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Eni (E) Set to Launch Quantum Computing Venture Eniquantic
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Eni SpA (E - Free Report) has partnered with ITQuanta, a cutting-edge startup in quantum computing, to establish a joint venture named Eniquantic.
The collaboration aims to develop an integrated hardware and software quantum machine capable of solving complex problems in mathematical optimization, modeling and simulation, and artificial intelligence. The venture is poised to initiate specific and significant quantum computing applications to support the energy transition.
Eniquantic will leverage the computational power of Eni's High Performance Computing supercomputers. This will allow the venture to explore potential integrations between quantum and classical architectures, and test the effectiveness of algorithms simulating quantum computing principles on energy-related use cases directly relevant to Eni. The focus will be on improving the production efficiency of energy resources, particularly renewable energy.
The supercomputers will also use molecular dynamics and quantum mechanics techniques to discover high-performance materials for developing energy sources, such as magnetic confinement fusion. Additionally, it will enhance and optimize operational activities across the entire value chain, including trading energy and other commodities.
Eniquantic will benefit from Eni's operational and industrial excellence, combined with the expertise of ITQuanta’s founders, who are internationally recognized experts in atomic physics, information and quantum computation. This synergy is expected to bolster Eni's leadership in high-performance computing for industrial use and establish it as a highly innovative company.
The formation of Eniquantic is the second venture launched under Eniverse — Eni's corporate venture builder initiative. This move aligns with Eni's strategy to enhance in-house skills and technological solutions, whether proprietary or third-party, to create high-potential entrepreneurial initiatives.
Through Eniquantic, Eni aims to significantly contribute to the energy transition by harnessing the power of quantum computing, thereby paving the way for groundbreaking advancements in energy efficiency, material discovery and operational optimization.
Zacks Rank & Stocks to Consider
Currently, Eni carries a Zacks Rank #5 (Strong Sell).
USA Compression Partners, LP (USAC - Free Report) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.
The Zacks Consensus Estimate for USAC’s 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. USA Compression Partners has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Sunoco LP (SUN - Free Report) is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Hess Corporation (HES - Free Report) is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana. The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger is likely to result in the creation of an energy behemoth with a massive portfolio of producing assets.
The Zacks Consensus Estimate for HES’ 2024 and 2025 EPS is pegged at $10.52 and $11.67, respectively. The company has a Growth Score of B and A for Momentum. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
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Eni (E) Set to Launch Quantum Computing Venture Eniquantic
Eni SpA (E - Free Report) has partnered with ITQuanta, a cutting-edge startup in quantum computing, to establish a joint venture named Eniquantic.
The collaboration aims to develop an integrated hardware and software quantum machine capable of solving complex problems in mathematical optimization, modeling and simulation, and artificial intelligence. The venture is poised to initiate specific and significant quantum computing applications to support the energy transition.
Eniquantic will leverage the computational power of Eni's High Performance Computing supercomputers. This will allow the venture to explore potential integrations between quantum and classical architectures, and test the effectiveness of algorithms simulating quantum computing principles on energy-related use cases directly relevant to Eni. The focus will be on improving the production efficiency of energy resources, particularly renewable energy.
The supercomputers will also use molecular dynamics and quantum mechanics techniques to discover high-performance materials for developing energy sources, such as magnetic confinement fusion. Additionally, it will enhance and optimize operational activities across the entire value chain, including trading energy and other commodities.
Eniquantic will benefit from Eni's operational and industrial excellence, combined with the expertise of ITQuanta’s founders, who are internationally recognized experts in atomic physics, information and quantum computation. This synergy is expected to bolster Eni's leadership in high-performance computing for industrial use and establish it as a highly innovative company.
The formation of Eniquantic is the second venture launched under Eniverse — Eni's corporate venture builder initiative. This move aligns with Eni's strategy to enhance in-house skills and technological solutions, whether proprietary or third-party, to create high-potential entrepreneurial initiatives.
Through Eniquantic, Eni aims to significantly contribute to the energy transition by harnessing the power of quantum computing, thereby paving the way for groundbreaking advancements in energy efficiency, material discovery and operational optimization.
Zacks Rank & Stocks to Consider
Currently, Eni carries a Zacks Rank #5 (Strong Sell).
Investors interested in the energy sector may look at some better-ranked companies mentioned below. The companies presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners, LP (USAC - Free Report) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.
The Zacks Consensus Estimate for USAC’s 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. USA Compression Partners has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Sunoco LP (SUN - Free Report) is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes more than 10 fuel brands, ensuring a stable revenue stream. SUN currently has a Value Score of A.
The Zacks Consensus Estimate for 2024 and 2025 earnings per unit is pegged at $7.29 and $7.17, respectively. The partnership has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
Hess Corporation (HES - Free Report) is a leading oil and natural gas exploration and production company that made several world-class oil discoveries in the Stabroek Block, located off the coast of Guyana. The company is currently in the process of being acquired by supermajor Chevron in an all-stock deal worth $53 billion. The merger is likely to result in the creation of an energy behemoth with a massive portfolio of producing assets.
The Zacks Consensus Estimate for HES’ 2024 and 2025 EPS is pegged at $10.52 and $11.67, respectively. The company has a Growth Score of B and A for Momentum. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.