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Eni SpA price target lowered to EUR 6 from EUR 12 at Morgan Stanley » 13:03
03/20/20
03/20
13:03
03/20/20
13:03
E

Eni SpA

$15.45 /

+0.38 (+2.52%)

Morgan Stanley analyst…

Morgan Stanley analyst Martijn Rats lowered the firm's price target on Eni SpA to EUR 6 from EUR 12 and keeps an Underweight rating on the shares. The analyst believes the company will reduce its dividend by 50% to EUR 0.45 per share.

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Eni withdraws EUR 400M share buyback plan for 2020 » 13:55
03/18/20
03/18
13:55
03/18/20
13:55
E

Eni SpA

$14.21 /

-0.83 (-5.52%)

Eni SpA announced that in…

Eni SpA announced that in light of recent market developments due to the spread of the COVID-19 pandemic and the recent decisions taken by OPEC, its board met today and updated the company's commodities scenario for the years 2020 and 2021, downgrading the forecasts on the Brent price to $40 to $45 dollars in 2020 and $50 to $55 dollars in 2021. The company also withdrew the proposal to authorize the purchase of shares with a total amount of EUR 400M in 2020. The proposal will be reconsidered when the Brent price for the referenced year, which is the benchmark for decisions relating to the buyback plan activation, is at least equal to $60 per barrel, Eni said in a statement. Eni CEO Claudio Descalzi commented: "Following the recent fall in commodities prices and operational constraints caused by the COVID-19 pandemic, Eni promptly started reviewing its planned activities. This revision will consider a strong reduction in the Capex and expected costs to levels that are consistent with the new price scenario. We will maintain the highest standards of safety at work, which have been raised due to current circumstances. Eni's priorities at the moment are safeguarding the health of our people and the communities we operate in, as well as our robust balance sheet and the dividend."

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Downgrade
Eni SpA downgraded to Underperform from Sector Perform at RBC Capital » 07:08
03/16/20
03/16
07:08
03/16/20
07:08
E

Eni SpA

$16.18 /

+1.33 (+8.96%)

RBC Capital analyst Biraj…

RBC Capital analyst Biraj Borkhataria downgraded Eni SpA to Underperform from Sector Perform with a price target of EUR 6, down from EUR 15. The analyst cites his lower oil price assumptions and notes that the company has one of the higher dividend breakevens across his coverage universe, anticipating its cash flows to be challenged in 2020.

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Eni SpA downgraded to Market Perform from Outperform at Bernstein » 06:14
03/09/20
03/09
06:14
03/09/20
06:14
E

Eni SpA

$22.86 /

-1.415 (-5.83%)

Bernstein analyst Oswald…

Bernstein analyst Oswald Clint downgraded Eni SpA to Market Perform from Outperform with a price target of EUR 11, down from EUR 20 amid a broader downgrade of the European integrated oil sector, citing geopolitical opaqueness and numerous unknowns. The analyst is moving to a $50/bbl near term average 2020 oil price assumption as he sees downside, which erodes the upside he had and leaves only BP (BP) and Galp (GLPEY) with more than 15% upside enough to justify Outperform recommendations. With too many unknowns around global economic growth, oil demand growth, the shape of the shale curve, and now OPEC/Russia supply intentions, Clint says this is unchartered waters at least for the short term.

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Over a month ago
Conference/Events
BusinessEurope to hold a conference » 04:55
03/05/20
03/05
04:55
03/05/20
04:55
ACN

Accenture

$188.85 /

+6.59 (+3.62%)

, AHEXY

Adecco

$0.00 /

+ (+0.00%)

, BASFY

BASF

$0.00 /

+ (+0.00%)

, E

Eni SpA

$24.95 /

+0.435 (+1.77%)

BusinessEurope Day 2020…

BusinessEurope Day 2020 will be held in Brussels, Belgium on March 4-5.

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Conference/Events
BusinessEurope to hold a conference » 07:50
03/04/20
03/04
07:50
03/04/20
07:50
ACN

Accenture

$182.26 /

-7.19 (-3.80%)

, AHEXY

Adecco

$0.00 /

+ (+0.00%)

, BASFY

BASF

$0.00 /

+ (+0.00%)

, E

Eni SpA

$24.52 /

-0.525 (-2.10%)

BusinessEurope Day 2020…

BusinessEurope Day 2020 will be held in Brussels, Belgium on March 4-5.

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Ocean Power announces Eni extends lease of PB3 PowerBuoy for 18 months » 09:10
03/03/20
03/03
09:10
03/03/20
09:10
OPTT

Ocean Power

$0.59 /

-0.0228 (-3.70%)

, E

Eni SpA

$25.04 /

-0.13 (-0.52%)

Ocean Power Technologies…

Ocean Power Technologies (OPTT) announced that Eni (E) has extended its lease of a PB3 PowerBuoy for an additional 18 months. OPT has also been contracted for an additional scope of work to provide a power and communications solution for an entirely new application in the Adriatic Sea. Following more than one year of continuous maintenance-free operation as part of an underwater autonomous vehicle charging pilot project off the coast of Italy in the Adriatic Sea, OPT will redeploy the leased PB3 PowerBuoy to provide power to systems on an unmanned, decommissioned gas production platform. The offshore platform conversion project is exploring the potential of future ecologically sustainable life-extension strategies for oil and gas platforms at the end of their productive phase. With carbon-free power provided by the PB3 PowerBuoy and an OPT-designed power delivery system and interface, the project will assess the value of the platform to the ecosystem if left in place, as well as the viability of integrated aquaculture farming, recreational, and other uses. The PB3 PowerBuoy is designed for three years of operation between routine maintenance intervals, which allows OPT to rapidly reutilize the leased asset for Eni. The PB3 PowerBuoy will be relocated off Italy's Abruzzo region coastline in July 2020 with OPT engineering support beginning immediately.

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Eni SpA upgraded to Hold from Sell at DZ Bank » 05:34
03/03/20
03/03
05:34
03/03/20
05:34
E

Eni SpA

$25.04 /

-0.13 (-0.52%)

DZ Bank analyst Werner…

DZ Bank analyst Werner Eisenmann upgraded Eni SpA to Hold from Sell with a EUR 11.50 price target.

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Conference/Events
Morgan Stanley to hold a conference » 08:07
02/27/20
02/27
08:07
02/27/20
08:07
E

Eni SpA

$25.72 /

+ (+0.00%)

, INFO

IHS Markit

$74.81 /

-0.1 (-0.13%)

, MS

Morgan Stanley

$47.23 /

-0.79 (-1.65%)

A Technology Driven…

A Technology Driven Aftermarket Conference will be held in New York on February 27.

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Eni SpA partners with Italy agency on energy initiative worth over 600M euros » 11:46
01/29/20
01/29
11:46
01/29/20
11:46
E

Eni SpA

$29.37 /

-0.08 (-0.27%)

Italy's ENEA and Eni…

Italy's ENEA and Eni will work together in a strategic alliance. The project, worth over 600 million euros, focuses on the energy of the future, sustainable, safe and unlimited, and it involves the establishment of a scientific and technological centre for fusion DTT in ENEA's Research Centre in Rome by DDT Scarl, a joint venture owned 25% by Eni, 74% by ENEA and 1% by Consorzio CREATE. The project will have an impact of around 2 billion euros on the national GDP and will create 1,500 new jobs, among which 500 for scientists and technical specialists. The agreement was signed today at the Research Centre of ENEA by the president of ENEA, Federico Testa, and the CEO of Eni, Claudio Descalzi, in the presence of the Secretary to the Prime Minister, Riccardo Fraccaro, of the Minister for Universities and Research, Gaetano Manfredi, the Minister of Economic Development, Stefano Patuanelli, and the President of Lazio Region, Nicola Zingaretti.

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