Eni Buys Back 2.07M Shares for €30M in Latest Program Tranche
Ticker: EIPAF · Form: 6-K · Filed: Jan 31, 2024 · CIK: 1002242
| Field | Detail |
|---|---|
| Company | Eni Spa (EIPAF) |
| Form Type | 6-K |
| Filed Date | Jan 31, 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 2.07 million shares for €30 million, signaling confidence and potentially boosting EPS.**
AI Summary
Eni S.p.A. announced on January 31, 2024, that it repurchased 2,076,584 of its own shares, representing 0.06% of its share capital, between January 22 and January 26, 2024. The company spent 30,073,932.68 euro at a weighted average price of 14.4824 euro per share. This buyback is part of the second tranche of a program approved by shareholders on May 10, 2023, and it matters to investors because share repurchases can reduce the number of outstanding shares, potentially increasing earnings per share and supporting the stock price.
Why It Matters
Share buybacks can signal management's confidence in the company's valuation and can boost shareholder value by reducing share count and potentially increasing EPS.
Risk Assessment
Risk Level: low — This filing reports a routine share buyback, which is generally a positive or neutral event for shareholders.
Analyst Insight
A smart investor would view this as a positive signal of management's confidence and a potential driver for increased shareholder value, warranting continued monitoring of the company's buyback program and financial performance.
Key Numbers
- 2,076,584 — Shares Repurchased (The total number of shares Eni S.p.A. bought back between January 22 and 26, 2024.)
- 0.06% — Percentage of Share Capital (The portion of Eni S.p.A.'s share capital represented by the repurchased shares.)
- 30,073,932.68 euro — Total Consideration (The total amount Eni S.p.A. spent on the share buyback.)
- 14.4824 euro — Weighted Average Price (The average price per share Eni S.p.A. paid for the repurchased shares.)
- January 26, 2024 — End of Reporting Period (The last date of the period covered by this specific share repurchase report.)
Key Players & Entities
- Eni S.p.A. (company) — the registrant reporting the share repurchase
- Paola Mariani (person) — Head of Corporate Secretary’s Staff Office for Eni S.p.A.
- 30,073,932.68 euro (dollar_amount) — total consideration for the treasury shares purchased
- 2,076,584 shares (dollar_amount) — number of shares repurchased by Eni S.p.A.
- 0.06% (dollar_amount) — percentage of share capital represented by the repurchased shares
- 14.4824 euro (dollar_amount) — weighted average price per share for the buyback
- January 22 to 26, 2024 (date) — period during which the share purchases occurred
- May 10, 2023 (date) — date of the Shareholders' Meeting that approved the treasury shares program
Forward-Looking Statements
- Eni's continued share buybacks will likely support its stock price and potentially increase earnings per share. (Eni S.p.A.) — medium confidence, target: Q1 2024 earnings report
FAQ
What was the total number of shares Eni S.p.A. repurchased during the specified period?
Eni S.p.A. repurchased 2,076,584 shares during the period from January 22 to January 26, 2024.
What was the total cost of these share repurchases?
The total consideration for the repurchased shares was 30,073,932.68 euro.
What percentage of Eni S.p.A.'s share capital do these repurchased shares represent?
The 2,076,584 shares acquired are equal to 0.06% of Eni S.p.A.'s share capital.
What was the weighted average price per share for these transactions?
The weighted average price per share for the repurchases was 14.4824 euro.
When was the treasury shares program, under which these purchases were made, approved by shareholders?
The treasury shares program, of which this is the second tranche, was approved by the Shareholders' Meeting on May 10, 2023.
Filing Stats: 3,570 words · 14 min read · ~12 pages · Grade level 1.6 · Accepted 2024-01-31 12:12:55
Filing Documents
- form6k-31429_eni.htm (6-K) — 2939KB
- image_001.jpg (GRAPHIC) — 3KB
- image_002.jpg (GRAPHIC) — 2KB
- 0001174947-24-000140.txt ( ) — 2946KB
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 31, 2024 Eni: Report on the purchase of treasury shares during the period from 22 to 26 January 2024 San Donato Milanese (Milan), 31 January 2024 – During the period from 22 to 26 January 2024, Eni acquired on the Euronext Milan no. 2,076,584 shares (equal to 0.06% of the share capital), at a weighted average price per share equal to 14.4824 euro, for a total consideration of 30,073,932.68 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) 22/01/2024 412,897 € 14.3530 € 5,926,310.64 23/01/2024 418,356 € 14.3372 € 5,998,053.64 24/01/2024 418,070 € 14.4167 € 6,027,189.77 25/01/2024 415,699 € 14.5805 € 6,061,099.27 26/01/2024 411,562 € 14.7275 € 6,061,279.36 Total 2,076,584 € 14.4824 € 30,073,932.68 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. 80,369,079 shares (equal to 2.38% of the share capital) for a total consideration of 1,214,976,846.68 euro. Considering the treasury shares already h