ENI (NYSE:E) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ENI from “hold” to “buy,” while the stock’s overall analyst consensus remains “Moderate Buy” with an average price target of $42.30.
• ENI shares opened at $53.55 and were down 1.3%; the company has a $90.39 billion market capitalization and trades at a price-to-earnings ratio of 13.69.
• ENI exceeded quarterly earnings expectations, reporting $1.76 EPS versus the $1.66 consensus estimate, although revenue of $25.87 billion fell short of the $27.93 billion forecast.

ENI (NYSE:E - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

E has been the subject of a number of other reports. Dbs Bank raised shares of ENI from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, April 28th. Zacks Research cut ENI from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. BNP Paribas Exane raised ENI from a "neutral" rating to an "outperform" rating and set a $64.30 target price for the company in a research report on Friday, April 17th. Erste Group Bank lowered ENI from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings upgraded ENI from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $42.30.

ENI Trading Down 1.3%

Shares of E stock opened at $53.55 on Friday. The stock has a market cap of $90.39 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.25 and a beta of 0.39. The company has a quick ratio of 1.02, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. ENI has a fifty-two week low of $34.03 and a fifty-two week high of $58.00. The firm's 50 day moving average price is $50.66 and its two-hundred day moving average price is $50.20.

ENI (NYSE:E - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. ENI had a net margin of 6.51% and a return on equity of 11.27%. The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $27.93 billion. On average, analysts anticipate that ENI will post 5.63 EPS for the current year.

Institutional Trading of ENI

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in ENI by 8.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 589,265 shares of the oil and gas exploration company's stock worth $22,357,000 after acquiring an additional 44,588 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of ENI in the 1st quarter valued at about $6,586,000. Quantinno Capital Management LP lifted its position in shares of ENI by 13.2% during the first quarter. Quantinno Capital Management LP now owns 453,940 shares of the oil and gas exploration company's stock worth $25,698,000 after purchasing an additional 52,901 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of ENI during the first quarter worth about $63,334,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in ENI in the fourth quarter worth about $375,000. 1.18% of the stock is owned by hedge funds and other institutional investors.

About ENI

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm's activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.

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