新奥能源:被低估的城市燃气龙头

东吴证券
21 Mar

投资要点全国第三大燃气公司,现金流良好匹配资本开支,分红稳定提升。截至2023 年底,新奥能源在全国21 个省份运营260 个城市燃气项目,覆盖1.39 亿人口,服务3053 万个家庭用户及25+万家企业客户,零售气量占全国表观消费量6.4%,为全国第三大燃气公司。2023 年经营性现金流为96.1 亿元,净现比达到1.2,实现现金流与资本开支的良好匹配;公司每股派息额由2013 年的0.38 元...

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