Eni Buys Back 2.26M Shares for €33.5M in January
Ticker: EIPAF · Form: 6-K · Filed: Jan 24, 2024 · CIK: 1002242
| Field | Detail |
|---|---|
| Company | Eni Spa (EIPAF) |
| Form Type | 6-K |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Pages | 12 |
| Reading Time | 14 min |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: share-buyback, treasury-shares, capital-allocation
TL;DR
**Eni just bought back €33.5M of its own stock, signaling confidence and potentially boosting EPS.**
AI Summary
Eni S.p.A. (E) reported purchasing 2,263,910 of its own shares, representing 0.07% of its share capital, between January 15 and January 19, 2024. The company spent 33,516,010.67 euro at a weighted average price of 14.8045 euro per share as part of its treasury shares program approved on May 10, 2023. This matters to investors because share buybacks can reduce the number of outstanding shares, potentially increasing earnings per share and signaling management's confidence in the company's valuation.
Why It Matters
Share buybacks can boost shareholder value by reducing share count and signaling management's belief that the stock is undervalued, potentially leading to higher earnings per share.
Risk Assessment
Risk Level: low — This filing reports a routine share buyback program, which is generally a positive or neutral event for investors.
Analyst Insight
A smart investor would view this as a positive signal of management's confidence and potential for enhanced shareholder returns, and might consider holding or initiating a position, especially if they believe the stock is undervalued.
Key Numbers
- 2,263,910 — shares purchased (number of treasury shares acquired by Eni)
- 0.07% — percentage of share capital (portion of Eni's share capital represented by the purchased shares)
- 14.8045 euro — average price per share (weighted average price Eni paid for its shares)
- 33,516,010.67 euro — total consideration (total amount spent by Eni on the share buyback)
- January 15 to 19, 2024 — purchase period (dates during which the treasury shares were acquired)
Key Players & Entities
- Eni S.p.A. (company) — the registrant purchasing treasury shares
- Paola Mariani (person) — Head of Corporate Secretary’s Staff Office, signed the report
- 33,516,010.67 euro (dollar_amount) — total consideration for treasury shares purchased
- 14.8045 euro (dollar_amount) — weighted average price per share
- May 10, 2023 (date) — date of Shareholders' Meeting approving the treasury shares program
Forward-Looking Statements
- Eni's earnings per share (EPS) will see a slight positive impact due to the reduced share count. (Eni S.p.A.) — medium confidence, target: Q1 2024 earnings report
- Eni will continue its share buyback program in subsequent periods, consistent with the approved plan. (Eni S.p.A.) — high confidence, target: Q2 2024
FAQ
What was the specific period during which Eni S.p.A. purchased treasury shares as reported in this filing?
Eni S.p.A. purchased treasury shares during the period from January 15 to January 19, 2024, as stated in the filing.
How many shares did Eni S.p.A. acquire and what percentage of its share capital does this represent?
Eni S.p.A. acquired 2,263,910 shares, which is equal to 0.07% of its share capital, according to the report.
What was the total consideration paid by Eni S.p.A. for these treasury shares?
The total consideration paid by Eni S.p.A. for these treasury shares was 33,516,010.67 euro.
What was the weighted average price per share at which Eni S.p.A. purchased its treasury shares?
The weighted average price per share for the treasury shares purchased by Eni S.p.A. was 14.8045 euro.
When was the treasury shares program, under which these purchases were made, approved by the Shareholders' Meeting?
The treasury shares program, specifically the second tranche, was approved by the Shareholders' Meeting on May 10, 2023.
Filing Stats: 3,573 words · 14 min read · ~12 pages · Grade level 1.6 · Accepted 2024-01-24 12:01:24
Filing Documents
- form6k-31400_eni.htm (6-K) — 3050KB
- image_001.jpg (GRAPHIC) — 3KB
- image_002.jpg (GRAPHIC) — 2KB
- 0001174947-24-000113.txt ( ) — 3057KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorised. Eni S.p.A. /s/ Paola Mariani Name: Paola Mariani Title: Head of Corporate Secretary’s Staff Office Date: January 24, 2024 Eni: Report on the purchase of treasury shares during the period from 15 to 19 January 2024 San Donato Milanese (Milan), 24 January 2024 – During the period from 15 to 19 January 2024, Eni acquired on the Euronext Milan no. 2,263,910 shares (equal to 0.07% of the share capital), at a weighted average price per share equal to 14.8045 euro, for a total consideration of 33,516,010.67 euro within the second tranche of the treasury shares program approved by the Shareholders' Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Transaction details Trade date (dd/mm/yy) Transaction quantity Transaction weighted average price (euro) Transaction amount (euro) 15/01/2024 577,994 € 15.0217 € 8,682,452.47 16/01/2024 466,155 € 14.9775 € 6,981,836.51 17/01/2024 401,003 € 14.7007 € 5,895,024.80 18/01/2024 408,321 € 14.6591 € 5,985,618.37 19/01/2024 410,437 € 14.5481 € 5,971,078.52 Total 2,263,910 € 14.8045 € 33,516,010.67 From the start, on 4 September 2023, of the second tranche of the buyback programme (aimed at giving Eni shareholders additional remuneration in relation to the distribution of dividends), Eni acquired no. 78,292,495 shares (equal to 2.32% of the share capital) for a total consideration of 1,184,902,914.00 euro. Considering the treasury shares already h