Founded in 1962 by Italian entrepreneur Enel, the company went public on the Milan Stock Exchange in 1999 and is now included in some of the main global indices such as Euro Stoxx50 and FTSE MIB. With more than 65 million customers worldwide and several business partners throughout Europe, America, Asia, Africa and Oceania, Enel is the largest utility in Europe.
Its market capitalization today is more than €51.44 billion. The company has invested heavily in renewable energy sources to ensure a sustainable and green future for everyone. As a trader, you could benefit from this steady growth of one of the largest utilities in Europe.
The Enel share price has seen a steady rise since the beginning of 2015, with its highest point to date being €8.94 in Jan 2021. This was primarily due to increased investor confidence in the Italian energy giant's ability to weather the COVID-19 pandemic and deliver strong performance results. However, this high was short-lived, and the share price has largely remained in a range of €5.50 to €7.75 since then.
Looking forward, investors will be looking for key events over the next two years that could affect Enel's share price performance - with potential catalysts including new regulations in the renewable energy sector or major contracts won by the company.
Enel is a major player in the energy sector and its competitors include Iberdrola, Endesa, and EDP. All three companies have similar market capitalizations to Enel, with Iberdrola being the biggest of the four. While all four companies are strong competitors in their respective markets. In terms of strengths and weaknesses, Enel excels in its ability to innovate and stay ahead of the curve when it comes to renewable energy investments.
It has also made major strides in improving customer service and digitalizing processes. On the other hand, there are areas in which Enel can improve, such as its customer retention rates and pricing strategies.
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