ENI (NYSE:E) Reaches New 52-Week High - Still a 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.

Eni SpA (NYSE:E - Get Free Report) shares 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 Upgrades and Downgrades

Several brokerages have recently weighed in on E. Citigroup restated a "neutral" rating on shares of ENI in a research report on Friday, July 11th. Kepler Capital Markets lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Redburn Atlantic downgraded shares of ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 23rd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.60.

ENI Price Performance

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 market capitalization of $58.48 billion, a price-to-earnings ratio of 21.38 and a beta of 0.95. The company has a fifty day moving average price of $32.67 and a two-hundred day moving average price of $30.25.

ENI (NYSE:E - Get Free Report) last issued 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. ENI had a net margin of 2.84% and a return on equity of 8.53%. The firm had revenue of $22.08 billion during the quarter, compared to analysts' expectations of $23.54 billion. On average, equities research analysts expect that Eni SpA will post 3.74 EPS for the current fiscal year.

Hedge Funds Weigh In On ENI

Institutional investors have recently added to or reduced their stakes in the stock. ABC Arbitrage SA raised its position in ENI by 78.8% during the 2nd quarter. ABC Arbitrage SA now owns 32,110 shares of the oil and gas exploration company's stock worth $1,041,000 after buying an additional 14,151 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of ENI by 13.7% during the second quarter. PNC Financial Services Group Inc. now owns 33,047 shares of the oil and gas exploration company's stock worth $1,071,000 after acquiring an additional 3,978 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ENI during the second quarter worth about $3,982,000. Vestmark Advisory Solutions Inc. acquired a new stake in ENI in the second quarter valued at about $802,000. Finally, Savant Capital LLC purchased a new stake in ENI in the 2nd quarter valued at approximately $608,000. Institutional investors and hedge funds 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.