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.
Can Eni's (E) FRI-EL Biogas Acquisition be a Game Changer?
Read MoreHide Full Article
Eni S.p.A. (E - Free Report) recently agreed to acquire FRI-EL Biogas Holding to boost its carbon footprint reduction efforts. Ecofuel, a subsidiary of Eni and FRI-EL Greenpower, an electricity producer from renewables, struck the deal.
The acquiree has 21 biogas-to-electricity plants along with an OFMSW processing facility that processes organic fraction of municipal solid waste. Eni is planning to convert the plants to produce biomethane. Once the process concludes, the facilities are expected to supply more than 50 million cubic meters of biomethane per annum to the network.
Financial details of the deal, which can make Eni a major biomethane producer in Italy, are yet to be disclosed. The move is expected to boost the energy major’s growth in the circular economy, a regenerative concept that focuses on utilizing waste to create final products for consumption. The acquisition of FRI-EL Biogas Holding will be a noteworthy milestone in Eni’s strong focus on a greener future, abiding by the Paris Agreement. The integrated energy player is on track with the plan of full decarbonization of products and processes by 2050.
Notably, the company is expected to install a total of 4 gigawatts of wind and solar energy across the globe by 2024. Moreover, its power generation capacity will likely rise to 15 GW by 2030 and 60 GW by 2050. Markedly, it created a new joint venture, GreenIT, with CDP Equity, where €800 million will be invested over five years in renewables. In fact, the firm is well-positioned to capitalize on the gigantic demand for cleaner energy.
Price Performance
Eni’s shares have surged 51.1% in the past six months compared with a 50.8% rise for the industry.
Zacks Rank and Other Stocks to Consider
Currently, the stock sports a Zacks Rank #1 (Strong Buy).
DCP Midstream’s bottom line for 2021 is expected to jump 45.3% year over year.
Frank's International’s bottom line for 2021 is expected to rise 46.7% year over year.
Shell’s bottom line for 2021 is expected to increase 188.7% year over year.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Can Eni's (E) FRI-EL Biogas Acquisition be a Game Changer?
Eni S.p.A. (E - Free Report) recently agreed to acquire FRI-EL Biogas Holding to boost its carbon footprint reduction efforts. Ecofuel, a subsidiary of Eni and FRI-EL Greenpower, an electricity producer from renewables, struck the deal.
The acquiree has 21 biogas-to-electricity plants along with an OFMSW processing facility that processes organic fraction of municipal solid waste. Eni is planning to convert the plants to produce biomethane. Once the process concludes, the facilities are expected to supply more than 50 million cubic meters of biomethane per annum to the network.
Financial details of the deal, which can make Eni a major biomethane producer in Italy, are yet to be disclosed. The move is expected to boost the energy major’s growth in the circular economy, a regenerative concept that focuses on utilizing waste to create final products for consumption. The acquisition of FRI-EL Biogas Holding will be a noteworthy milestone in Eni’s strong focus on a greener future, abiding by the Paris Agreement. The integrated energy player is on track with the plan of full decarbonization of products and processes by 2050.
Notably, the company is expected to install a total of 4 gigawatts of wind and solar energy across the globe by 2024. Moreover, its power generation capacity will likely rise to 15 GW by 2030 and 60 GW by 2050. Markedly, it created a new joint venture, GreenIT, with CDP Equity, where €800 million will be invested over five years in renewables. In fact, the firm is well-positioned to capitalize on the gigantic demand for cleaner energy.
Price Performance
Eni’s shares have surged 51.1% in the past six months compared with a 50.8% rise for the industry.
Zacks Rank and Other Stocks to Consider
Currently, the stock sports a Zacks Rank #1 (Strong Buy).
Other top-ranked players in the energy space include DCP Midstream, LP , Frank's International N.V. (FI - Free Report) and Royal Dutch Shell plc , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DCP Midstream’s bottom line for 2021 is expected to jump 45.3% year over year.
Frank's International’s bottom line for 2021 is expected to rise 46.7% year over year.
Shell’s bottom line for 2021 is expected to increase 188.7% year over year.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>