Back to top

Image: Shutterstock

Eni SpA (E) Stock Jumps 3% After It Joins Forces With Nexi

Read MoreHide Full Article

Eni SpA (E - Free Report) , an integrated energy company, announced its partnership with Nexi, the leading European PayTech, for the establishment of innovative electronic and digital payment services. Following the announcement on Feb 6, 2023, the stock jumped almost 3%.

Eni’s primary partner, Nexi, will help accomplish the dual goal of ensuring the finest evolution of existing payment services, as well as designing and implementing new solutions to keep up the energy company’s business, with increased focus on Sustainable Mobility and Plentitude.

This alliance will generate synergies and prove to be advantageous for both the companies. Eni will improve customer experience for its clients and benefit by taking advantage of future opportunities arising from the evolution of payment systems and relevant regulation at the European level. Nexi, on the other hand, with its portfolio of innovative products, will benefit from the opportunity to work with Eni for developing new solutions by simplifying payments and enabling people and businesses to build closer relationships and grow together.

Zacks Rank & Key Picks

Eni currently carries a Zack Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Meanwhile investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy). 

Halliburton Company (HAL - Free Report) reported fourth-quarter 2022 adjusted net income of 72 cents per share, surpassing the Zacks Consensus Estimate of 67 cents. The outperformance reflects stronger-than-expected profit from both its divisions.

HAL is expected to see earnings growth of 43.26% in 2023. In further good news for investors, Halliburton raised its quarterly dividend by 33.3% to 16 cents per share.

Valero Energy Corporation (VLO - Free Report) reported fourth-quarter 2022 adjusted earnings of $8.45 per share, which beat the Zacks Consensus Estimate of $7.45 per share. The strong quarterly results were driven by increased refinery throughput volumes and a higher refining margin.Valero can benefit from the Gulf Coast export volumes as fuel demand recovery gets support from Asian economies.

Liberty Energy Inc. (LBRT - Free Report) announced fourth-quarter 2022 earnings per share of 82 cents, which beat the Zacks Consensus Estimate of 71 cents. The outperformance reflects the impact of strong execution and increased service pricing. LBRT is expected to see an earnings surge of 62.1% in 2023.

Published in