ENN Energy Could Gain Investor Interest -- Market Talk

Dow Jones2024-08-26

1048 GMT - ENN Energy will likely witness higher investor interest, DBS Group Research analyst Patricia Yeung writes in a note. As one of the largest gas distributors in China, gas volume is expected to grow decently with higher dollar margin in 2024, supporting free cash flow, Yeung says. As hopes for interest-rate cuts rise, there will likely be greater investor interest for solid yield plays such as ENN Energy, which is raising its 2024 dividend payout ratio to 44% from 40% in 2023, Yeung adds. DBS upgrades the stock to buy from hold but trims the target price to HK$63.00 from HK$70.00 on lowered core profit forecasts due to the decline in 1H. Shares closed at HK$54.00. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

August 26, 2024 06:48 ET (10:48 GMT)

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DBS upgrades the stock to buy from hold but trims the target price to HK$63.00 from HK$70.00 on lowered core profit forecasts due to the decline in 1H. Shares closed at HK$54.00. (kimberley.kao@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 26, 2024 06:48 ET (10:48 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ENN Energy Could Gain Investor Interest -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nENN Energy Could Gain Investor Interest -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-26 18:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>1048 GMT - ENN Energy will likely witness higher investor interest, DBS Group Research analyst Patricia Yeung writes in a note. As one of the largest gas distributors in China, gas volume is expected ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0577902538.SGD","symbol_name":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2462155960","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2462155960","pubTimestamp":1724669280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1048 GMT - ENN Energy will likely witness higher investor interest, DBS Group Research analyst Patricia Yeung writes in a note. As one of the largest gas distributors in China, gas volume is expected to grow decently with higher dollar margin in 2024, supporting free cash flow, Yeung says. As hopes for interest-rate cuts rise, there will likely be greater investor interest for solid yield plays such as ENN Energy, which is raising its 2024 dividend payout ratio to 44% from 40% in 2023, Yeung adds. DBS upgrades the stock to buy from hold but trims the target price to HK$63.00 from HK$70.00 on lowered core profit forecasts due to the decline in 1H. Shares closed at HK$54.00. 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As one of the largest gas distributors in China, gas volume is expected to grow decently with higher dollar margin in 2024, supporting free cash flow, Yeung says. As hopes for interest-rate cuts rise, there will likely be greater investor interest for solid yield plays such as ENN Energy, which is raising its 2024 dividend payout ratio to 44% from 40% in 2023, Yeung adds. DBS upgrades the stock to buy from hold but trims the target price to HK$63.00 from HK$70.00 on lowered core profit forecasts due to the decline in 1H. Shares closed at HK$54.00. 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