Eni (E) Considers 20% Stake Sale in Its Enilive Biorefining Unit

23.05.24 13:08 Uhr

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Eni SpA E, a prominent player in the Italian energy sector, is considering the sale of a 20% stake in its Enilive biorefining unit, following a display of interest from potential buyers, per a Bloomberg report on Wednesday. The discussions are still in the preliminary stages, and Eni is evaluating various options for the unit, which has an estimated value of €10 billion.Enilive's Operations and Financial PerformanceThe Enilive business includes biorefining and biomethane assets, along with mobility solutions. In the first quarter of 2024, Enilive reported an adjusted EBITDA of €250 million, marking a 27% increase from the prior-year reported figure. This highlights the unit's growth potential and viability for investors.Market Context and Strategic RationaleThe potential sale aligns with Eni’s strategy to capitalize on the increasing interest in sustainable energy solutions and biofuels. Under the leadership of chief executive officer Claudio Descalzi, the company is implementing a "satellite model," which involves either listing divisions independently or seeking partnerships with external investors to foster its development. By leveraging the value of its Enilive unit, Eni aims to attract investors and enhance its focus on developing environmentally friendly technologies.Future Plans for Eni's DivisionsIn addition to the potential sale of a stake in Enilive, Eni is also planning to separate its carbon capture unit and Novamont biochemical subsidiary by 2027. These strategic moves are part of the company’s broader efforts to streamline its operations and focus on key growth areas.ConclusionEni's consideration of selling a stake in its biorefining unit reflects the growing market interest in sustainable energy and the company’s strategic efforts to optimize its portfolio. With Enilive's solid financial performance and the anticipated split of other subsidiaries, Eni is positioning itself to capitalize on future growth opportunities in the energy transition landscape.Zacks Rank & Other Key PicksE currently has a Zack Rank #2 (Buy).Investors interested in the energy sector may look at some other top-ranked stocks like Marathon Petroleum Corporation MPC, SM Energy Company SM and Sunoco LP SUN. While Marathon Petroleum sports a Zacks Rank #1 (Strong Buy), SM Energy and Sunoco carry a Zacks Rank #2 each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Marathon Petroleum's acquisition of Andeavor has expanded its foothold in the Permian Basin, creating an enviable retail and marketing portfolio. MPC’s emphasis on operational excellence, safety and environmental responsibility, coupled with investments in low-carbon initiatives, positions it well for sustainable growth and continued value creation for shareholders. The Zacks Consensus Estimate for MPC’s 2024 EPS is pegged at $19.28. The company has a Zacks Style Score of A for Value. It has witnessed downward earnings estimate revisions for 2024 in the past 30 days.SM Energy is set to expand its oil-centered operations in the coming years with an increasing focus on crude oil, especially in the Permian Basin and Eagle Ford regions. The company’s attractive oil and gas investments should create long-term value for shareholders.The Zacks Consensus Estimate for SM’s 2024 EPS is pegged at $6.60. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $5.07 and $4.47, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.Research Chief Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eni SpA (E): Free Stock Analysis Report Sunoco LP (SUN): Free Stock Analysis Report SM Energy Company (SM): Free Stock Analysis Report Marathon Petroleum Corporation (MPC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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DatumRatingAnalyst
16.05.2024Eni OverweightJP Morgan Chase & Co.
29.04.2024Eni HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
25.04.2024Eni BuyGoldman Sachs Group Inc.
25.04.2024Eni OverweightJP Morgan Chase & Co.
24.04.2024Eni KaufenDZ BANK
DatumRatingAnalyst
16.05.2024Eni OverweightJP Morgan Chase & Co.
25.04.2024Eni BuyGoldman Sachs Group Inc.
25.04.2024Eni OverweightJP Morgan Chase & Co.
24.04.2024Eni KaufenDZ BANK
24.04.2024Eni OverweightJP Morgan Chase & Co.
DatumRatingAnalyst
29.04.2024Eni HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
22.04.2024Eni Sector PerformRBC Capital Markets
04.04.2024Eni Sector PerformRBC Capital Markets
28.03.2024Eni Sector PerformRBC Capital Markets
20.03.2024Eni HoldJoh. Berenberg, Gossler & Co. KG (Berenberg Bank)
DatumRatingAnalyst
04.10.2021Eni UnderweightBarclays Capital
30.07.2021Eni UnderweightJP Morgan Chase & Co.
06.07.2021Eni UnderweightJP Morgan Chase & Co.
30.04.2021Eni UnderweightJP Morgan Chase & Co.
22.04.2021Eni UnderweightBarclays Capital

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