 Guidance, Shares Fairly Valued

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

We maintain our fair value estimate of EUR 4.60 along with our no-moat rating after EDP released first-half results in line with Visible Alpha consensus and maintaining its 2021 guidance. Shares appear fairly valued. For investors seeking an undervalued international integrated utility with yield and renewables exposure, we would recommend Engie.

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Company Profile

Business Description

EDP is a vertically integrated utility company and is the largest generator, supplier, and distributor of electricity in Portugal. In addition to Portugal, EDP has sizable operations in Spain, Brazil, and the U.S. EDP owns 82.6% of EDP Renovaveis, the third-largest wind power owner/operator in the world. EDP also owns 51% of Energias do Brasil, an electric utility that serves a population of almost 8 million.

Contact
Avendia 24 de Julho, No. 12, 4th Floor
Lisboa, 1249-300, Portugal
T +351 210012500
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 12,147