ENI (NYSE:E) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ENI from Hold to Buy. Analysts overall rate the stock “Moderate Buy,” with a consensus price target of $58.45.
• ENI beat quarterly earnings and revenue expectations, reporting EPS of $2.13 versus $1.87 forecast and revenue of $29.49 billion versus $25.89 billion expected.
• Shares opened at $57.55; the company’s 12-month trading range is $36.13–$62.16.

ENI (NYSE:E - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research analysts also recently commented on E. JPMorgan Chase & Co. reiterated a "buy" rating on shares of ENI in a report on Tuesday, September 8th. Jefferies Financial Group reissued a "buy" rating on shares of ENI in a research report on Sunday, September 13th. Berenberg Bank boosted their target price on ENI from $51.00 to $59.50 and gave the stock a "hold" rating in a research note on Thursday, August 20th. UBS Group reaffirmed a "buy" rating on shares of ENI in a report on Tuesday, October 6th. Finally, Zacks Research lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ENI has a consensus rating of "Moderate Buy" and a consensus target price of $58.45.

ENI Stock Performance

Shares of E stock opened at $57.55 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $56.53 and a 200 day moving average price of $52.63. The company has a market cap of $97.14 billion, a P/E ratio of 10.19, a PEG ratio of 0.18 and a beta of 0.41. ENI has a 12 month low of $36.13 and a 12 month high of $62.16.

ENI (NYSE:E - Get Free Report) last posted its earnings results on Saturday, October 24th. The oil and gas exploration company reported $2.13 EPS for the quarter, beating the consensus estimate of $1.87 by $0.26. The firm had revenue of $29.49 billion for the quarter, compared to analyst estimates of $25.89 billion. ENI had a return on equity of 13.84% and a net margin of 8.78%. Sell-side analysts predict that ENI will post 6.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ENI

Large investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership acquired a new stake in shares of ENI during the first quarter worth about $63,334,000. Quantinno Capital Management LP boosted its position in shares of ENI by 13.2% in the 1st quarter. Quantinno Capital Management LP now owns 453,940 shares of the oil and gas exploration company's stock valued at $25,698,000 after purchasing an additional 52,901 shares during the period. Marshall Wace LLP acquired a new stake in shares of ENI in the 3rd quarter valued at about $15,778,000. QRG Capital Management Inc. boosted its position in shares of ENI by 8.4% in the 2nd quarter. QRG Capital Management Inc. now owns 144,171 shares of the oil and gas exploration company's stock valued at $6,756,000 after purchasing an additional 11,136 shares during the period. Finally, Optiver Holding B.V. purchased a new position in ENI during the 1st quarter worth approximately $6,586,000. Institutional investors and hedge funds 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 as Ente Nazionale Idrocarburi, it has developed from a state energy enterprise into an international business spanning multiple parts of the energy value chain. The company explores for and produces oil and natural gas, and is active in natural gas supply, liquefied natural gas, refining and the marketing of energy products. Its businesses also include chemicals and power generation. Eni operates in Italy and in countries across Europe, Africa, the Middle East, the Americas and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.