0909 GMT - Eni could return more cash to shareholders than expected, Jefferies analysts Giacomo Romeo and Kai Ye Loh write after hosting a U.S. roadshow with the Italian oil major's management team. Eni plans to keep the 1.5 billion-euro share buyback pledge even if Brent oil is priced in the $60's but are planning for oil at $75 a barrel, the analysts write. On this assumption, there is upside potential to its current guidance on shareholder returns due to better-than-expected operating cash flow delivery and higher-than-expected divestment proceeds, the analysts write. Its financial progress might allow a raise in the payout to shareholders within its range of 35% to 40% cash flow from operations, they write. Shares rise 1.3% to 13.89 euros.(adam.whittaker@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 05:22 ET (09:22 GMT)
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