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

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) reached a new 52-week high during trading on Tuesday . The company traded as high as $34.95 and last traded at $34.85, with a volume of 97727 shares changing hands. The stock had previously closed at $34.35.

Analyst Upgrades and Downgrades

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

ENI Trading Down 0.0%

The stock has a market cap of $59.38 billion, a price-to-earnings ratio of 21.72 and a beta of 0.95. 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's fifty day moving average is $33.23 and its two-hundred day moving average is $30.54.

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

Institutional Investors Weigh In On ENI

Several hedge funds have recently modified their holdings of the stock. NewSquare Capital LLC raised its stake in shares of ENI by 179.3% during the 2nd quarter. NewSquare Capital LLC now owns 916 shares of the oil and gas exploration company's stock worth $30,000 after buying an additional 588 shares during the last quarter. MAI Capital Management raised its stake in shares of ENI by 2,488.4% during the 2nd quarter. MAI Capital Management now owns 1,113 shares of the oil and gas exploration company's stock worth $36,000 after buying an additional 1,070 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of ENI by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,202 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 601 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of ENI by 100.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the oil and gas exploration company's stock worth $49,000 after buying an additional 750 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of ENI during the 1st quarter worth $54,000. 1.18% of the stock is owned by institutional investors and hedge funds.

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.