Engie SA
ENGI: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€64.00 | Jmyvj | Nfvgwrvn |
Engie Sets 2025 Guidance Above Expectations With Dividend Too Juicy To Be Snubbed; Shares Cheap
We don't expect to materially change our EUR 18 fair value estimate after no-moat Engie posted record 2022 profits and set 2025 guidance above our estimates and consensus. The firm will pay a EUR 1.4 dividend on 2022 earnings, 65% higher than in 2021, implying a 10% yield. Normalization of profits expected in 2023 points to a EUR 1.08 dividend, still implying a juicy 7.9% yield, reflecting the material undervaluation of the shares.