ENI (NYSE:E) Sets New 1-Year High - Here's Why

Key Points

• ENI SpA's stock reached a new 52-week high of $36.05 during mid-day trading, currently trading at $35.87.
• Wall Street analysts have mixed views on ENI, with a consensus rating of "Hold" and a target price set at $34.60.
• The company announced a quarterly dividend of $0.5814 per share, payable on December 5th, representing an annualized yield of 6.6%.

Eni SpA (NYSE:E - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $36.05 and last traded at $35.87, with a volume of 28544 shares. The stock had previously closed at $35.54.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on E. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ENI in a report on Wednesday. Zacks Research downgraded shares of ENI from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Citigroup reaffirmed a "neutral" rating on shares of ENI in a report on Friday, July 11th. Morgan Stanley set a $34.60 target price on shares of ENI in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada cut shares of ENI from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $34.60.

ENI Trading Down 0.3%

The company's fifty day simple moving average is $35.05 and its two-hundred day simple moving average is $32.08. 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 company has a market capitalization of $59.79 billion, a price-to-earnings ratio of 21.86 and a beta of 0.90.

ENI (NYSE:E - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas exploration company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.12. ENI had a net margin of 2.84% and a return on equity of 8.53%. The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $23.54 billion. Research analysts forecast that Eni SpA will post 3.74 earnings per share for the current fiscal year.

ENI Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.5814 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $2.33 annualized dividend and a dividend yield of 6.6%. ENI's dividend payout ratio is currently 104.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its position in ENI by 21.9% in the first quarter. Natixis Advisors LLC now owns 2,779,073 shares of the oil and gas exploration company's stock valued at $85,957,000 after purchasing an additional 500,039 shares in the last quarter. Northern Trust Corp grew its position in ENI by 9.1% in the first quarter. Northern Trust Corp now owns 801,152 shares of the oil and gas exploration company's stock valued at $24,780,000 after purchasing an additional 66,784 shares in the last quarter. Brandes Investment Partners LP grew its position in ENI by 5.4% in the second quarter. Brandes Investment Partners LP now owns 702,770 shares of the oil and gas exploration company's stock valued at $22,784,000 after purchasing an additional 35,772 shares in the last quarter. Raymond James Financial Inc. grew its position in ENI by 2.1% in the first quarter. Raymond James Financial Inc. now owns 531,030 shares of the oil and gas exploration company's stock valued at $16,425,000 after purchasing an additional 10,803 shares in the last quarter. Finally, American Century Companies Inc. grew its position in ENI by 12.1% in the second quarter. American Century Companies Inc. now owns 478,192 shares of the oil and gas exploration company's stock valued at $15,503,000 after purchasing an additional 51,626 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.