ENI (NYSE:E) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded ENI from “strong buy” to “hold,” while the broader analyst consensus remains “moderate buy” with a $58.45 price target.
• ENI shares rose 0.4% to $57.70, near their 52-week high of $58.00, and remain above both their 50-day and 200-day moving averages.
• The company exceeded quarterly EPS estimates, reporting $1.76 versus the $1.66 consensus, although revenue of $25.87 billion fell short of the $27.93 billion estimate.

ENI (NYSE:E - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

E has been the subject of a number of other research reports. HSBC reaffirmed a "hold" rating on shares of ENI in a report on Friday, September 25th. BNP Paribas Exane downgraded shares of ENI from an "outperform" rating to a "neutral" rating and set a $56.30 price target on the stock. in a report on Wednesday, October 7th. Erste Group Bank lowered shares of ENI from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. restated a "buy" rating on shares of ENI in a research report on Tuesday, September 8th. Finally, Royal Bank Of Canada reaffirmed a "neutral" rating on shares of ENI in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.45.

ENI Stock Up 0.4%

Shares of NYSE E opened at $57.70 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.05. The stock has a market capitalization of $97.40 billion, a PE ratio of 14.76, a P/E/G ratio of 0.22 and a beta of 0.44. ENI has a one year low of $34.15 and a one year high of $58.00. The business's fifty day moving average price is $55.08 and its 200-day moving average price is $53.49.

ENI (NYSE:E - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. ENI had a net margin of 6.51% and a return on equity of 11.27%. The company had revenue of $25.87 billion for the quarter, compared to analyst estimates of $27.93 billion. On average, equities research analysts anticipate that ENI will post 6.52 EPS for the current year.

Hedge Funds Weigh In On ENI

Institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. increased its stake in ENI by 1.7% in the first quarter. Sei Investments Co. now owns 12,011 shares of the oil and gas exploration company's stock valued at $680,000 after acquiring an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in ENI by 2.9% during the first quarter. EverSource Wealth Advisors LLC now owns 7,401 shares of the oil and gas exploration company's stock valued at $419,000 after purchasing an additional 210 shares in the last quarter. Checchi Capital Advisers LLC raised its position in ENI by 2.0% during the first quarter. Checchi Capital Advisers LLC now owns 11,071 shares of the oil and gas exploration company's stock valued at $627,000 after purchasing an additional 213 shares in the last quarter. Gallacher Capital Management LLC lifted its stake in ENI by 1.2% during the first quarter. Gallacher Capital Management LLC now owns 21,356 shares of the oil and gas exploration company's stock worth $1,209,000 after purchasing an additional 254 shares during the last quarter. Finally, 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. 1.18% of the stock is currently owned by institutional investors.

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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