Envestnet Asset Management Inc. Trims Stock Holdings in Eni SpA (NYSE:E)

Envestnet Asset Management Inc. cut its holdings in Eni SpA (NYSE:E - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,720 shares of the oil and gas exploration company's stock after selling 11,226 shares during the quarter. Envestnet Asset Management Inc.'s holdings in ENI were worth $5,188,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Meritage Portfolio Management lifted its stake in 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 buying an additional 76,170 shares during the period. DAVENPORT & Co LLC raised its position in shares of ENI by 11.5% during the first quarter. DAVENPORT & Co LLC now owns 10,260 shares of the oil and gas exploration company's stock worth $317,000 after purchasing an additional 1,062 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of ENI by 10.5% during the first quarter. Sequoia Financial Advisors LLC now owns 12,754 shares of the oil and gas exploration company's stock worth $394,000 after purchasing an additional 1,209 shares during the period. Golden State Wealth Management LLC raised its position in shares of ENI by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,202 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 601 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of ENI by 45.4% during the first quarter. Bessemer Group Inc. now owns 3,405 shares of the oil and gas exploration company's stock worth $106,000 after purchasing an additional 1,063 shares during the period. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Trading Down 1.2%

E stock traded down $0.40 during midday trading on Monday, reaching $34.29. 256,542 shares of the company traded hands, compared to its average volume of 240,194. Eni SpA has a 52-week low of $24.65 and a 52-week high of $34.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.16. The business has a 50 day moving average of $31.89 and a 200-day moving average of $29.96. The firm has a market capitalization of $57.88 billion, a price-to-earnings ratio of 21.17 and a beta of 0.90.

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, beating analysts' consensus estimates of $0.67 by $0.12. ENI had a return on equity of 8.56% and a net margin of 2.84%. The firm had revenue of $22.08 billion for the quarter, compared to analysts' expectations of $23.54 billion. As a group, sell-side analysts expect that Eni SpA will post 3.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

E has been the subject of several recent research reports. Kepler Capital Markets downgraded ENI from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Citigroup restated a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Finally, Redburn Atlantic downgraded ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $31.60.

ENI 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.