ENI (NYSE:E) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded ENI from “hold” to “strong buy,” while other analysts issued mixed ratings. MarketBeat’s overall consensus remains “moderate buy,” with an average price target of $46.15.
• ENI reported quarterly EPS of $1.76, exceeding the $1.66 consensus estimate, though revenue of $25.87 billion fell short of the $27.93 billion forecast.
• Shares opened at $56.30, near their 52-week high of $58.00, with a market capitalization of approximately $95 billion. Institutional investors own 1.18% of the company.

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

Several other research firms also recently weighed in on E. Erste Group Bank downgraded shares of ENI from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of ENI from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered ENI from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.15.

ENI Price Performance

NYSE E opened at $56.30 on Wednesday. The company has a 50-day moving average price of $52.81 and a 200-day moving average price of $52.53. ENI has a 52 week low of $34.03 and a 52 week high of $58.00. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $95.03 billion, a P/E ratio of 14.40, a PEG ratio of 0.24 and a beta of 0.38.

ENI (NYSE:E - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.10. The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. Equities research analysts anticipate that ENI will post 6.03 earnings per share for the current year.

Institutional Investors Weigh In On ENI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of ENI by 1.7% during 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 buying an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ENI by 2.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,401 shares of the oil and gas exploration company's stock worth $419,000 after acquiring an additional 210 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of ENI by 2.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 11,071 shares of the oil and gas exploration company's stock worth $627,000 after acquiring an additional 213 shares during the last quarter. Gallacher Capital Management LLC boosted its holdings in ENI by 1.2% during the 1st quarter. Gallacher Capital Management LLC now owns 21,356 shares of the oil and gas exploration company's stock valued at $1,209,000 after acquiring an additional 254 shares during the period. Finally, MGO One Seven LLC boosted its holdings in ENI by 2.3% during the 4th quarter. MGO One Seven LLC now owns 11,882 shares of the oil and gas exploration company's stock valued at $451,000 after acquiring an additional 263 shares during the period. Institutional investors own 1.18% of the company's stock.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Founded in 1953, the company operates across the energy value chain, including the exploration, development and production of oil and natural gas, as well as natural gas marketing and liquefied natural gas activities.

Eni also operates refining and chemicals businesses and has expanded into lower-carbon energy and related services. Through businesses such as Plenitude and Enilive, it provides renewable power, energy retail, electric-vehicle charging, mobility services, biofuels and other products designed to support the energy transition.

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.