ENI (NYSE:E) Reaches New 52-Week High - Here's What Happened

Key Points

• ENI SpA's stock reached a new 52-week high of $35.98 during trading, reflecting an increase from the previous close of $35.60.
• The company reported earnings per share of $0.79 for the last quarter, surpassing the consensus estimate of $0.67, although revenue fell short of expectations at $22.08 billion.
• ENI declared a quarterly dividend of $0.5814 per share, with a yield of 6.5%, set to be paid on December 5th to shareholders of record.

Shares of Eni SpA (NYSE:E - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $35.98 and last traded at $35.89, with a volume of 69895 shares changing hands. The stock had previously closed at $35.60.

Analyst Upgrades and Downgrades

E has been the topic of a number of recent analyst reports. Morgan Stanley set a $34.60 price objective on ENI in a report on Wednesday, September 3rd. Citigroup reaffirmed a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Royal Bank Of Canada cut shares of ENI from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, September 2nd. Finally, Zacks Research cut shares of ENI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.60.

ENI Stock Performance

The firm has a market capitalization of $60.51 billion, a price-to-earnings ratio of 22.13 and a beta of 0.96. The firm has a 50 day moving average price of $34.81 and a 200-day moving average price of $31.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.18 and a quick ratio of 1.02.

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 the consensus estimate of $0.67 by $0.12. The company had revenue of $22.08 billion for the quarter, compared to the consensus estimate 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 expect that Eni SpA will post 3.74 earnings per share for the current fiscal year.

ENI Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $0.5814 per share. This represents a $2.33 annualized dividend and a yield of 6.5%. The ex-dividend date is Tuesday, November 25th. ENI's payout ratio is 98.77%.

Institutional Investors Weigh In On ENI

Several institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC increased its holdings in ENI by 8.5% in the second quarter. Corient Private Wealth LLC now owns 53,191 shares of the oil and gas exploration company's stock valued at $1,724,000 after buying an additional 4,147 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of ENI by 120.6% in the 2nd quarter. Osaic Holdings Inc. now owns 13,829 shares of the oil and gas exploration company's stock valued at $448,000 after acquiring an additional 7,561 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of ENI by 14.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 81,352 shares of the oil and gas exploration company's stock worth $2,637,000 after acquiring an additional 10,114 shares in the last quarter. Evergreen Capital Management LLC lifted its stake 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 worth $643,000 after purchasing an additional 3,874 shares during the last quarter. Finally, Vident Advisory LLC boosted its holdings in ENI by 4.7% in 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 owned by hedge funds and other institutional investors.

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.

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