0LD0.IL - ENGIE SA ENGIE ORD SHS

IOB - IOB Delayed price. Currency in EUR
16.56
+0.07 (+0.39%)
At close: 4:36PM GMT
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Previous close16.49
Open16.50
Bid16.39 x 0
Ask16.68 x 0
Day's range16.45 - 16.67
52-week range12.32 - 16.80
Volume500,883
Avg. volume1,317,947
Market capN/A
Beta (5Y monthly)N/A
PE ratio (TTM)N/A
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Exclusive: France's Engie eyes U.S. energy services firm Ameresco - sources
    Reuters

    Exclusive: France's Engie eyes U.S. energy services firm Ameresco - sources

    The approach will test the appetite of Ameresco's 72-year-old chairman and chief executive, George Sakellaris, to cash out. The sources cautioned that there is no certainty that Engie's interest will lead to deal negotiations and an agreement with Ameresco. Engie and Ameresco did not immediately respond to requests for comment.

  • Bloomberg

    France's Top Female CEO Becomes a Stranded Asset

    (Bloomberg Opinion) -- Wanted: Knowledgeable and experienced CEO, preferably female, to take over the running of a $42 billion utility from a knowledgeable and experienced CEO, also female. No strategic shift necessary  — the last CEO got things broadly right. Close ties with Emmanuel Macron a plus.That may well be the kind of job ad France’s Engie SA has in mind as it begins the search for a candidate to replace Isabelle Kocher, the only female chief executive officer in the CAC 40 blue-chip index. Her firing, barely four years into the job, says a lot about the consequences of trying to turn a fossil fuel-dependent energy utility into a greener, pro-renewables ally of sustainable, inclusive capitalism. Kocher’s strategy was broadly on target, but she ended up paying the price for the political, governance and financial problems that ensued. It’s a warning for her successor, and the industry.The seeds of Kocher’s downfall were probably sown early in her tenure. Her appointment in 2016 was a landmark for several reasons: She was the first woman to run a CAC 40 company; she was pledging to sell 15 billion euros ($16.5 billion) of Engie assets and to exit coal and oil; and she was the first serious counterweight to the power of Gerard Mestrallet, who after more than two decades in Engie’s driving seat became chairman. Thus began a series of struggles between the two over strategy, management and style that never really subsided. (Mestrallet was replaced as chairman by Jean-Pierre Clamadieu in 2018, but the latter’s relationship with Kocher deteriorated too).It’s always hard to make friends inside a company as you set about shrinking it. But Kocher’s revolution seems to have made enemies everywhere. Resentment built up among top managers, and she reacted by wielding the ax. Mestrallet, meanwhile, despite having groomed the CEO for the role, was reluctant to give her breathing space. In a clear example of “one rule for the boys,” she failed in her bid to take a joint chairman and CEO role — a position Mestrallet enjoyed for years. While Kocher’s style sometimes rubbed people the wrong way, Mestrallet’s sprawling Engie empire wasn’t easy to revamp. On the financial front, analysts endorsed Kocher’s plan to push deeper into renewables and services, reducing the risk of being lumbered with “stranded” fossil fuel assets. But the trade-offs of this kind of approach can be brutal in the short term. They mean selling unloved assets that still generate lots of cash, and buying pricey assets that don’t. Engie’s cash flow from operations has fallen from 9.8 billion euros in 2015 to 7.3 billion euros in 2018; Ebitda has fallen from 11.3 billion euros to 9.2 billion euros. Its shares have performed worse than its peers.Yet brighter days might not have been far off for Kocher and the company. Analyst estimates compiled by Bloomberg suggest that Engie increased revenue and operating profit in 2019, and that its shares are about 7% below their 12-month potential. Engie’s board is reportedly mulling a spin-off of its regulated gas assets, which could bring in about 10 billion euros at market prices, according to UBS analysts.Unfortunately, nobody was prepared to wait and see. Politics proved to be the final decider on Kocher: The French state owns 24% of Engie, and the rift at the top was starting to make things awkward for President Emmanuel Macron. The government’s Engie stake has been marked for sale as a potential source of renewable energy funding; selling at an underwhelming price would be bad for taxpayers. Worse, Kocher’s allies in Paris — including Socialist Mayor Anne Hidalgo and several pro-environment politicians — launched a very public lobbying campaign to keep her in the job, which probably ended up hastening her demise.Before making the final decision to oust Kocher, French Economy Minister Bruno Le Maire declared earlier this week that the state would use only “economic criteria” when settling her fate. That’s hard to believe, given that the clashes were mostly about personality and governance — and whoever replaces her will probably stick to the same strategy. Nevertheless, Kocher’s case does show the difficulty of mixing shareholder capitalism and the pursuit of purposeful profit.To contact the author of this story: Lionel Laurent at llaurent2@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • French energy group Engie ousts CEO Isabelle Kocher
    Reuters

    French energy group Engie ousts CEO Isabelle Kocher

    French energy group Engie said on Thursday its board had decided not to renew the mandate of chief executive Isabelle Kocher and to put in place an interim management team as it hunts for a new boss to accelerate its transformation. Sources had told Reuters that representatives of the French state on the utility's board had decided to vote to oust Kocher. Engie needed to clarify its strategic options and boost its business model in reneweable energies and client solutions, the group said in a statement.

  • Why ENGIE SA (EPA:ENGI) Could Be Worth Watching
    Simply Wall St.

    Why ENGIE SA (EPA:ENGI) Could Be Worth Watching

    Today we're going to take a look at the well-established ENGIE SA (EPA:ENGI). The company's stock saw a decent share...

  • France's Engie hands UK home energy customers to challenger Octopus
    Reuters

    France's Engie hands UK home energy customers to challenger Octopus

    French power group Engie will quit the British residential energy supply market and hand its 70,000 residential customers to renewables specialist Octopus Energy, the companies said on Monday. The move is the latest shift in a changing British energy market previously dominated by six big suppliers - Centrica's British Gas , SSE , EDF Energy , Iberdrola's Scottish Power , E.ON and Innogy's npower. SSE completed the sale of its retail business to OVO Energy this month and npower was taken over by E.ON in an asset swap with Germany's RWE .

  • Those Who Purchased ENGIE (EPA:ENGI) Shares Five Years Ago Have A 21% Loss To Show For It
    Simply Wall St.

    Those Who Purchased ENGIE (EPA:ENGI) Shares Five Years Ago Have A 21% Loss To Show For It

    In order to justify the effort of selecting individual stocks, it's worth striving to beat the returns from a market...

  • Bloomberg

    U.S. Sanctions a Russian Pipeline Too Late to Stop It

    (Bloomberg Opinion) -- The long-threatened U.S. sanctions against Nord Stream 2, Russia’s $10.5 billion natural gas pipeline to Germany, will finally take effect next week, but their timing and design can only slow down the project’s now-certain completion. Even so, Ukraine, the primary injured party from the new pipeline, is grateful for small favors from Washington.The sanctions — crafted by Senators Ted Cruz, Republican of Texas, and Jeanne Shaheen, a New Hampshire Democrat — have been attached to the 2020 National Defense Appropriations Act, which already has been approved by Congress; President Donald Trump has promised to sign it. The State and Treasury Departments will have 60 days to present to Congress a list of vessels involved in the construction of Nord Stream 2 and another Russian pipeline, TurkStream, and of people and firms that provided these ships. Those people and entities will have 30 days to wind down their business or they will be barred from entry to the U.S. and could have their assets frozen.The sanctions come too late to hurt TurkStream, which runs under the Black Sea to the western area of Turkey. The underwater part of the pipeline is complete and even filled with Russian natural gas. Turkish President Recep Tayyip Erdogan has said the pipeline would be operational in early January.Nord Stream 2, a twin pipeline running under the Baltic Sea that allows Russia to avoid shipping gas overland through Ukraine, is another matter. Gazprom, the monopoly exporter of Russian pipeline gas, originally intended to complete it by the end of the year, and still had a chance to do in late October, when the Danish government gave permission to lay pipe in its waters. But inclement weather has played havoc with the construction, and earlier this week, the project’s operating company promised completion “in the coming months.” In late November, Dmitri Kozak, Russia’s deputy prime minister in charge of energy, said Nord Stream 2 would begin operation “in mid-2020.”Even with the effective 90-day grace period allowed by the U.S. sanctions, the last 168 kilometers of each of the two strings of pipe may not be laid by the time the punitive measures kick in. It’s unlikely that Allseas, the Swiss-based contractor now working on Nord Stream 2, will defy the U.S. restrictions if it’s not done in time. Then, Gazprom will need to use the only pipe-laying vessel it owns, the Academician Chersky, to finish the job — a slow and iffy scenario, even if Russian Foreign Minister Sergey Lavrov says Nord Stream 2 won’t be halted. Congress could have been much harsher with its sanctions, though. It could have hit Nord Stream 2’s financial investors, all major European energy companies: Engie SA, Uniper SE, OMV AG, Wintershall Dea GmbH and Royal Dutch Shell Plc. It could have sanctioned Russian debt. It could have made it impossible to import equipment for the construction of Russian pipelines and do repairs and maintenance on them. All of these measures have been considered at various times, but struck down in order to avoid a major confrontation with the European Union and an upheaval in financial markets.As things stand, the punitive measures have the appearance of a vindictive gesture, a nuisance move that won’t change what comes next. Russian President Vladimir Putin’s grand plan of supplying gas both to Europe bypassing Ukraine and to China through the just-opened Power of Siberia pipeline can no longer be scuppered. The likely Nord Stream 2 delay may even be beneficial for Russia, in a way. Competition from Middle Eastern and U.S. liquefied natural gas and warm weather have driven down the price of Russian pipeline gas in Europe. In the three months through September, the average gas price, $169.8 per 1,000 cubic meters, was 18% lower than in the preceding three months and 32% lower than a year before. The last time Gazprom faced such prices was in 2004. Increasing supplies in such a market situation would send prices tumbling even further.No matter how carefully the U.S. sanctions are crafted to spare European allies, Germany is still irritated. On Thursday, German Foreign Minister Heiko Maas tweeted in response to the U.S. measures that “the European energy policy will be decided in Europe, not in the U.S. We fully reject external interference and extraterritorial sanctions.” Theoretically, the European Union could even retaliate by raising duties on American LNG.But the U.S. sanctions, belated, weak and irritating to the German government as they are, still aren’t completely pointless. Ukrainian President Volodymyr Zelenskiy’s office thanked U.S. Congress for them on Thursday, and while Ukraine routinely thanks Western governments for sanctioning Russia, this time there’s a specific reason for the gratitude. Ukraine and Russia are locked in a dispute over the future of Russian gas supplies through Ukraine’s pipeline system. The current contract runs out at the end of the year, and Ukraine wants a long-term agreement to replace it while Russia doesn’t want to commit itself. The possibility of a protracted delay to Nord Stream 2 strengthens the Ukrainian position because it makes Russia nervous, and time is running out for the EU-brokered negotiations if supplies of Russian gas to Europe are to continue without interruption. To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Tobin Harshaw at tharshaw@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • French state opposed to renewing Kocher's mandate as Engie CEO - report
    Reuters

    French state opposed to renewing Kocher's mandate as Engie CEO - report

    Engie chief executive Isabelle Kocher will not get state backing to serve another term after her tenure at the French gas and power group ends in May, Les Echos reported on Monday. Kocher, who has been in the job since 2016, has come under pressure amid reports of a strategy split within the group and disagreements between board members on whether to pursue a sell-off of some gas assets. The French state, which holds a 24% stake in the company, is not in favour of renewing her mandate, although it does not plan to force her exit, Les Echos reported, without saying where it got the information.

  • How Much Did ENGIE SA's (EPA:ENGI) CEO Pocket Last Year?
    Simply Wall St.

    How Much Did ENGIE SA's (EPA:ENGI) CEO Pocket Last Year?

    Isabelle Kocher has been the CEO of ENGIE SA (EPA:ENGI) since 2016. This analysis aims first to contrast CEO...

  • Do Investors Have Good Reason To Be Wary Of ENGIE SA's (EPA:ENGI) 5.3% Dividend Yield?
    Simply Wall St.

    Do Investors Have Good Reason To Be Wary Of ENGIE SA's (EPA:ENGI) 5.3% Dividend Yield?

    Could ENGIE SA (EPA:ENGI) be an attractive dividend share to own for the long haul? Investors are often drawn to...

  • Reuters

    Poland's anti-monopoly body fines France's Engie over Nord Stream 2

    Poland's anti-monopoly body UOKiK said on Friday it had fined France's Engie Energy , one of five European firms responsible for financing gas pipeline Nord Stream 2, 40 million euros ($44 million) as part of proceedings against Gazprom. UOKiK said Engie had refused to provide it with documents and information about the agreements it signed with Russian gas supplier Gazprom .

  • Reuters - UK Focus

    UPDATE 2-Poland's anti-monopoly body fines France's Engie over Nord Stream 2

    Poland's anti-monopoly body UOKiK said on Friday it had fined France's Engie Energy, one of five European firms responsible for financing gas pipeline Nord Stream 2, 40 million euros ($44 million) as part of proceedings against Gazprom. UOKiK said Engie had refused to provide it with documents and information about the agreements it signed with Russian gas supplier Gazprom.

  • Is ENGIE SA's (EPA:ENGI) High P/E Ratio A Problem For Investors?
    Simply Wall St.

    Is ENGIE SA's (EPA:ENGI) High P/E Ratio A Problem For Investors?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Where ENGIE SA's (EPA:ENGI) Earnings Growth Stands Against Its Industry
    Simply Wall St.

    Where ENGIE SA's (EPA:ENGI) Earnings Growth Stands Against Its Industry

    After looking at ENGIE SA's (ENXTPA:ENGI) latest earnings announcement (30 June 2019), I found it useful to revisit...

  • Reuters

    UK regulator fines Engie unit for gas price manipulation by trader

    Ofgem has fined a unit of France's Engie for market abuse after one of its traders manipulated wholesale British gas prices over a three month period in 2016, the energy regulator said on Thursday. It said the trader from Engie Global Markets (EGM) had "spoofed" the National Balancing Point (NBP) month-ahead gas price, a European benchmark gas price. "A market participant alerted Ofgem to suspicious activity on the wholesale gas market," Ofgem said in a statement.

  • Engie expects half its new renewables projects from PPA deals
    Reuters

    Engie expects half its new renewables projects from PPA deals

    French gas and power group Engie expects that half of its new renewable energy projects in 2019-2021 will come from power purchase agreements (PPAs) with companies or municipalities, the company said on Tuesday. As costs and subsidy levels for wind and solar drop, a growing number of government renewable energy projects are being awarded through competitive bidding. Engie and other renewable energy developers are increasingly signing PPA contracts with big companies and cities.

  • Reuters

    Engie and Eni searched by French watchdog in anti-competition probe

    France's consumer fraud watchdog said on Monday it had carried out raids at the premises of 13 energy firms in the French retail electricity and gas market, as part of an investigation into possible anti-competitive practices. The DGCCRF regulator, an arm of the finance ministry, said two energy firms and 11 subcontracting companies were searched during a simultaneous raids on June 23. A source close to the investigation said Italy's Eni was the second energy firm targeted by the investigation.

  • Fiat Chrysler signs EV charge point deals with Enel, Engie
    Reuters

    Fiat Chrysler signs EV charge point deals with Enel, Engie

    Carmaker Fiat Chrysler (FCA) has signed an agreement with European utilities Enel and Engie to help offer its customers charging points for electric vehicles (EV) it is planning to roll out. FCA, which is lagging rivals in developing electrified vehicles, said last June it would invest 9 billion euros (£8 billion) over the next five years to introduce hybrid and electric cars across all regions.

  • Reuters

    French Engie, Portugal's EDP aim be second-biggest offshore wind developer with JV

    LONDON/PARIS (Reuters) - French utility Engie and Portugal's EDP said on Tuesday they will invest 15 billion euros ($16.7 billion) with the aim of becoming the world's number two offshore wind developer after Denmark's Orsted. The two utilities, which have no operational offshore wind parks so far, said they will combine their offshore wind assets and project pipelines, starting with a total of 1.5 gigawatts (GW) under construction and 4 GW under development. "From day one, the JV will be among the top five players in this market," Engie CEO Isabelle Kocher said at a press briefing on the new joint venture in London.

  • Reuters

    France's Engie is weighing a takeover of Emcor: Bloomberg

    (Reuters) - French utility Engie SA is considering a takeover of Emcor Group Inc, as it seeks to expand in the U.S. market, Bloomberg said on Saturday, citing people familiar with the matter. Engie is ...

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