I cut it off of the 0,10 cent interim dividend and the rating cut by Citigroup (target price from 4,15 to 4 euros) weighs on the performance of Snam Rete Gas, which after a leap close to 4% in the past week, ranks at the bottom of the FTSE Mib, losing 2,83% this morning at 3,438 euros per share.
Citigroup, which confirmed its buy view on the stock, given the utility company's potential upside, also cut its year-end earnings per share estimates, from 0,29 cents to 0,22, ahead of Friday's quarterly report. also considering the one-off payment of 340 million for financial hedging transactions with Eni, which has sold 30% of Snam to Cassa depositi e prestiti and which is said to be negotiating with Abu Dhabi sovereign funds for the sale of a further 20,23% of the capital.
