ENI (NYSE:E) Sets New 1-Year High - Should You Buy?

Key Points

• ENI SpA shares reached a new 52-week high of $34.95, with a last traded price of $34.78 and a trading volume of 29,181 shares.
• Analysts have issued mostly hold ratings on ENI, with a consensus target price of $31.60, following recent downgrades from several key investment firms.
• The company reported earnings per share of $0.79 for the latest quarter, surpassing analysts' expectations by $0.12, though revenue fell short of projections at $22.08 billion.

Shares of Eni SpA (NYSE:E - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $34.95 and last traded at $34.78, with a volume of 29181 shares changing hands. The stock had previously closed at $34.25.

Analyst Ratings Changes

E has been the topic of several recent research reports. Redburn Atlantic downgraded ENI from a "buy" rating to a "neutral" rating in a report on Wednesday, April 23rd. Kepler Capital Markets downgraded ENI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Citigroup reissued a "neutral" rating on shares of ENI in a report on Friday, July 11th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, ENI currently has an average rating of "Hold" and a consensus price target of $31.60.

ENI Price Performance

The firm has a market cap of $58.31 billion, a price-to-earnings ratio of 21.32 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.18. The business has a 50 day simple moving average of $32.77 and a 200-day simple moving average of $30.31.

ENI (NYSE:E - Get Free Report) last announced its 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. ENI had a return on equity of 8.53% and a net margin of 2.84%. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $23.54 billion. Equities research analysts expect that Eni SpA will post 3.74 earnings per share for the current year.

Institutional Investors Weigh In On ENI

Hedge funds have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of ENI by 13.1% in the 4th quarter. Invesco Ltd. now owns 33,464 shares of the oil and gas exploration company's stock worth $916,000 after purchasing an additional 3,877 shares during the period. GAMMA Investing LLC raised its holdings in ENI by 76.8% during the 1st quarter. GAMMA Investing LLC now owns 3,376 shares of the oil and gas exploration company's stock valued at $104,000 after acquiring an additional 1,467 shares during the period. Millennium Management LLC raised its holdings in ENI by 215.8% during the 4th quarter. Millennium Management LLC now owns 327,201 shares of the oil and gas exploration company's stock valued at $8,952,000 after acquiring an additional 223,597 shares during the period. Optiver Holding B.V. raised its holdings in ENI by 1,885.2% during the 4th quarter. Optiver Holding B.V. now owns 273,042 shares of the oil and gas exploration company's stock valued at $7,470,000 after acquiring an additional 259,288 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in ENI by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,936 shares of the oil and gas exploration company's stock valued at $307,000 after acquiring an additional 937 shares during the period. Institutional investors own 1.18% of the company's stock.

ENI Company Profile

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.