Trending: Naturgy Revises 2025 Targets
0851 GMT Naturgy is one of the most mentioned companies across news items in the last six hours, according to Factiva data, after the Spanish group revised its targets for 2025. "Following a successful execution of the 2018-22 Plan--in which the company exceeded all its committed targets--the expectations for the coming years have been reviewed," the energy group said on Wednesday. Naturgy now targets earnings before interest, taxes, depreciation and amortization of EUR5.1 billion ($5.62 billion) in 2025, up from EUR4.8 billlion. Investments are expected to amount to EUR13.2 billion in the 2021-25 period, below the previous target of EUR14 billion, while net debt is targeted at EUR16 billion in 2025 from EUR16.9 billion previously. Naturgy also revised its dividend floor for 2021-25 to EUR1.40 a share and said it will release further information with the publication of first-half results on July 24. "We believe this [revised guidance] might be a response to the failed management team changes and the appointment of the CEO," analysts at RBC Capital Markets say in a note, adding that "The evolution of results of Naturgy will depend on the gas market and it looks like global gas markets will turn less profitable versus 2022." Bloomberg reported Tuesday that Citigroup's banker Nacho Gutierrez-Orrantia won't leave the firm to join the Spanish energy company as chief executive officer after reports that a group of shareholders at Naturgy had proposed his appointment. At 0850 GMT, Naturgy trades 2.71% higher to EUR26.46. Dow Jones & Co. owns Factiva. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
July 12, 2023 05:06 ET (09:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now