ENI (NYSE:E) Sets New 12-Month Low - Here's Why

Eni S.p.A. (NYSE:E - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $28.34 and last traded at $28.37, with a volume of 407820 shares traded. The stock had previously closed at $28.79.

Analysts Set New Price Targets

E has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an "equal weight" rating and issued a $31.60 price target (down previously from $37.50) on shares of ENI in a research note on Tuesday, January 7th. StockNews.com downgraded shares of ENI from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Redburn Atlantic cut shares of ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 23rd. UBS Group downgraded shares of ENI from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Finally, Citigroup reaffirmed a "neutral" rating on shares of ENI in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $31.60.

ENI Price Performance

The business's 50-day simple moving average is $28.91 and its two-hundred day simple moving average is $28.76. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.86 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.07.

ENI (NYSE:E - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas exploration company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. ENI had a return on equity of 11.03% and a net margin of 2.76%. The company had revenue of $25.61 billion for the quarter, compared to the consensus estimate of $25.52 billion. Research analysts expect that Eni S.p.A. will post 3.74 earnings per share for the current year.

ENI Increases Dividend

The company also recently declared a -- dividend, which will be paid on Monday, June 9th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.5391 per share. This is a boost from ENI's previous -- dividend of $0.35. This represents a dividend yield of 5.5%. The ex-dividend date is Tuesday, May 20th. ENI's payout ratio is 89.82%.

Hedge Funds Weigh In On ENI

Hedge funds have recently modified their holdings of the business. Choreo LLC bought a new position in ENI during the 1st quarter worth $203,000. Gallacher Capital Management LLC increased its stake in shares of ENI by 5.0% in the first quarter. Gallacher Capital Management LLC now owns 17,414 shares of the oil and gas exploration company's stock valued at $539,000 after buying an additional 829 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of ENI by 44.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 405,655 shares of the oil and gas exploration company's stock worth $12,547,000 after acquiring an additional 125,413 shares during the last quarter. Signaturefd LLC lifted its stake in shares of ENI by 6.8% in the first quarter. Signaturefd LLC now owns 27,982 shares of the oil and gas exploration company's stock worth $865,000 after acquiring an additional 1,793 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in ENI by 17.5% in the first quarter. Bleakley Financial Group LLC now owns 20,051 shares of the oil and gas exploration company's stock valued at $620,000 after acquiring an additional 2,987 shares during the last quarter. Institutional investors and hedge funds own 1.18% of the company's stock.

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.