Enagas Joins Forces to Develop the BarMar Hydrogen PipelineNaTran, Enagás and Terega Join Forces to Develop the BarMar Hydrogen Pipeline
Ion Jauregui – ActivTrades Analyst
French company NaTran, a subsidiary of energy giant Engie, has announced the creation of a joint venture with Spanish firm Enagás and gas infrastructure operator Terega to develop the BarMar hydrogen pipeline—a key connection for the transport of green hydrogen between the Iberian Peninsula and France. The announcement follows last week’s approval of European funds that will cover 50% of the project’s development costs, strengthening its economic and strategic viability. BarMar is part of the broader H2Med corridor, which aims to position Spain as a renewable hydrogen export hub to Europe’s industrial heartland.
Fundamental Analysis of Enagás
Enagás (ENG.MC) is a strategic operator within Europe’s gas infrastructure and has, in recent years, taken clear steps toward the transportation of renewable gases such as hydrogen and biomethane. Its involvement in projects like BarMar and H2Med reinforces its role as a key player in the decarbonisation of the European energy sector. Financially, Enagás maintains a stable distribution policy, offering a dividend yield above 8%, one of the highest in the IBEX 35. However, its growth potential is limited by the maturity and regulatory nature of its core business. That said, new investments in energy transition projects could serve as medium- to long-term growth catalysts, diversifying its revenue profile. Moreover, its participation in EU-backed consortia improves financial visibility and provides solid institutional support.
Technical Analysis of Enagás
In today’s session, Enagás shares (ENG.MC) opened at €13.65, following a week of corrective moves that concluded last Thursday. Since May, the stock has shown a lateral consolidation pattern between €13.50 and €14.00, the current yearly highs. This range has acted as a technical pause after the declines recorded between April and May. Despite recent pullbacks, the broader structure remains bullish, and the price is currently positioned at a relevant support zone: last year's highs, which now serve as a technical base. If this support holds, a sustained breakout above €14 could pave the way toward €14.75—the highs of 2023. Conversely, a breakdown below €13.50 could send the price toward the current point of control (PoC) around €12.83, where the highest recent trading volume is concentrated. The daily RSI is near the neutral 50 level, indicating a market in consolidation, with no clear signs of overbought or oversold conditions. Meanwhile, a golden cross formed in April remains in place, supporting the idea of accumulation at current levels. However, the MACD shows a downward slope, suggesting that selling pressure has not fully subsided and that further tests of support or even an extended correction may occur if buying volume remains weak.
Conclusion
Enagás is at a technically pivotal stage, with key support at €13.50 and potential upside toward €14.75 if resistance is breached. The company’s involvement in the BarMar project not only highlights its strategic role in Europe’s energy infrastructure but also strengthens its position in the emerging energy model. While the technical outlook suggests short-term equilibrium with potential volatility, the fundamentals point to a stable profile, backed by energy transition investments and institutional support.
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ENG trade ideas
BUYS ON ENAGAS💡 Today we analyze Enagás (ENG)
Enagás is a solid company, although it has faced pressures for its dividend policy. Currently in a downward trend, the stock could be close to a change, but it is key to wait for the price to exceed €15.5, breaking the resistance and the bearish trend.
1. Operational Solidity: Enagás is a leader in gas infrastructure management and has a stable business model.
2. Energy Expansion: With the energy transition in Europe, Enagás is well positioned in hydrogen and renewable energy projects.
3. Technical Opportunity: Exceeding €15.5 would be a confirmation signal of a possible change in trend.
4. Risks: It is important to monitor the dividend situation and external factors such as energy regulation.
This analysis is not an investment recommendation.
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Following the Trend with ENAGASHello traders! Today I would like to share with you a trade that I am about to embark on. As part of my investment approach, I have decided to risk 1% of my portfolio on an opportunity I have identified in ENAGAS, a stock that shows signs of reversal for a possible longer-term uptrend.
Approaching the Weekly Close
Just minutes before this week's close, I am planning to enter a position in ENAGAS. I am watching to buy as close as possible to the close of this weekly candlestick.
Risk Management and Stop Loss
For this trade, I am setting my stop loss at 13.095. This level was carefully chosen because it represents the first sign that the possible longer-term uptrend may not materialize. As a follower of the trend-following philosophy, my strategy is to cut losses quickly and allow profits to develop over time.
No Defined Targets: Trend-Following Philosophy
It is important to note that, following the trend-following philosophy, I have chosen not to set specific targets for this trade. The strategy is to allow the trend to develop and adjust the position as necessary, focusing on capturing the most significant price movements.
Disclaimer: Everyone's Own Analysis and Regular Updates
It's important to acknowledge that I could be wrong in my analysis and trading decisions. I encourage everyone to conduct their own analysis and exercise caution when making investment decisions. I will continue to provide updates on all movements I make in this trade, allowing for transparency and learning from both successes and failures.
Enagas: Top pick for a dividend strategyWith a yearly dividend yield of 6.6%, it is at the current moment one of the bests in the Spanish stock exchange. Moreover, from the technical analysis perspective, we have a strong support level on the daily chart (19.47 from last candle) and on the weekly chart (17.71). We have in our HT 200 portfolio for the long term and so far we have +10.70% + dividends. 2022 looks a year for value investing and dividend investors, as they are become more risk averse in comparison to 2020 and the increasing inflation, so we believe companies such as Enagas, with a reliable net income in all quarters, offer a safe heaven for these type of investors.