Opinions
Norman Levine
Enel Societa Per Azioni
ENLAY-OTC
PAST TOP PICK
Feb 23, 2005
(A Top Pick Nov 29/04. Up 6% plus a 4% dividend.) The largest utility company in Italy. Very shareholder friendly. Expanding into other geographical areas. Have their telecommunications asset up for sale. Lots more upside.
$47.850
Stock price when the opinion was issued
electrical utilities
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BUY
Pays a good portion of its income as dividends. Have been selling off noncore assets. Has suffered because 1) the Euro has been weak and 2) that has been some lack of clearness as to what utility rates in the future are in Italy, but that's being corrected. Have sold forward almost 70% other production for next year and extremely favorable rates.
electrical utilities
PARTIAL SELL
European Utilities have been strong performers for the last 3 or 4 years. Interest rates are starting to move up, which raise the question of if they can continue as they have been.
From a fundamental point of view, it's likely that these utilities will do well.
These are defensive stocks, so it might be smart to move some money out, take some profits.
electrical utilities
TOP PICK
Europe's biggest utility. His top pick for global transition to clean power. At the forefront of the transition. Based in Italy, operates across multiple geographies. New green deal should provide a lot of funding, of which Enel should be the prime beneficiary. Nice entry point here. Yield is 4.21%. (Analysts’ price target is $9.13)
electrical utilities
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