We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Eni (E) Commences Production at Tunisia Solar Power Facility
Read MoreHide Full Article
Eni SpA (E - Free Report) announced that it commenced production at its solar photovoltaic facility in Tataouine, Tunisia, after connecting to the national grid.
The solar photovoltaic facility has an installed capacity of 10 megawatts (MW). It is expected to supply more than 20 gigawatt hours (“GWh”) of power to Tunisia’s national electricity grid per year. Additionally, the facility will eliminate 211,000 tons of carbon dioxide equivalent throughout its lifetime.
The solar power facility was manufactured by Societe Energie Renouvelables Eni Etap, a joint venture between Eni and Entreprise Tunisienne d’Activites Petrolieres. Eni will supply the facility’s generated electricity to STEG (Société Tunisienne de l'Electricité et du Gaz) through a power purchase agreement for 20 years.
This is Eni’s second solar photovoltaic facility in Tunisia. The company also handles the Adam photovoltaic field in the country, with a peak capacity of 5 MW. Eni’s Tataouine facility supplies electricity to the nearby Adam field in the Governorate of Tataouine. The plant is a hybrid generation system, one of the most innovative and efficient systems available today.
Eni has been contributing to Tunisia’s growth since 1961. The company focuses on its upstream operations in the country’s southern desert regions and offshore in the Mediterranean Sea. Eni’s Global Gas & LNG portfolio is for managing the Transmed gas pipeline, which connects Algeria to Italy through Tunisia.
The initiative contributes to Eni’s strategy to decarbonize the Tunisia energy system. The investment aligns well with the company’s aim to reach zero scope 1, 2 and 3 emissions by 2050, in line with its medium to long-term strategy.
Price Performance
Shares of Eni have outperformed the industry in the past three months. The stock has gained 28.8% compared with the industry’s 10.5% growth.
Murphy USA Inc. (MUSA - Free Report) is a leading independent retailer of motor fuel and convenience merchandise in the United States. MUSA’s third-quarter 2022 earnings per share of $9.28 beat the Zacks Consensus Estimate of $7.82.
Murphy USA is expected to see an earnings surge of 80.9% in 2022. In more good news for investors, MUSA’s board of directors recently declared a quarterly cash dividend of 35 cents per share to its common shareholders of record as of Nov 8. The payout, which marks a 9% sequential increase, will be made on Dec 1.
Liberty Energy Inc. (LBRT - Free Report) offers hydraulic fracturing services to onshore upstream energy companies across multiple basins in North America. LBRT’s third-quarter 2022 earnings per share of 78 cents beat the Zacks Consensus Estimate of 63 cents.
Liberty is expected to see an earnings surge of 298% in 2022. As of Sep 30, 2022, Liberty had $298 million of available liquidity, including $24 million cash on hand and supported by the revolving credit facility. LBRT’s debt-to-capitalization stands at just 15.2% compared with most peers hugely burdened with debts.
Oceaneering International, Inc. (OII - Free Report) is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. OII’s third-quarter 2022 adjusted profit of 23 cents per share beat the Zacks Consensus Estimate of 13 cents.
OII is expected to see an earnings rise of 82.4% in 2022. For 2022, Oceaneering projects its consolidated EBITDA at $215-$240 million and continued significant free cash flow generation at $25-$75 million.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Eni (E) Commences Production at Tunisia Solar Power Facility
Eni SpA (E - Free Report) announced that it commenced production at its solar photovoltaic facility in Tataouine, Tunisia, after connecting to the national grid.
The solar photovoltaic facility has an installed capacity of 10 megawatts (MW). It is expected to supply more than 20 gigawatt hours (“GWh”) of power to Tunisia’s national electricity grid per year. Additionally, the facility will eliminate 211,000 tons of carbon dioxide equivalent throughout its lifetime.
The solar power facility was manufactured by Societe Energie Renouvelables Eni Etap, a joint venture between Eni and Entreprise Tunisienne d’Activites Petrolieres. Eni will supply the facility’s generated electricity to STEG (Société Tunisienne de l'Electricité et du Gaz) through a power purchase agreement for 20 years.
This is Eni’s second solar photovoltaic facility in Tunisia. The company also handles the Adam photovoltaic field in the country, with a peak capacity of 5 MW. Eni’s Tataouine facility supplies electricity to the nearby Adam field in the Governorate of Tataouine. The plant is a hybrid generation system, one of the most innovative and efficient systems available today.
Eni has been contributing to Tunisia’s growth since 1961. The company focuses on its upstream operations in the country’s southern desert regions and offshore in the Mediterranean Sea. Eni’s Global Gas & LNG portfolio is for managing the Transmed gas pipeline, which connects Algeria to Italy through Tunisia.
The initiative contributes to Eni’s strategy to decarbonize the Tunisia energy system. The investment aligns well with the company’s aim to reach zero scope 1, 2 and 3 emissions by 2050, in line with its medium to long-term strategy.
Price Performance
Shares of Eni have outperformed the industry in the past three months. The stock has gained 28.8% compared with the industry’s 10.5% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Eni currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank # (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Murphy USA Inc. (MUSA - Free Report) is a leading independent retailer of motor fuel and convenience merchandise in the United States. MUSA’s third-quarter 2022 earnings per share of $9.28 beat the Zacks Consensus Estimate of $7.82.
Murphy USA is expected to see an earnings surge of 80.9% in 2022. In more good news for investors, MUSA’s board of directors recently declared a quarterly cash dividend of 35 cents per share to its common shareholders of record as of Nov 8. The payout, which marks a 9% sequential increase, will be made on Dec 1.
Liberty Energy Inc. (LBRT - Free Report) offers hydraulic fracturing services to onshore upstream energy companies across multiple basins in North America. LBRT’s third-quarter 2022 earnings per share of 78 cents beat the Zacks Consensus Estimate of 63 cents.
Liberty is expected to see an earnings surge of 298% in 2022. As of Sep 30, 2022, Liberty had $298 million of available liquidity, including $24 million cash on hand and supported by the revolving credit facility. LBRT’s debt-to-capitalization stands at just 15.2% compared with most peers hugely burdened with debts.
Oceaneering International, Inc. (OII - Free Report) is one of the leading suppliers of offshore equipment and technology solutions to the energy industry. OII’s third-quarter 2022 adjusted profit of 23 cents per share beat the Zacks Consensus Estimate of 13 cents.
OII is expected to see an earnings rise of 82.4% in 2022. For 2022, Oceaneering projects its consolidated EBITDA at $215-$240 million and continued significant free cash flow generation at $25-$75 million.