Acciona increases its stake in its energy subsidiary to 87%

Acciona increased its stake in its energy subsidiary Acciona Energía to 86.8%., after acquiring several financial instruments with a current market value of approximately 200 million euros.

According to the National Securities Market Commission (CNMV), These are two signed absolute return financial swap contracts: the first on July 30th and the second on October 3rd.

In particular, each of These two movements affected 4,938,759 shares, which together represent 3.041% of Acciona Energía’s share capital and approximately €196 million at the price at which its shares are currently listed (€19.93).

Just this week Activate energy On Tuesday, the stock market fell almost 6% after Goldman Sachs maintained a sell recommendation on its securities, lowering its target price to 18.5 euros from the previous 20 euros.

Acciona rating

Goldman Sachs changed its recommendation from neutral to sell in June last year, becoming the only 29-house watchdog on the Spanish energy company to maintain a “sell” rating on the stock.

Up to 15 analysts recommend a “buy”, another 13 recommend a “hold” and only one, Goldman Sachs, recommends a “sell”. Analyst consensus Bloomberg gives you target price of €24.74 per share, which represents a revaluation potential of 28% compared to the current share price.

In July 2021, Acciona floated 15% of the capital of its energy subsidiary on the stock market, which at that time became independently listed at €26.73 and valued at €8.8 billion.

In the following months It reached €44 per share after the outbreak of war in Ukraine, which led to a sharp rise in energy prices, but it subsequently fell on the stock market and is now trading at €6.4 billion.

Apart from Acciona, the fund stands out among other shareholders Millenniumwhich retains a shareholding of about 2% of the capital. As of September 25, this fund had a 0.68% bearish position on Acciona Energía.