Latest news with #EONSE
Business Insider
4 days ago
- Business
- Business Insider
Barclays Reaffirms Their Hold Rating on EON SE (EONGY)
Barclays analyst Peter Crampton maintained a Hold rating on EON SE (EONGY – Research Report) on June 4. The company's shares closed yesterday at $17.64. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Crampton covers the Utilities sector, focusing on stocks such as Veolia Environnement, EON SE, and Engie SA. According to TipRanks, Crampton has an average return of 11.9% and a 69.35% success rate on recommended stocks. EON SE has an analyst consensus of Moderate Buy, with a price target consensus of $18.04.
Bloomberg
25-03-2025
- Business
- Bloomberg
EON Joins With Denmark's ARC to Bid for Carbon Capture Project
German utility company EON SE and Danish waste-to-energy plant ARC have entered into a partnership as part of an effort to secure project financing under Denmark's $4.2 billion plan to develop carbon capture facilities. Denmark wants to begin storing carbon as early as 2029 as part of its national plan to cut emissions. The country last summer awarded its first permits allowing companies to investigate the feasibility of carbon storage in underground sites.
Yahoo
28-02-2025
- Business
- Yahoo
EON Boosts Spending by 15% as AI Data Hubs Seek Grid Linkups
(Bloomberg) -- EON SE will ramp up investments by 15% this year as the German utility seeks to profit from the energy transition and demand for connections from AI data centers. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month New York's Congestion Pricing Plan Faces Another Legal Showdown The firm, one of the region's largest distribution grid operators, plays a key role in helping nations to achieve its climate and renweable power goals. Europe aims to be climate neutral by the middle of the century, an endeavor which requires a massive expansion of power grids so that millions of clean energy plants and new devices can be connected. Total investments will increase by about €1.1 billion ($1.2 billion) this year to about €8.6 billion, the firm said Wednesday in its earnings report. Most of that will be in networks with the purpose of accelerating the transformation of Europe's energy system, the firm said. EON said it sees additional connection requests from the AI driven boom in data centers in the 'gigawatt range,' as well as requests by large-scale storage systems with an aggregate capacity of 100 gigawatts. 'We have a number of fundamentals driving the need for more infrastructure — the continued expansion of renewables, batteries, battery factories and then data centers just come on top,' Leonhard Birnbaum said in an interview on Bloomberg Television. 'We're talking about a tripling (of investments) over the past five years.' However Birnbaum only expects that '10% to 15%, maximum 20%' of the batteries will actually be built, he told reporters. He is in favor of a reservation fee that would be paid back if the facility is built. The company also slightly increased its 2024 to 2028 investment program from €42 billion to €43 billion. The majority of this investment is in network infrastructure. The plan will be updated early next year at the latest, Chief Financial Officer Nadia Jakobi told analysts on a call. Additions could be as much as €10 billion, according to a presentation. EON shares rose the most in almost a year before paring gains. They traded up 3.4% at 12:50 p.m. in Frankfurt. They have gained 8% so far in 2025, although that's still below the gain in the nation's main DAX index. Read: What's at Stake for Energy as Germany Builds a Government: BNEF Friedrich Merz's conservative CDU/CSU alliance won 29% of the votes in the recent election. He can take control if he is able to form a coalition with Chancellor Olaf Scholz's Social Democrats. Merz has vowed to form a government within the next two months. He pledged in his election campaign to cut taxes, invest in grids and using all available technologies to ensure sufficient energy supplies. Read: Merz Faces Tough Task to Cut German Power Bills: Energy Daily Adjusted earnings before interest, taxes, depreciation and amortization fell about 3% to €9 billion in 2024. EON expects this year's profit to be in a range of €9.6 billion to €9.8 billion. --With assistance from Lars Paulsson, Kriti Gupta and Tom Mackenzie. (Updates with CFO comment in quotes in seventh paragraph.) Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P. Sign in to access your portfolio
Bloomberg
14-02-2025
- Business
- Bloomberg
European Energy Security Increasingly Threatened, EON CEO Says
The security of Europe's energy supply is more challenging than ever, EON SE Chief Executive Officer Leonhard Birnbaum said, pointing to attacks on Ukrainian infrastructure and cyber threats as examples. 'Energy, and power in particular, is being used as a weapon against us,' the German utility's Birnbaum said on a webinar on Friday as part of the Munich Security Conference. He mentioned the commercial weaponization of gas — with Russian flows to Europe being choked off — being followed by Moscow's attacks on Ukrainian energy facilities.
