E - Eni: Higher Outlook And Buyback Raise
2024-04-27 06:43:37 ET
Summary
- Eni has agreed with Ithaca Energy to combine upstream business activities in the UK. This supports the company's satellite strategy development.
- Higher guidance with a €500 million higher buyback. In addition, Eni will launch an Employee Stock Ownership Plan to align stakeholders' interests.
- Solid perfomance and a compelling valuation make Eni a buy.
On 24/04/2024, Eni ( E ) released its Q1 trading update. For our new readers, the company's activities started in 1926 with an Italian government mandate to develop a state-owned integrated oil player. Eni is now a global company with multiple operations in upstream & downstream (in oil and gas), electricity generation with renewable power facilities, biorefining, and chemical solutions....
Eni: Higher Outlook And Buyback Raise