02688 ENN ENERGY
- 54.950
- +0.050+0.09%
ENN ENERGY News
Big banks rating | DBS: enn energy may have catalyst to boost stock price, maintain shareholding rating.
According to a report from Daiwa, enn energy (2688.HK) is expected to release its first-half performance after the market closes on August 23, with hopes that catalysts will boost the stock price. Daiwa maintains a 'shareholding' rating with a target price of HKD76.1. Daiwa says it is still concerned about the company's fundamentals, particularly the recent significant decline in the share price. The bank expects new energy's core profit to increase by between 5% and 10% in the first half of the year, and the management may provide guidance for the second half of the year at the earnings release conference, which could be a potential turning point for the stock price.
ENN Energy Holdings to Review Interim Results and Dividend
enn Energy (02688.HK) plans to hold a board of directors meeting on August 23 to approve its interim performance.
ENN Energy (02688.HK) announced that its board of directors will hold a meeting on Friday, August 23, 2024 to approve the publication of the company and its subsidiaries' interim performance announcements for the six months ending June 30, 2024, and consider the payment of interim dividends (if any).
ENN ENERGY: Date of Board Meeting
ENN Energy (02688.HK) was hit by BlackRock's shareholding reduction of 2.5171 million shares.
According to the latest equity disclosure information from the HKEX, on August 2, 2024, enn energy (02688.HK) was reduced by BlackRock, Inc. on the exchange at an average price of HKD 54.5304 per share, reducing its holding by 2.5171 million shares, with a total amount of about HKD 0.137 billion. After the reduction, BlackRock, Inc.'s latest holdings are 66.3535 million shares, and the proportion of its holdings has decreased from 6.09% to 5.87%.
Daiwa has lowered the target price of ENN Energy to HKD 63 and upgraded the rating to "buy".
Daiwa Securities released a research report stating that the target price for ENN Energy (02688) was lowered from HKD 64 to HKD 63 and the rating was upgraded from "hold" to "buy". The report pointed out that the detention of the chairman of ENN Energy, Wang Yusuo, by the mainland authorities is the main factor dragging down the company's stock price. The company has publicly denied the relevant rumors. The bank believes that the impact of the relevant news on ENN Energy's future M&A prospects is the greatest, and the company's existing projects are unlikely to be affected. Daiwa believes that even if the chairman's detention is true, the impact on ENN Energy's fundamentals is still limited. In addition, it is expected that ENN Energy will achieve net profit of RMB 770 million and RMB 990 million in 2024 and 202
Huabao Securities: Hydrogen Price Index sees a decrease in supply and consumer demand, fuel cell vehicle production and sales enter the peak season.
With the implementation of relevant policies and completion of project construction, the market supply and demand for green hydrogen production and co-combustion of green hydrogen/green ammonia are expected to see double growth.
What ENN Energy Holdings Limited's (HKG:2688) P/E Is Not Telling You
Hong Kong stock abnormality|ENN Energy(02688) fell more than 3% with underperforming operational data in the first five months, and institutions expect a 13% decline in interim core profit.
ENN Energy (02688) currently down over 3%. As of press time, it has fallen by 3.19%, at 53.15 Hong Kong dollars, with a turnover of 326 million Hong Kong dollars.
CCB International: Maintains 'Neutral' Rating on ENN Energy, with Target Price Increased to HKD 58.
CICC released a research report stating that it maintains a "neutral" rating on ENN Energy (02688) and lowers its core profit forecast for 2024/2025 by 3%/3%, taking into account lower wholesale natural gas profits and VAB income, as well as reduced merger and acquisition opportunities, and assuming a decrease in its capital expenditure. The target price has been raised by 5.5% to HKD 58, up from HKD 55. The bank stated a preference for ENN Energy because of its better ESG profile in the natural gas utilities sector, its dividend commitment (increasing the dividend payout ratio by 4 percentage points to 44% in 2024, reaching 50% in the medium term) and share repurchase measures boosting investors.
CICC maintains its "neutral" rating for enn energy (02688) with a raised target price of HKD 58.
CICC International lowered Enn Energy's (02688) core profit forecast for 2024/2025 by 3%/3%.
Hong Kong stocks surge | enn energy (02688) rises more than 3%, leading the gas stock. The gradual promotion of national price increase and the double increase in profit and valuation of urban gas companies are expected.
Gas stocks are generally rising. As of press time, ENN Energy (02688) rose 3.63% to HKD 62.75; Kunlun Energy (00135) rose 2.83% to HKD 8.35; China Gas Holdings (00384) rose 2.33% to HKD 7.46.
ENN Energy Holdings (HKG:2688) Hasn't Managed To Accelerate Its Returns
ENN Energy (02688.HK) was reduced by The Capital Group by 0.7566 million shares.
According to the latest equity disclosure information from the HKEX, on July 12, 2024, enn energy (02688.HK) was reduced by The Capital Group Companies, Inc. in the market at an average price per share of 63.7789 Hong Kong dollars for a total of 0.7566 million shares, involving approximately 48.2564 million Hong Kong dollars. After the reduction, The Capital Group Companies, Inc.'s latest holdings decreased from 11.03% to 10.9% with a total of 123,970,526 shares.
Hong Kong Stock Market Exchanges | enn energy (02688) falls over 5% again. Lyon claims that May's operating data fall short of expectations. Goldman Sachs expects mainland gas demand to remain strong.
Zhixin Finance APP learned that ENN Energy (02688) fell more than 5% again. As of press time, it fell 4.84% to HK$60.9, with a turnover of HK$0.106 billion. Lyon previously published a research report stating that the management of ENN Energy is confident in achieving all goals for the 2024 fiscal year. Although the company's operational data in the first five months of this year was lower than expected, the company still maintained a 6.4% market share from January to April of this year. Although the recent uncertainty of ENN Energy and the lower-than-expected growth in its retail natural gas business have postponed the opportunity for the company to be re-evaluated, the company continues to gain.
Hong Kong Shares Rise 1.0%, Tracking Wall Street Gains -- Market Talk
Stocks of gas companies rose mostly, with China Res Gas (01193) rising more than 4%. Credit Suisse is bullish on the high unit growth of mainland gas demand.
Most gas stocks are up. As of press time, China res gas (01193) increased by 4.02%, reaching HKD 29.75; kunlun energy (00135) increased by 2.36%, reaching HKD 9.1; China gas hold (00384) increased by 0.82%, reaching HKD 7.35.
Lyon reiterates its 'buy' rating on ENN Energy, with a target price lowered to HKD 80.9.
Lyon released a research report stating that it reiterates its 'buy' rating on enn energy (02688), based on the previous downward sales forecast, the target price was lowered from HKD 84.4 to HKD 80.9. However, due to the increase in regular income from henry hub natural gas and the expansion of profit per unit, the view on mid-term profit improvement remains unchanged. The report states that although enn energy has recently experienced uncertainty and retail natural gas business growth has been lower than expected, it has postponed the opportunity for the company's re-evaluation. However, the bank believes that sustained profitability will be the key to releasing the positive momentum of the company's stock price. The company's management is confident in achieving all targets for the fiscal year 2024.
ENN Energy Holdings (HKG:2688) Takes On Some Risk With Its Use Of Debt
Hong Kong stocks concept tracking | Gas sector boosted against the market, global heat wave pushes up henry hub natural gas prices (with concept stocks)
In the afternoon of June 24, Hong Kong stocks of gas rose against the trend, with China Res Gas (01193) up 1.64%, ENN Energy (02688) up 1.13%, and Kunlun Energy (00135) and other stocks following the rise.
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