ENI (NYSE:E) Reaches New 12-Month High - Here's Why

Eni SpA (NYSE:E - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $33.12 and last traded at $32.98, with a volume of 644680 shares. The stock had previously closed at $32.67.

Analyst Upgrades and Downgrades

E has been the subject of several recent analyst reports. Redburn Atlantic downgraded ENI from a "buy" rating to a "neutral" rating in a report on Wednesday, April 23rd. Kepler Capital Markets cut shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Citigroup restated a "neutral" rating on shares of ENI in a research note on Friday, April 25th. Finally, Wall Street Zen cut shares of ENI from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $31.60.

ENI Trading Down 1.7%

The business has a 50 day moving average of $29.67 and a two-hundred day moving average of $28.95. The firm has a market cap of $54.66 billion, a P/E ratio of 19.39 and a beta of 0.89. The company has a current ratio of 1.16, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

ENI (NYSE:E - Get Free Report) last issued 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. The company had revenue of $25.61 billion for the quarter, compared to analyst estimates of $25.52 billion. ENI had a net margin of 2.85% and a return on equity of 9.16%. Analysts predict that Eni SpA will post 3.74 earnings per share for the current year.

ENI Increases Dividend

The business also recently declared a -- dividend, which was paid on Monday, June 9th. Shareholders of record on Tuesday, May 20th were issued a $0.5391 dividend. This is a boost from ENI's previous -- dividend of $0.35. This represents a yield of 5.5%. The ex-dividend date of this dividend was Tuesday, May 20th. ENI's dividend payout ratio is currently 94.01%.

Hedge Funds Weigh In On ENI

Large investors have recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its holdings in ENI by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,202 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 601 shares during the period. Brooklyn Investment Group bought a new position in shares of ENI during the first quarter worth approximately $54,000. Allworth Financial LP raised its position in shares of ENI by 30.5% in the fourth quarter. Allworth Financial LP now owns 2,488 shares of the oil and gas exploration company's stock valued at $70,000 after buying an additional 581 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of ENI in the first quarter valued at approximately $78,000. Finally, GAMMA Investing LLC boosted its stake in shares of ENI by 76.8% in the first quarter. GAMMA Investing LLC now owns 3,376 shares of the oil and gas exploration company's stock valued at $104,000 after buying an additional 1,467 shares during the period. Institutional investors 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.