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European Utilities for Dividends - YouTube
Channel: Morningstar Europe
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welcome to Morningstar I'm Holly black
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with me is Tom Creed full of he's a
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Morningstar analyst in Amsterdam hello
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so torrid you've been doing some
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investigation on the utilities except in
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Europe I have these stocks have rocks if
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our this year pretty well so you have
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energy Kedah flat yesterday well as the
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board market is done by wrong the ten
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percent and one reason the a lot of
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people like these stocks is that they
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pay dividends but we've seen a lot of
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dividend cuts across the board
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amid the corona virus pandemic so what's
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the outlook for the payouts for these
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firms yes as you mentioned it was a wave
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of dividend cuts back in march which
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called investors or gap
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five companies are concerned the leaders
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including the for french entities but
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besides them going forward is limited
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risk of hidden cuts we distinguish three
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groups of UT cheese eaten twice so the
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ones who cut the dividend the five ones
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which we call same group then there is a
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group of three companies which issued
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kosher circle comments and evidence
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without contingent yet and then the
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group which is the biggest group that
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people is a good group is made of nine
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companies which are maintained and wait
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wait wait he didn't and he hidden plants
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so nine companies and for them besides
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one company which is mature she we think
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that didn't is much safe because it's
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forgot by second floor and by earning
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course okay so we have the good the bad
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and the ugly shall we talk about a
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couple of the stocks that you
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particularly like in the
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three yes so so I liked NL it's a three
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star territory now so slightly and
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overvalued but not significantly you
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have an irritant of close to 5%
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importantly there is didn't flow 2022
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which varies because of 6% and going
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even buildin 2724 expect both Julian
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goes 6% in line is both in physical pain
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yet positioning we will renewables and
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in regulate networks another with the
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yield of a person another one that I
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like is a
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RWE so you have a lower dividend yield
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of 3% but the stock is undervalued by
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you 115 percent following it's yes it's
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what we say or the group is now
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renewable cedar at the second global
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leader in offshore wind so that provides
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visibility on cash flows and didn't
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expect 7% annual both inhibitors 24 okay
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so I'm moving away from the category for
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some of the stocks that you are not
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particularly keen on right now so within
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that book there is National Grid
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I think they will have at some point to
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reduce that we don't we digits who
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maintained that and investment grade
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credit rating now say they have to
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attend a lead on the user's Creek
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evident
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scripts team which is duty but even with
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the script I explained by that by
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methylenes
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Keynesian policy of course as each in
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line with inflation it will be too much
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to keep credit ratings of Peugeot in
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don't wait and protect said is a create
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regimes we have written around 2022 and
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the God is not priced in
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because the ujin kids either wander for
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5% don't great thank you so much for
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your time
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some Morningstar I'm honey Brad
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