What's Going On With Italian Energy Company Eni Shares Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 16 2024
0mins
Source: Benzinga
- Eni S.p.A. Plans to Sell Minority Stakes: Eni S.p.A. is trading lower as it plans to sell minority stakes in its biofuel and bio-plastic units by the end of the year, expecting to garner EUR1.3 billion.
- Divestiture Discussions Underway: The company has initiated talks with funds and industrial investors to find partners interested in up to 10% stake in its biofuel unit, Enilive, which could be valued at EUR10 billion or more.
- Potential Listing or Spin-off: Eni may consider listing Enilive through an IPO or a spin-off. It is also in discussions to sell up to 30% of its bio-plastic business, Novamont, valued at around EUR1 billion.
- Creation of Separate Entities: Eni aims to establish separate "satellite" companies to attract specialized investors for funding greener businesses without affecting resources for oil and gas activities.
- Investor Exposure Opportunities: Investors can access Eni stock through ETFs like Pacer Developed Markets International Cash Cows 100 ETF IDGT and AdvisorShares Dorsey Wright ADR ETF AADR.
Analyst Views on E
Wall Street analysts forecast E stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for E is 18.24 USD with a low forecast of 17.25 USD and a high forecast of 19.23 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 38.780
Low
17.25
Averages
18.24
High
19.23
Current: 38.780
Low
17.25
Averages
18.24
High
19.23
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
