|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||28.60 - 28.60|
|52 Week Range||24.26 - 30.01|
|Beta (5Y Monthly)||0.78|
|PE Ratio (TTM)||15.54|
|Forward Dividend & Yield||1.27 (4.44%)|
|Ex-Dividend Date||Nov 16, 2022|
|1y Target Est||N/A|
The Spanish government will ensure Naturgy's plans to spin off its power and gas infrastructure meet conditions set by authorities when Australian fund IFM bought a stake in the utility company, Energy Minister Teresa Ribera said on Tuesday. Naturgy wants to split into two separately listed entities, with one focused on infrastructure and the other handling power generation and marketing. "The last major deal was the entry of the Australian fund IFM, subject to an authorisation with conditions that we intend to monitor particularly closely," Ribera said when asked if the spin-off was "unwelcome".
Algeria's Sonatrach and Spanish power group Naturgy have revised gas prices for 2022 but delayed price talks for next year and beyond amid surging demand and after a diplomatic spat between the countries. Sonatrach supplies around 5 billion cubic meters of gas a year to Spain through contracts signed more than two decades ago and valid until 2030 with periodic price reviews. Naturgy said the companies had established a new price retroactively applicable for volumes supplied to the end of 2022, and had also agreed to continue negotiating prices applicable from next year.
Natural gas prices look set to remain high, prompting producers to look at the amount they can charge buyers, Spanish gas group Naturgy's chief executive was quoted as saying on Thursday. The price at which Naturgy buys gas from Algerian state-owned producer Sonatrach would rise "significantly" and be applied retroactively from January 2022, CEO Francisco Reynes told online newspaper elEconomista.es. Reuters previously reported that Sonatrach, which said last week it was reviewing prices with all its clients, was considering several different formulas to incorporate rising global gas prices into its contracts.