Eni: Q3 Expectations

Oct. 24, 2022 12:52 PM ETEni S.p.A. (E) StockE4 Comments
Mare Evidence Lab
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Summary

  • Plenitude (Eni's renewable arm) is accelerating inorganic growth and is looking at the PLT Energia dossier.
  • Eni also announced the acquisition of BP's gas activities in Algeria.
  • We think it's too discounted versus peers, especially given positive ongoing buybacks and E&P upside.

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Before going deeper into the Q3 expectations, it is important to report the latest company development. Plenitude, Eni's (NYSE:E) subsidiary active in renewable energy generation, which is planning for IPO in 2023, is also aiming for inorganic growth.

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