Eni SpA (NYSE:E – Get Free Report)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $53.96, but opened at $55.72. ENI shares last traded at $55.6090, with a volume of 47,031 shares traded.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on E. UBS Group set a $90.00 price target on ENI in a research report on Friday, September 25th. Wall Street Zen raised ENI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Zacks Research raised ENI from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Erste Group Bank lowered shares of ENI from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Finally, Barclays reaffirmed an “overweight” rating on shares of ENI in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, ENI currently has an average rating of “Moderate Buy” and an average target price of $58.10.
View Our Latest Analysis on ENI
ENI Stock Up 3.7%
ENI (NYSE:E – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $27.93 billion. ENI had a return on equity of 11.27% and a net margin of 6.51%. On average, equities analysts predict that Eni SpA will post 6.41 earnings per share for the current year.
ENI Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Tuesday, November 24th will be given a $0.6335 dividend. This represents a $2.53 annualized dividend and a yield of 4.5%. This is a boost from ENI’s previous quarterly dividend of $0.6276. The ex-dividend date is Tuesday, November 24th. ENI’s dividend payout ratio (DPR) is presently 42.97%.
Institutional Investors Weigh In On ENI
Large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its stake in ENI by 111.2% during the second quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company’s stock worth $31,000 after purchasing an additional 347 shares during the last quarter. Manchester Capital Management LLC grew its position in ENI by 56.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,206 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 437 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in ENI during the first quarter valued at approximately $85,000. EWA LLC purchased a new position in shares of ENI during the first quarter worth approximately $202,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of ENI in the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 1.18% of the company’s stock.
About ENI
Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Established in 1953, the company operates across the energy value chain, with activities spanning oil and natural gas exploration and production, natural gas and liquefied natural gas, refining, chemicals, power generation and energy retail.
Eni explores for and produces hydrocarbons in multiple regions, including Europe, Africa, the Middle East, Asia and the Americas. Its downstream businesses include fuel refining and marketing, petrochemicals through Versalis, and natural gas and electricity sales.
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