Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Eni S.p.A.
  6. News
  7. Summary
    ENI   IT0003132476

ENI S.P.A.

(ENI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Eni S p A : pledges higher returns after Q2 beat

07/30/2021 | 05:53am EDT
FILE PHOTO: The logo of Italian energy company Eni is seen at the booth of Eni during the Nigeria International Petroleum Summit in Abuja

MILAN (Reuters) - Italian energy group Eni pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production.

Adjusted net profit was 929 million euros ($1.1 billion), compared with a loss of 714 million euros in the year-earlier period, Eni said on Friday. The result beat an analyst consensus of 570 million euros.

"These results, the progress on delivering our strategy, the outlook, and a Brent reference scenario of $65/bbl, have allowed us to increase our dividend back to pre-COVID levels," said Chief Executive Claudio Descalzi.

Santander said the results were strong with a major step-change in cash returns. "We see a consequent positive trading reaction vs peers short term," oil analyst Jason Kenney said.

Eni shares were up 1.4% at 0900 GMT while the European oil&gas index was down 0.2%.

Eni, which cut its dividend last year to 0.36 euros, said it would pay a 2021 dividend of 0.86 euros per share and launch a 400 million euro share buyback.

The hike follows similar moves at peers like Shell, as the industry signals confidence in a lasting recovery from the pandemic, reassuring investors on the roll out of risky climate strategies.

Eni has launched one of the industry's most ambitious clean-up strategies, pledging carbon neutrality by 2050 and shifting into clean energy as it phases out oil production.

On Friday it doubled its forecast for renewable energy capacity this year to 2 gigawatts, while confirming an oil and gas production forecast of about 1.7 million boe/d.

The group, which is targeting renewable capacity of 15 GW in 2030, has snapped up a series of renewable energy portfolios in recent weeks and pledged to ramp up green generation in some countries where it already operates.

($1 = 0.8422 euros)

(Reporting by Stephen Jewkes; Editing by Maria Pia Quaglia, Kirsten Donovan and Mike Harrison)

By Stephen Jewkes


ę Reuters 2021
All news about ENI S.P.A.
03:54aENI S P A : Chief Urges EU To Create Long-Term Energy Security Plan
MT
09/25ENI S P A : Europe needs long-term energy plan, Eni CEO says
RE
09/24ENI S P A : Kicks Off Production At Cabaça North Project In Angola
MT
09/24ENI S P A : achieves start-up from Cabaça North development project in the Eastern area of..
PU
09/24European stocks slip on Evergrande woes, weak German business morale
RE
09/23ENI : JP Morgan keeps its Buy rating
MD
09/23ENI S P A : first Energy Compact recognized by UN-Energy and Sustainable Energy for All
PU
09/22ENI S P A : Unit Acquires 60% Of Finproject
MT
09/22ENI S P A : Versalis to acquire remaining 60% stake in Finproject to become the Italian le..
PU
09/22ENI : Report on the purchase of treasury shares during the period from September 13 to Sep..
PU
More news
Analyst Recommendations on ENI S.P.A.
More recommendations
Financials
Sales 2021 69 286 M 81 044 M 81 044 M
Net income 2021 2 988 M 3 495 M 3 495 M
Net Debt 2021 16 817 M 19 670 M 19 670 M
P/E ratio 2021 12,9x
Yield 2021 7,86%
Capitalization 38 972 M 45 602 M 45 585 M
EV / Sales 2021 0,81x
EV / Sales 2022 0,74x
Nbr of Employees 31 436
Free-Float 67,8%
Chart ENI S.P.A.
Duration : Period :
Eni S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ENI S.P.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 10,93 €
Average target price 12,11 €
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
Claudio Descalzi Chief Executive Officer, Director & GM
Francesco Gattei Chief Financial Officer
Lucia Calvosa Chairman
Francesca Zarri Director-Technology, Digital, R&D
Giuseppe Ricci Chief Operating Officer-Energy Evolution
Sector and Competitors
1st jan.Capi. (M$)
ENI S.P.A.27.89%45 634
SAUDI ARABIAN OIL COMPANY0.29%1 870 305
ROYAL DUTCH SHELL PLC23.11%162 099
PETROCHINA COMPANY LIMITED58.33%149 503
TOTALENERGIES SE12.45%122 722
PUBLIC JOINT STOCK COMPANY GAZPROM61.96%111 774