《大行报告》瑞信:公用股息率吸引 首选电能(00006.HK)
瑞信发表研究报告,指电能(00006.HK)去年纯利跌7%至71亿元,主因较弱的货币,以及英国及香港盈利下降,整体派息持平,符预期,股息率吸引达5.5%,是香港的公用股中最高。
该行指,香港盈利跌24%,主因准许回报率由10%降至8%,符预期,英国盈利跌14%,主因英镑疲弱,及缺乏非现金收入入账,澳洲则以本地货币计算见增长,但以港元计则持平,因澳元疲弱。
该行又指,因应低息环境,带动有稳定息率的公用股有支持,公司目前息率较美国10年期国债为高,由年初的300点子升至高480点子,降2020-21年每股盈利预期11-13%,以反映较弱的货币及海外盈利,目标价由67元降至64元,维持「跑赢大市」评级,及行业首选的地位。
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