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Naturgy Energy Group SA NTGY

Morningstar Rating
€24.72 −0.20 (0.80%)
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Company Report

Naturgy Could Be Taken Over

Networks account for more than half of Naturgy's EBIT. Around 60% 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.

Price vs Fair Value

NTGY is trading at a 736% premium.
Price
€24.92
Fair Value
€74.10
Uncertainty
Medium
1-Star Price
€24.30
5-Star Price
€23.53
Economic Moat
Tpkm
Capital Allocation
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Bulls Say, Bears Say

Bulls

Rebalancing of the capital allocation from shareholder remuneration to growth investments will be value-accretive.

Bears

Earnings are volatile due to the exposure to gas prices.

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News

Trading Information

Previous Close Price
€24.92
Day Range
€24.7225.00
52-Week Range
€19.5128.44
Bid/Ask
/
Market Cap
€23.96 Bil
Volume/Avg
508,890 / 1.3 Mil

Key Statistics

Price/Earnings (Normalized)
11.99
Price/Sales
1.06
Dividend Yield (Trailing)
5.66%
Dividend Yield (Forward)
5.66%
Total Yield
5.64%

Company Profile

Naturgy stems from the acquisition of Union Fenosa in 2008. The company operates across the gas value chain, from procurement to distribution and marketing. It owns and operates the largest gas distribution network in Spain and is the leader in retail gas supply. The company also owns and operates gas and electricity distribution networks in Latin America. The company owns 16.20 GW of generation capacity including 4.3 GW of wind and solar.
Sector
Utilities
Industry
Utilities - Regulated Gas
Stock Style Box
Large Value
Total Number of Employees
7,073

Competitors

Valuation

Metric
NTGY
ELE
IBE
Price/Earnings (Normalized)
11.9925.7713.20
Price/Book Value
2.562.801.45
Price/Sales
1.060.781.70
Price/Cash Flow
19.925.327.74
Price/Earnings
NTGY
ELE
IBE

Financial Strength

Metric
NTGY
ELE
IBE
Quick Ratio
1.020.870.60
Current Ratio
1.221.100.77
Interest Coverage
5.106.614.98
Quick Ratio
NTGY
ELE
IBE

Profitability

Metric
NTGY
ELE
IBE
Return on Assets (Normalized)
6.86%4.12%4.79%
Return on Equity (Normalized)
30.46%35.63%14.40%
Return on Invested Capital (Normalized)
11.21%10.95%7.51%
Return on Assets
NTGY
ELE
IBE
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Utilities - Regulated Gas Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
GASNF
Naturgy Energy Group SATttrb$26.2 Bil
GASNY
Naturgy Energy Group SA ADRGvpp$26.2 Bil
ATO
Atmos Energy CorpFkwyrgrbCthgsdg$17.7 Bil
GAILF
GAIL (India) Ltd DRDmgx$16.1 Bil
SNMRF
Snam SpANxnpfx$16.0 Bil
SNMRY
Snam SpA ADRGptqjl$16.0 Bil
HOKCY
Hong Kong and China Gas Co Ltd ADRPzgxnc$15.4 Bil
NI
NiSource IncCvyzwbclmSdzmzx$13.1 Bil
NFE
New Fortress Energy Inc Class ACjlnlglwBdd$5.4 Bil
NJR
New Jersey Resources CorpSsrmfsqHqvwfm$4.3 Bil

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