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Eni SpA ADR E

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Stock XNYS Rating as of
$32.80 +0.01 (0.03%)
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As of Delayed Price Closed
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Company Report

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Eni Earnings: Results as Expected as Strategic Actions Continue

Allen Good

Eni reported adjusted net earnings of EUR 1.6 billion in the first quarter of 2024 compared with EUR 2.9 billion the year before, nearly meeting market expectations. The decline was primarily attributable to weaker gas and liquefied natural gas results due to lower prices and weaker trading results. Hydrocarbon production grew 5% from the year before on project ramp-ups and the Neptune Energy acquisition. Our fair value estimate and no-moat rating are unchanged.

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Price vs Fair Value

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E is trading at a 2% premium.
Price
$33.30
Fair Value
$14.50
Uncertainty
High
1-Star Price
$56.67
5-Star Price
$97.80
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Recent discoveries of large natural gas fields endow Eni with low-cost growth opportunities during the next five years.

Bears

Eni’s upstream portfolio is exposed to higher geopolitical risks than its peers, which resulted in production shutdowns and outstanding payments. These risks will persist, as diversification appears unlikely.

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Trading Information

Previous Close Price
$32.79
Day Range
$32.45–32.86
52-Week Range
$26.50–34.30
Bid/Ask
$32.42 / $33.22
Market Cap
$52.39 Bil
Volume/Avg
145,333 / 239,131

Key Statistics

Price/Earnings (Normalized)
7.46
Price/Sales
0.55
Dividend Yield (Trailing)
6.11%
Dividend Yield (Forward)
6.11%
Total Yield
10.69%

Company Profile

Eni is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, the company produced 0.8 million barrels of liquids and 4.5 billion cubic feet of natural gas per day. At end-2022, Eni held reserves of 6.6 billion barrels of oil equivalent, 48% of which are liquids. The Italian government owns a 30.1% stake in the company. Eni is placing its renewable and low-carbon business in a separate entity called Plentitude, which it will likely list publicly at some point.
Sector
Energy
Industry
Oil & Gas Integrated
Stock Style Box
Large Value
Total Number of Employees
33,142
Website
https://www.eni.com

Competitors

Valuation

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Metric
E
REP
SHELL
Price/Earnings (Normalized)
 7.463.818.81
Price/Book Value
 0.890.681.32
Price/Sales
 0.550.320.79
Price/Cash Flow
 3.603.515.98
Price/Earnings
E
REP
SHELL

Financial Strength

Metric
E
REP
SHELL
Quick Ratio
 0.931.070.90
Current Ratio
 1.301.541.40
Interest Coverage
 1.359.407.40
Quick Ratio
E
REP
SHELL

Profitability

Metric
E
REP
SHELL
Return on Assets (Normalized)
 4.89%8.29%6.70%
Return on Equity (Normalized)
 12.70%19.26%14.92%
Return on Invested Capital (Normalized)
 8.61%13.86%10.59%
Return on Assets
E
REP
SHELL
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