Charles Schwab Investment Management Inc. Grows Stock Holdings in Eni SpA $E

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Eni SpA by 69.7% in the first quarter, acquiring a total of 89,941 shares valued at approximately $2.78 million.
• Eni recently announced a semi-annual dividend of $0.5826 per share, with a yield of 440.0%, despite a high dividend payout ratio of 96.91%.
• Analysts have downgraded ENI's stock ratings, with a consensus rating of "Hold" and a price target set at $31.60.

Charles Schwab Investment Management Inc. grew its position in Eni SpA (NYSE:E - Free Report) by 69.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,941 shares of the oil and gas exploration company's stock after acquiring an additional 36,933 shares during the period. Charles Schwab Investment Management Inc.'s holdings in ENI were worth $2,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC boosted its holdings in shares of 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 acquiring an additional 500,039 shares in the last quarter. Northern Trust Corp lifted its stake in shares of ENI by 42.3% in the fourth quarter. Northern Trust Corp now owns 734,368 shares of the oil and gas exploration company's stock valued at $20,092,000 after purchasing an additional 218,391 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of ENI by 44.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 405,655 shares of the oil and gas exploration company's stock valued at $12,547,000 after purchasing an additional 125,413 shares during the period. Millennium Management LLC lifted its stake 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 during the period. Finally, Meritage Portfolio Management lifted its stake in shares of ENI by 102.9% in the first quarter. Meritage Portfolio Management now owns 150,200 shares of the oil and gas exploration company's stock valued at $4,646,000 after purchasing an additional 76,170 shares during the period. Hedge funds and other institutional investors own 1.18% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Kepler Capital Markets cut shares of ENI from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada lowered shares of ENI from an "outperform" rating to a "sector perform" rating in a research report on Tuesday. Zacks Research lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, Citigroup restated a "neutral" rating on shares of ENI in a research report on Friday, July 11th. One research analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $31.60.

ENI Trading Down 2.0%

E stock traded down $0.71 during midday trading on Wednesday, hitting $34.76. The stock had a trading volume of 212,013 shares, compared to its average volume of 302,745. The firm has a market cap of $58.67 billion, a PE ratio of 21.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.18 and a quick ratio of 1.02. Eni SpA has a 12-month low of $24.65 and a 12-month high of $35.94. The company's 50-day moving average price is $34.03 and its 200 day moving average price is $31.11.

ENI (NYSE:E - Get Free Report) last released its earnings results 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 net margin of 2.84% and a return on equity of 8.53%. The firm had revenue of $22.08 billion during the quarter, compared to analysts' expectations of $23.54 billion. On average, equities research analysts predict that Eni SpA will post 3.74 earnings per share for the current fiscal year.

ENI Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, October 7th. Investors of record on Tuesday, September 23rd will be issued a $0.5826 dividend. This represents a yield of 440.0%. The ex-dividend date is Tuesday, September 23rd. ENI's payout ratio is presently 96.91%.

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.