Friday, January 28

Enagás flirts with 20 euros for the first time since August

Enagas it maintains the bullish trend in the stock market despite the fall in its profits reported at the beginning of the week. On Monday, the energy company reported that its profit until September fell 11.9 percent to 307.9 million euros.

The gas company did not change, however, its roadmap until the end of the year, in a year that it plans to close with a net profit of 380 million.

This Wednesday, the shares registered a rise in the IBEX 35 of 1.7 percent, which left its price at 19.78 euros, its highest on the stock market since last August.

20 euros, annual maximums

The level of 20 euros also coincides with its annual highs and with those of last year. In 2021, Enagás has only managed to mark a daily closure in just two sessions throughout the summer.

The good performance in the last month, in which the energy company gained the same as in the previous nine months, seemed to end after the results: the shares suffered losses between Monday and Tuesday.

However, its revaluation potential has risen slightly from the 18 euros in which the consensus consulted by I saw the titles at 12 months until the 19 that the panel now marks. The potential remains, however, negative compared to its current price and yields a target price of 19.27 euros.

The company attributed the lower profits until September to the new regulation set by the Government for the period 2021-2026, but stressed that it continues to be immersed in reducing costs to achieve the profit objective.

Division among analysts

The results have also generated a barrage of recommendations that reflects a certain division around the path that their actions will take in the future.

Among international analysis firms, the feelings are mostly negative.

The figures for the first nine months of the year did not serve to convince analysts that Morgan Stanley, which maintained their target price at 16 euros and the sell recommendation.

Entities like Barclays o Deutsche Bank, which set slightly higher target prices this week – of 18.2 and 17 euros – but their bet is to undo positions in Enagás.

On the contrary, the firms that bet on keeping or buying the energy company’s securities give it sufficient potential to exceed its annual maximums.

Alantra, Bestinver and BNP Paribas They maintained their recommendation to maintain, the majority option of the panel consulted by, and granted a target price of between 20 euros and 20.48 euros.

Societe Generale and Mediobanca, for their part, they indicated the purchase and slightly raised their target price compared to their previous review. Thus, Societé Generale analysts see Enagás close to 21 euros, while those of Mediobanca consider that the shares will reach up to 22.

But the most optimistic review was that of GVC Gaesco. The analysts’ target price shoots up to 26 euros, which represents a potential of 25 percent compared to the current price of the shares.