ENI (NYSE:E) Sets New 1-Year High - Should You Buy?

Key Points

• ENI shares reached a new 52-week high of $34.95 during mid-day trading, closing last at $34.85 with significant trading volume.
• Several brokerages have recently changed their ratings on ENI, with Kepler Capital Markets lowering it from "strong-buy" to "hold" and a consensus rating now at "Hold" with a target price of $31.60.
• ENI reported earnings per share (EPS) of $0.79 for the last quarter, exceeding expectations, despite lower revenue compared to analyst estimates.

Eni SpA (NYSE:E - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $34.95 and last traded at $34.85, with a volume of 97727 shares. The stock had previously closed at $34.35.

Analysts Set New Price Targets

A number of brokerages recently issued reports on E. Kepler Capital Markets lowered ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Redburn Atlantic lowered ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Citigroup reissued a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, ENI currently has a consensus rating of "Hold" and a consensus target price of $31.60.

ENI Stock Up 1.1%

The company has a current ratio of 1.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $58.65 billion, a PE ratio of 21.45 and a beta of 0.95. The business's 50-day simple moving average is $32.85 and its 200-day simple moving average is $30.37.

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

Hedge Funds Weigh In On ENI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of ENI by 13.1% in the fourth quarter. Invesco Ltd. now owns 33,464 shares of the oil and gas exploration company's stock valued at $916,000 after purchasing an additional 3,877 shares in the last quarter. GAMMA Investing LLC grew its position 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 purchasing an additional 1,467 shares in the last quarter. Millennium Management LLC grew its position in shares of ENI by 215.8% in the fourth quarter. Millennium Management LLC now owns 327,201 shares of the oil and gas exploration company's stock valued at $8,952,000 after purchasing an additional 223,597 shares in the last quarter. Optiver Holding B.V. grew its position in shares of ENI by 1,885.2% in the fourth quarter. Optiver Holding B.V. now owns 273,042 shares of the oil and gas exploration company's stock valued at $7,470,000 after purchasing an additional 259,288 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of ENI by 10.4% in the first quarter. Janney Montgomery Scott LLC now owns 9,936 shares of the oil and gas exploration company's stock valued at $307,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 1.18% of the company's stock.

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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