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Enel SpA - Stock Quote ENEL

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Morningstar's Enel SpA Stock Analysis

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Enel Tops Expectations in Q1 Except for Net Debt, Confirms 2022 Guidance, Shares Materially Undervalued

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

We maintain our fair value estimate after no-moat Enel released first-quarter results above consensus it polled, although net debt increased more than expected. Enel confirmed 2022 guidance. Shares yield 6.1% and are materially undervalued.

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Enel SpA's Company Profile

Business Description

Enel is a diversified energy company domiciled in Italy. Operations are concentrated in Italy, Spain, and Latin America. The firm's primary activities are electric generation, electric networks, and gas and electricity marketing. Around 50% of the company's EBITDA is derived from its regulated networks. Taking into account power sold through power purchase agreements in Latin America, around 70% of EBITDA is quasi-regulated. Enel is a giant in global power generation with 86 gigawatts of capacity, of which 39 GW is renewables, including a large share of hydro.

Contact
Viale Regina Margherita, 137
Rome, 00198, Italy
T +39 683054000
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings Dec 31, 2021
Fiscal Year End Dec 31, 2022
Stock Type
Employees 66,021

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