Naturgy Energy Group SA
NTGY: XMAD (ESP)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|.Vg | LOCK|m?J#< | LOCK|zBKw^Sw |
Naturgy Has an Attractive Dividend Policy
Business Strategy and Outlook
Networks account for more than half of Naturgy's EBIT. Around half of networks' EBIT comes from Spain where the group is the leader in gas distribution. As it has consistently achieved high profitability and returns in the past in this business, the regulator imposed a sharp remuneration cut in 2021. Networks' returns are higher in Latin America and indexed to inflation.
