Erste Group Bank Brokers Decrease Earnings Estimates for ENI

Key Points

• Erste Group Bank lowered its FY2027 earnings estimate for ENI to $5.55 per share from $5.67 and maintained a “Hold” rating, below the broader consensus estimate of $6.57.
• ENI shares opened at $57.48, near their 52-week high of $58.00. The stock carries a “Moderate Buy” consensus rating and an average analyst price target of $58.45.
• ENI raised its quarterly dividend to $0.6335 per share, implying an annualized dividend of $2.53 and a yield of approximately 4.4%; its latest quarterly earnings also exceeded analyst expectations.

Eni SpA (NYSE:E - Free Report) - Erste Group Bank dropped their FY2027 earnings estimates for shares of ENI in a report released on Thursday, October 8th. Erste Group Bank analyst H. Engel now anticipates that the oil and gas exploration company will post earnings of $5.55 per share for the year, down from their previous estimate of $5.67. Erste Group Bank has a "Hold" rating on the stock. The consensus estimate for ENI's current full-year earnings is $6.57 per share.

E has been the topic of several other reports. Berenberg Bank increased their target price on ENI from $51.00 to $59.50 and gave the stock a "hold" rating in a research report on Thursday, August 20th. Jefferies Financial Group reissued a "buy" rating on shares of ENI in a research note on Sunday, September 13th. BNP Paribas Exane cut ENI from an "outperform" rating to a "neutral" rating and set a $56.30 price target for the company. in a report on Wednesday, October 7th. Royal Bank Of Canada reaffirmed a "neutral" rating on shares of ENI in a research note on Thursday, September 24th. Finally, Zacks Research upgraded shares of ENI from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.45.

ENI Price Performance

E stock opened at $57.48 on Wednesday. The stock has a market capitalization of $97.02 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 0.22 and a beta of 0.44. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. ENI has a 52-week low of $34.03 and a 52-week high of $58.00. The stock's fifty day simple moving average is $54.98 and its 200-day simple moving average is $53.46.

ENI (NYSE:E - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.10. ENI had a return on equity of 11.27% and a net margin of 6.51%. The company had revenue of $25.87 billion for the quarter, compared to analyst estimates of $27.93 billion.

Hedge Funds Weigh In On ENI

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of ENI by 1.7% during the first quarter. Sei Investments Co. now owns 12,011 shares of the oil and gas exploration company's stock valued at $680,000 after purchasing an additional 204 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in ENI by 2.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,401 shares of the oil and gas exploration company's stock worth $419,000 after buying an additional 210 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in ENI by 2.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 11,071 shares of the oil and gas exploration company's stock worth $627,000 after buying an additional 213 shares during the last quarter. Gallacher Capital Management LLC grew its stake in ENI by 1.2% during the 1st quarter. Gallacher Capital Management LLC now owns 21,356 shares of the oil and gas exploration company's stock worth $1,209,000 after buying an additional 254 shares during the last quarter. Finally, IFP Advisors Inc increased its position in ENI by 111.2% in the second quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company's stock worth $31,000 after buying an additional 347 shares during the period. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Tuesday, November 24th will be issued a $0.6335 dividend. This is a positive change from ENI's previous quarterly dividend of $0.6276. The ex-dividend date is Tuesday, November 24th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.4%. ENI's dividend payout ratio (DPR) is 42.97%.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Established in 1953, the company operates across the energy value chain, with activities spanning oil and natural gas exploration and production, natural gas and liquefied natural gas, refining, chemicals, power generation and energy retail.

Eni explores for and produces hydrocarbons in multiple regions, including Europe, Africa, the Middle East, Asia and the Americas. Its downstream businesses include fuel refining and marketing, petrochemicals through Versalis, and natural gas and electricity sales.

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