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Higher natural gas prices are expected to boost European energy sector earnings in the first quarter, with analysts projecting a nearly 30% increase in net income quarter-on-quarter. This uptick is attributed to strong gas prices and increased trading contributions amid market volatility. Upstream unit earnings are also forecasted to rise by 12%, marking the first sequential increase in five quarters, as companies focus on shareholder returns while managing capital expenditures.
Barclays analyst Lydia Rainforth has maintained a Buy rating on BP p.l.c. with a price target of £6.50, following a share close at £435.50. The company holds a Moderate Buy consensus among analysts, with a target average of £502.50, and has seen a one-year high of £541.00 and a low of £365.20. Rainforth boasts a 60.14% success rate and an average return of 6.1%.
Shell may increase its dividend by 10%-20% by 2026 while maintaining its $14 billion share buyback program through 2025, according to Barclays analysts. The company has been retiring about 7% of its shares annually, allowing for a higher per-share payout without increasing total dividends.Additionally, Shell is expected to boost upstream output to 3 million barrels of oil equivalent per day by 2029, up from an estimated 2.8 million boe/d in 2024, all while adhering to a $25 billion annual capital spending budget.
Lydia Rainforth
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European energy sector earnings expected to rise amid higher natural gas prices
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