Eni SpA’s E subsidiary, Plenitude, is making significant strides in electric mobility with the launch of “On the Road.” This initiative is aimed at unifying all its charging solutions, both domestic and on-road, under a single identity, thereby consolidating the Be Charge integration process within the company.

Beginning Oct. 15, the Be Charge app will be rebranded as “Plenitude On the Road,” featuring a revamped design and enhanced charging experience that will evolve to include innovative services over time. Plenitude's extensive network of more than 20,000 charging points throughout Italy and Europe will be updated to reflect the new branding.

Additionally, the Be Charge website will transition to Plenitude’s corporate and commercial websites, offering customers streamlined access to information and updates regarding the company's electric mobility solutions.

This rebranding initiative is aimed at accelerating Plenitude's growth in the electric mobility sector, particularly in regions where it already offers energy solutions to households and businesses.

Paolo Martini, head of E-Mobility Recharge Solutions at Plenitude and CEO of Be Charge, expressed enthusiasm about the launch of "On the Road," describing it as a pivotal movement for supporting the development of electric mobility in a cohesive manner. He emphasized that consolidating the company’s charging solutions under a single identity should enhance the reliability and intuitiveness of their offerings, making them more recognizable and accessible to drivers.

Plenitude currently provides energy to approximately 10 million customers across Europe, with an ambitious target of reaching 11.5 million by 2027. In the renewable energy sector, the company aims to achieve more than 8 GW of installed capacity by 2027 and over 15 GW by 2030. As a leader in electric mobility, Plenitude aims to build 40,000 charging points by 2027, reinforcing its commitment to energy transition and sustainable growth.

E’s Zacks Rank & Key Picks

E currently has a Zack Rank #5 (Strong Sell).

Investors interested in the energy sector may look at some better-ranked stocks like MPLX LP MPLX, Core Laboratories Inc. CLB and VAALCO Energy, Inc. EGY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MPLX derives stable fee-based revenues from long-term contracts, with minimal exposure to commodity-price fluctuations. The partnership’s robust capital expenditure forecast for 2024, along with significant expansion initiatives, underscores its commitment to sustainable growth.

The Zacks Consensus Estimate for MPLX’s 2024 EPS is pegged at $4.29. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.

Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.

The Zacks Consensus Estimate for CLB’s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2025 in the past 30 days.

VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.

The Zacks Consensus Estimate for EGY’s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 60 days.

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