image
15
April 3, 2018
24

Top Longs Based on Momentum

968
tickernamecountrysectorPeriodChange
RWERWE AGGermanyUtilities25.55
384CHINA GAS HOLDINGS LTDChinaUtilities17.42
384CHINA GAS HOLDINGS LTDChinaUtilities17.42
916CHINA LONGYUAN POWER GROUP CORP LTChinaUtilities16.67
IRAOINTER RAO EESRussian FederationUtilities16.67
2688ENN ENERGY HOLDINGS LTDChinaUtilities14.93
EOANE.ON NGermanyUtilities12.25
EDPENERGIAS DE PORT SAPortugalUtilities10.79
NG.NATIONAL GRID PLCUnited KingdomUtilities10.51
ENGIENGIE SAFranceUtilities10.32
25

Top Shorts Based on Momentum

9e3
tickernamecountrysectorPeriodChange
GAILGAIL INDIA LTDIndiaUtilities-27.59
ELET6CENTRAIS ELETR BRAS-ELETROBRAS SERBrazilUtilities-17.24
ELET3CENTRAIS ELETR BRAS-ELETROBRASBrazilUtilities-16.62
371BEIJING ENTERPRISES WATER GROUP LTChinaUtilities-13.85
371BEIJING ENTERPRISES WATER GROUP LTChinaUtilities-13.85
PGASPERUSAHAAN GAS NEGARA (PERSERO) ORIndonesiaUtilities-10.53
TPETAURON POLSKA ENERGIA SAPolandUtilities-10.13
SBSP3COMPANHIA DE SANEAMENTO BASICO DEBrazilUtilities-8.99
SBSP3COMPANHIA DE SANEAMENTO BASICO DEBrazilUtilities-8.99
YTLPYTL POWER INTERNATIONAL BHDMalaysiaUtilities-7.14
331
MLIndexnameytd1monthFy1PE
MXEF Index MSCIMSCI EM2.39-0.8411.4
DJUSUTT Index Dow JonesDJ US UtilitiesTr-3.633.6815.9
25

Commodities YTD Performance

1f40
NameUnitsKeyLastPriceCurrencyYTDChange USDpct1month
Cocking CoalCNY/MTCocking Coal1500CNY44.233.45
Cocoa (ICE)USD/MTCocoa2558.00USD32.3331.45
SteelUSD/MTSteel588USD12.004.26
NickelUSD/MTNickel13350USD8.98-3.82
Ethanol (CBOT)USD/gal.Ethanol1.47USD8.095.76
Lumber (CME)USD/1000 board feetLumber484.80USD7.661.47
Lean Hogs (CME)USd/lb.Lean Hogs0.7547USD5.802.78
Cotton #2 (ICE)USd/lb.Cotton0.8186USD5.713.96
Soybean (CBOT)USd/bu.Soybean10.2025USD5.643.00
Canola (ICE)CAD/MTCanola517.70CAD5.574.25
Rough Rice (CBOT)USD/cwtRough Rice12.31USD4.68-0.81
Brent Crude (ICE)USD/bbl.Oil69.42USD4.450.65
Corn (CBOT)USd/bu.Corn3.7225USD4.133.55
3Mo Tin (LME)USD/MT3Mo Tin20850.00USD4.12-4.90
Gold SpotUSD/t oz.Gold1347.33USD2.710.93
Wheat (CBOT)USd/bu.Wheat4.5025USD2.33-0.44
Platinum SpotUSD/t oz.Platinum957.63USD1.96-3.77
Orange Juice (ICE)USd/lb.Orange Juice1.3575USD-0.33-11.04
Oats (CBOT)USd/bu.Oats2.2725USD-2.26-15.52
Silver (Comex)USD/t oz.Silver16.62USD-3.26-2.69
3Mo Zinc (LME)USD/MT3Mo Zinc3203.00USD-3.50-9.77
Feeder Cattle (CME)USd/lb.Feeder Cattle1.3853USD-4.79-5.76
Copper (Comex)USd/lb.Copper3.0115USD-7.98-4.96
3Mo Aluminum (LME)USD/MT3Mo Aluminum2075.00USD-8.51-6.74
Coffee 'C' (ICE)USd/lb.Coffee1.1795USD-9.02-5.60
Palladium SpotUSD/t oz.Palladium983.08USD-9.89-9.07
Live Cattle (CME)USd/lb.Live Cattle1.084USD-11.69< 3a0 /td>-13.28
Natural Gas (Nymex)USD/MMBtuNatural Gas2.59USD-14.24-19.31
Rubber (Tokyo)JPY/kgRubber174.60JPY-15.65-10.69
Sugar #11 (ICE)USd/lb.Sugar0.1264USD-17.39-7.53
37

Country USD Yields Ordered By YTD Yield Chance

35
6c
34

Utilities Regional Performance Last Month

6f7
SubindustryEuropeEMUGEMWorld
Utilities: Multi-Utilities0.120.090.43-0.34
Utilities: Electric Utilities0.100.090.18-0.37
Utilities Sector0.110.090.05-0.39
Utilities Industry Group0.110.090.05-0.39
Utilities: Water Utilities0.180.00-0.34-0.52
Utilities: Independent Power & Renewable Electricity Producers0.090.09-0.03-0.56
Utilities: Gas Utilities0.090.090.00-0.69
2d

Utilities Regional Performance YTD

6fc
SubindustryEuropeEMUGEMWorld
Utilities: Gas Utilities3.263.2611.461.89
Utilities: Independent Power & Renewable Electricity Producers-2.42-2.42-0.151.71
Utilities: Electric Utilities1.370.242.27-1.74
Utilities Sector0.160.522.93-2.74
Utilities Industry Group0.160.522.93-2.74
Utilities: Multi-Utilities-0.220.920.04-4.97
Utilities: Water Utilities-10.880.00-3.24-11.07
40

Utilities Performance in Various Countries Last Month

b6f
countryPeriodChange
Germany18.90
Portugal10.79
Russian Federation8.33
United Kingdom7.18
Qatar6.96
France6.15
Japan6.08
Italy6.02
China4.50
Colombia4.15
United States3.92
Czech Republic3.75
Spain3.42
Mexico2.74
Hong Kong2.43
Canada2.22
Argentina1.92
Korea (South)1.18
Thailand0.62
Chile0.45
Australia0.15
Romania0.00
Oman0.00
Malaysia-0.34
Finland-0.83
Bangladesh-2.33
Philippines-2.70
Brazil-4.26
Morocco-5.91
Poland-7.06
India-9.93
Indonesia-10.53
4f

Utilities Valuation and Growth in Various Countries (Simple Averages)

11ec
CountryPEFy0PEFy12018Growth
GERMANY0.0010.5371.72
FINLAND0.000.0040.43
SPAIN12.7817.7139.22
INDIA11.818.9635.90
AUSTRALIA31.6815.0431.76
RUSSIA4.913.4630.91
CANADA16.0210.5922.74
ITALY14.9713.3620.97
JAPAN13.1612.3210.74
MALAYSIA17.7416.908.07
BRAZIL9.369.586.50
HONG KONG15.0117.166.01
CZECH0.0014.855.65
PORTUGAL0.0011.885.25
THAILAND13.1014.915.19
UNITED STATES16.3314.554.88
AUSTRIA12.4423.424.18
NEW ZEALAND18.9016.201.29
ROMANIA0.000.000.00
COLOMBIA5.170.000.00
CHILE10.4910.53-4.54
PHILIPPINES12.8312.74-5.30
BRITAIN11.2611.63-6.79
CHINA9.7713.81-8.37
FRANCE14.8813.77-9.48
SOUTH KOREA0.003.86-24.64
INDONESIA15.3424.06-38.11
e99
Emerging Markets Electric Utilities
  • Market-based IRPs: A new paradigm for grid planning?
  • Power utilities racing ahead with new digital technologies: experts
  • 'Solar Mamas' Get Power to Rural Mexicans Utilities Can't Reach
  • German power deal sets template for EU utilities M&A/---/
    Emerging Markets Utilities
  • Olivia Engel's top three observations from the recent market sell-off
  • Moody's: Most corporate defaults in advanced markets, but default ...
  • Market-based IRPs: A new paradigm for grid planning?
  • German power deal sets template for EU utilities M&A/---/
    Emerging Market Power Plant
  • Global Virtual Power Plant Market Will Hit $5.5 Million Value By 2023
  • Japan sees opportunity in Southeast Asia's energy markets
  • Sungrow Prepares for Major Growth in Emerging APAC Solar Markets
  • Nuclear Power Plant Equipment Market Outlook to 2023: Emerging .../---/
    Emerging Market Electric Grid
  • Global Virtual Power Plant Market Will Hit $5.5 Million Value By 2023
  • Market-based IRPs: A new paradigm for grid planning?
  • Off Grid Breakthroughs and Challenges
  • Emerging Europe's Self-Driving, Electric Dreams/---/

    Valuation and Growth of Various Sectors in Utilities

    35
    533
  • Pre-Market Technical Scan on Electric Utilities Equities -- Alliant ...
  • What's Happening With These Electric Utilities Stocks? -- CMS ...
  • What's Happening With These Electric Utilities Stocks? -- Duke ...
  • Morning Technical Insight on These Electric Utilities Stocks ...
  • Barclays loses utilities analyst as Mifid rules bite 4
    54d
  • Did China Primary Energy Holdings Limited's (HKG:8117) Earnings ...
  • NTPC Limited (NSE:NTPC): Good Growth, Poor Health
  • Should You Be Concerned About United Utilities Group PLC's (LON ...
  • What Are Analysts Saying About Public Joint Stock Company ...
  • Power Grid Corporation of India Limited (NSE:POWERGRID): Good ... 4
    3f5
  • NextEra Energy and Dominion Energy: How Do They Stack Up?
  • NTPC Limited (NSE:NTPC): Good Growth, Poor Health
  • When Will Public Joint Stock Company Magadanenergo (MCX ...
  • Electricity cap kicks in as price spikes
  • DRP Utility Market Cap Reaches $1.14 Million (DRPU) 6b

    Link to Utilities Macro Page 37

    Utilities sector trades at 2018 simple average 13 PE Fy1 of 11.2 x a and 2018 13 PE Fy2 of 10.3 x 37

    Utilities sector trades at 2018 simple average 16 EV/EBITDA of 7.0 x a and 2018 15 EV/EBITDA of 6.5 x 44

    In terms of Dividend yield Utilities sector trades at 2018 1c Yield of 3.5 % and 2018 50 Dividend Yield of 3.4 %

    On ROE basis Utilities sector trades at 2018 1a ROE of 9.3 % and 2018 54 ROE of 9.5 %

    Largest Companies in Utilities by Market Capitalisation mn$

    16e3
    TickerCompanyCountryIndustrySubIndustryMarketCapUSDmn
    NEE USNextEra Energy IncUNITED STATESUtilitiesElectric Utilities73467.4
    ENEL IMEnel SpAITALYUtilitiesElectric Utilities60217.1
    DUK USDuke Energy CorpUNITED STATESUtilitiesElectric Utilities53690.0
    D USDominion Energy IncUNITED STATESUtilitiesMulti-Utilities48779.6
    IBE SMIberdrola SASPAINUtilitiesElectric Utilities48609.1
    SO USSouthern Co/TheUNITED STATESUtilitiesElectric Utilities44089.4
    EDF FPElectricite de France SAFRANCEUtilitiesElectric Utilities39141.9
    EXC USExelon CorpUNITED STATESUtilitiesElectric Utilities36458.8
    AEP USAmerican Electric Power Co IncUNITED STATESUtilitiesElectric Utilities33084.2
    SRE USSempra EnergyUNITED STATESUtilitiesMulti-Utilities29923.7
    3 HKHong Kong & China Gas Co LtdHONG KONGUtilitiesGas Utilities26467.0
    PEG USPublic Service Enterprise Group IncUNITED STATESUtilitiesMulti-Utilities25013.5
    2 HKCLP Holdings LtdHONG KONGUtilitiesElectric Utilities24548.4
    ED USConsolidated Edison IncUNITED STATESUtilitiesMulti-Utilities24139.6
    TNB MKTenaga Nasional BhdMALAYSIAUtilitiesElectric Utilities22903.8
    XEL USXcel Energy IncUNITED STATESUtilitiesElectric Utilities22686.9
    GAS SMGas Natural SDG SASPAINUtilitiesGas Utilities22638.6
    EOAN GRE.ON SEGERMANYUtilitiesMulti-Utilities22189.2
    PPL USPPL CorpUNITED STATESUtilitiesElectric Utilities21641.8
    NTPC INNTPC LtdINDIAUtilitiesIndependent Power Producers &20859.2

    Number of Companies in Utilities by Country by SubIndustry and Market Capitalisation mn$

    125d
    CountryIndustrySubIndustryNumber of companiesMarketCapUSDmn
    SOUTH KOREAUtilitiesElectric Utilities119911.7
    SOUTH KOREAUtilitiesGas Utilities14070.0
    HONG KONGUtilitiesGas Utilities349406.1
    CHINAUtilitiesGas Utilities18831.9
    HONG KONGUtilitiesWater Utilities19294.7
    HONG KONGUtilitiesElectric Utilities124548.4
    HONG KONGUtilitiesIndependent Power Producers &18167.4
    CHINAUtilitiesIndependent Power Producers &219591.8
    CHINAUtilitiesRenewable Electricity29059.5
    JAPANUtilitiesElectric Utilities644143.0
    JAPANUtilitiesIndependent Power Producers &14824.5
    UNITED STATESUtilitiesMulti-Utilities13222686.1
    UNITED STATESUtilitiesElectric Utilities15372318.9
    UNITED STATESUtilitiesIndependent Power Producers &320352.6
    CHILEUtilitiesIndependent Power Producers &36675.2
    AUSTRALIAUtilitiesMulti-Utilities111698.0
    CHILEUtilitiesWater Utilities14023.4
    RUSSIAUtilitiesElectric Utilities2137910.4
    PHILIPPINESUtilitiesIndependent Power Producers &15599.5
    AUSTRALIAUtilitiesGas Utilities17194.8

    Top Companies Utilities by Dividend Yield

    6d3
    TickerCompanyCountryIndustrySubIndustryDividendYld_fy1
    MRKP RMIDGC of Centre and Volga Region PJSCRUSSIAUtilitiesElectric Utilities11.5
    MSRS RMMoscow United Electric Grid Co PJSCRUSSIAUtilitiesElectric Utilities11.2
    CNA LNCentrica PLCBRITAINUtilitiesMulti-Utilities9.3
    TAEE11 BZTransmissora Alianca de Energia Eletrica SABRAZILUtilitiesElectric Utilities9.3
    MRKC RMIDGC of Centre PJSCRUSSIAUtilitiesElectric Utilities9.2

    Cheapest Companies in Utilities on FY1 PE

    70c
    TickerCompanyCountryIndustrySubIndustryPE_fy1
    RSTI RMROSSETI PJSCRUSSIAUtilitiesElectric Utilities1.8
    FEES LIFederal Grid Co Unified Energy System PJSCRUSSIAUtilitiesElectric Utilities3.0
    FEES RMFederal Grid Co Unified Energy System PJSCRUSSIAUtilitiesElectric Utilities3.1
    9501 JPTokyo Electric Power Co Holdings IncJAPANUtilitiesElectric Utilities3.8
    MRKP RMIDGC of Centre and Volga Region PJSCRUSSIAUtilitiesElectric Utilities4.3


    Earnings Relises and Dividends

    4c4
  • 0