Eni SpA (NYSE:E) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Eni, with six buy ratings, six holds and one strong-buy rating. The average 12-month price target is $46.15.
• Eni reported quarterly earnings of $1.76 per share, exceeding estimates of $1.66, although revenue of $25.87 billion fell short of the $27.93 billion forecast.
• The company declared a quarterly dividend of $0.6276, representing an annualized payout of approximately $2.51 and a 4.5% yield.

Shares of Eni SpA (NYSE:E - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $46.15.

A number of equities analysts have commented on E shares. Wall Street Zen upgraded shares of ENI from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research upgraded shares of ENI from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Erste Group Bank downgraded shares of ENI from a "buy" rating to a "hold" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings lowered shares of ENI from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th.

Hedge Funds Weigh In On ENI

Large investors have recently made changes to their positions in the business. IFP Advisors Inc boosted its position in shares of ENI by 111.2% in the 2nd 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 in the last quarter. DV Equities LLC acquired a new position in ENI during the 4th quarter valued at about $35,000. Manchester Capital Management LLC raised its stake in ENI by 56.8% in 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 buying an additional 437 shares during the last quarter. Advisory Services Network LLC purchased a new stake in ENI in the third quarter valued at about $47,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in ENI in the third quarter worth about $48,000. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Trading Up 0.4%

Shares of NYSE:E opened at $56.30 on Friday. The company has a market capitalization of $95.03 billion, a PE ratio of 14.40, a P/E/G ratio of 0.24 and a beta of 0.38. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. ENI has a 12-month low of $34.03 and a 12-month high of $58.00. The business's fifty day simple moving average is $52.81 and its 200-day simple moving average is $52.53.

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

ENI Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 22nd will be issued a $0.6276 dividend. This represents a $2.51 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 22nd. ENI's payout ratio is currently 44.25%.

About ENI

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.

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