Stock of the Week: Enel

Italy's electricity and gas grid operator has ambitious targets for renewable energy across Europe and in emerging markets, and is also prized for its dividends

James Gard 23 April, 2021 | 10:37AM
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Stock of the week post-it

With Earth Day in mind, we asked our Twitter followers to pick a European company heavily involved in renewable energy for Stock of the Week. You plumped for dominant Italian utility Enel (ENEL), which owns and manages a range of sustainable energy assets across the world including wind farms, hydro-electric dams and geothermal power plants.

Renewable sources of energy make up more than half of its output, accounting for 49GW out of a total of more than 86GW – and around 30% of group profits. By revenue, it was the biggest energy company in the world, just ahead of France’s nuclear generator EDF (EDF). Enel floated in 1999 but the Italian state still owns around 20% of the shares.

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James Gard  is content editor for Morningstar.co.uk

 

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