TD Waterhouse Canada Inc. acquired a new position in Eni SpA (NYSE:E – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 77,732 shares of the oil and gas exploration company’s stock, valued at approximately $4,222,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of ENI by 111.2% during the 2nd quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 347 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of ENI by 8,235.3% in the 3rd quarter. CoreCap Advisors LLC now owns 1,417 shares of the oil and gas exploration company’s stock worth $77,000 after buying an additional 1,400 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in shares of ENI in the 1st quarter worth about $85,000. EWA LLC bought a new position in shares of ENI in the 1st quarter worth about $202,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of ENI in the 1st quarter worth about $203,000. Hedge funds and other institutional investors own 1.18% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on E. UBS Group reissued a “buy” rating on shares of ENI in a research report on Tuesday, October 6th. Jefferies Financial Group restated a “buy” rating on shares of ENI in a report on Sunday, September 13th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of ENI in a research note on Thursday, September 24th. Zacks Research downgraded shares of ENI from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of ENI in a report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, ENI has a consensus rating of “Moderate Buy” and a consensus target price of $58.45.
Read Our Latest Stock Report on ENI
ENI Stock Performance
Shares of E stock opened at $58.81 on Wednesday. The company has a market capitalization of $99.27 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.23. Eni SpA has a one year low of $34.50 and a one year high of $59.84. The company’s 50-day moving average is $55.39 and its 200 day moving average is $53.57.
ENI (NYSE:E – Get Free Report) last issued its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The business had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. Sell-side analysts expect that Eni SpA will post 6.50 EPS for the current fiscal year.
ENI Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Tuesday, November 24th will be issued a $0.6335 dividend. This represents a $2.53 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, November 24th. This is an increase from ENI’s previous quarterly dividend of $0.6276. ENI’s dividend payout ratio (DPR) is presently 42.97%.
ENI News Roundup
Here are the key news stories impacting ENI this week:
- Positive Sentiment: Libya gas project completed: Eni completed its approximately $1 billion Bouri gas recovery project offshore Libya. The project should help recover previously stranded gas, increase output and strengthen Eni’s position in Libya’s energy sector. Eni completes $1bn Libya gas project
- Positive Sentiment: Egypt processing expansion: Eni plans to increase gas-processing capacity in Egypt’s Western Desert through the Meleiha Phase 2 development. The company is also starting up an Egyptian gas hub, which could accelerate production and improve the monetization of regional reserves. Italy’s Eni to increase gas processing capacity in Egypt’s Western Desert
- Positive Sentiment: Mozambique LNG growth: Eni plans six new wells for the Coral North LNG project, targeting production in 2028, while evaluating a third floating LNG facility. The potential added capacity provides longer-term volume and cash-flow growth, although benefits are several years away. Eni Advances Coral North, Evaluates Third Mozambique LNG Facility
- Neutral Sentiment: Momentum has improved: A Zacks analysis notes Eni’s recent one-week gain and considers whether the stock can remain attractive to momentum investors. This may increase investor attention, but it does not represent a new earnings or valuation catalyst. Eni SpA Is Up 5.54% in One Week
ENI Company Profile
Eni S.p.A. is an integrated energy company headquartered in Rome, Italy. Founded in 1953, the company operates across the energy value chain, with activities spanning exploration and production, natural gas, liquefied natural gas, refining, chemicals, and energy-related services.
Eni explores for and produces oil and natural gas in several regions, including Europe, Africa, the Middle East, Asia, and the Americas. Through its downstream businesses, the company processes and markets fuels, develops chemical products, and supplies natural gas and electricity.
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