ENI (NYSE:E) Downgraded by Royal Bank Of Canada to Sector Perform

Key Points

• ENI was downgraded by Royal Bank of Canada from an "outperform" rating to a "sector perform" rating, reflecting concerns about the company's stock performance.
• The stock is currently rated as "Hold" by analysts, with a consensus target price of $31.60 and a recent trading price of $35.83.
• Institutional investors, including hedge funds, have recently increased their stakes in ENI, indicating ongoing interest despite the downgrade.

ENI (NYSE:E - Get Free Report) was downgraded by analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on E. Citigroup reiterated a "neutral" rating on shares of ENI in a research report on Friday, July 11th. Kepler Capital Markets cut ENI from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Zacks Research cut ENI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $34.60.

ENI Stock Performance

NYSE:E traded down $0.50 during trading hours on Tuesday, reaching $34.37. 314,445 shares of the stock were exchanged, compared to its average volume of 233,242. The company has a quick ratio of 1.02, a current ratio of 1.18 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $34.19 and a 200-day simple moving average of $31.22. The stock has a market capitalization of $58.01 billion, a P/E ratio of 21.22 and a beta of 0.96. ENI has a 52 week low of $24.65 and a 52 week high of $35.94.

ENI (NYSE:E - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.12. The business had revenue of $22.08 billion for the quarter, compared to analysts' expectations of $23.54 billion. ENI had a return on equity of 8.53% and a net margin of 2.84%. As a group, sell-side analysts forecast that ENI will post 3.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. raised its position in ENI by 120.6% during the second quarter. Osaic Holdings Inc. now owns 13,829 shares of the oil and gas exploration company's stock valued at $448,000 after purchasing an additional 7,561 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in ENI by 14.2% during the second quarter. Orion Porfolio Solutions LLC now owns 81,352 shares of the oil and gas exploration company's stock valued at $2,637,000 after purchasing an additional 10,114 shares in the last quarter. Evergreen Capital Management LLC raised its position in ENI by 24.3% during the second quarter. Evergreen Capital Management LLC now owns 19,824 shares of the oil and gas exploration company's stock valued at $643,000 after purchasing an additional 3,874 shares in the last quarter. Corient Private Wealth LLC raised its position in ENI by 8.5% during the second quarter. Corient Private Wealth LLC now owns 53,213 shares of the oil and gas exploration company's stock valued at $1,725,000 after purchasing an additional 4,169 shares in the last quarter. Finally, Vident Advisory LLC raised its position in ENI by 4.7% during the second quarter. Vident Advisory LLC now owns 36,881 shares of the oil and gas exploration company's stock valued at $1,196,000 after purchasing an additional 1,651 shares in the last quarter. 1.18% of the stock is currently owned by institutional investors and hedge funds.

About ENI

Eni SpA engages in the exploration, production, refining, and sale of oil, gas, electricity, and chemicals. It operates through the following segments: Exploration and Production, Global Gas and LNG Portfolio, Refining & Marketing and Chemicals, Power & Renewables, and Corporate and Other Activities.