JPMorgan Chase & Co. Acquires 24,006 Shares of Eni SpA $E

Key Points

• JPMorgan Chase & Co. boosted its stake in ENI by 52.9% in Q3, buying 24,006 shares to hold 69,354 shares worth about $2.42 million at quarter-end.
• ENI raised its quarterly dividend to $0.6137 (annualized $2.45), yielding roughly 4.3%, with an ex-dividend date of March 24 and payment on April 8; the payout ratio is about 97.65%.
• Analyst activity has picked up—JPMorgan upgraded ENI from underweight to overweight—and the consensus rating is a "Moderate Buy" with an average price target of $34.60 versus the stock trading near $57.53.

JPMorgan Chase & Co. increased its holdings in Eni SpA (NYSE:E - Free Report) by 52.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,354 shares of the oil and gas exploration company's stock after purchasing an additional 24,006 shares during the period. JPMorgan Chase & Co.'s holdings in ENI were worth $2,424,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of E. Advisory Services Network LLC bought a new stake in ENI in the third quarter worth $47,000. Larson Financial Group LLC increased its position in ENI by 37.5% during the third quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company's stock valued at $48,000 after acquiring an additional 378 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in ENI during the third quarter valued at $48,000. Farther Finance Advisors LLC increased its position in ENI by 84.0% during the third quarter. Farther Finance Advisors LLC now owns 1,525 shares of the oil and gas exploration company's stock valued at $53,000 after acquiring an additional 696 shares during the last quarter. Finally, Rhumbline Advisers increased its position in ENI by 10.3% during the third quarter. Rhumbline Advisers now owns 4,637 shares of the oil and gas exploration company's stock valued at $162,000 after acquiring an additional 433 shares during the last quarter. Institutional investors own 1.18% of the company's stock.

ENI Trading Up 0.8%

NYSE E opened at $57.53 on Tuesday. The company's 50-day moving average price is $47.80 and its 200-day moving average price is $40.76. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The stock has a market cap of $97.11 billion, a PE ratio of 33.84, a PEG ratio of 0.28 and a beta of 0.44. Eni SpA has a 12 month low of $24.65 and a 12 month high of $58.00.

ENI (NYSE:E - Get Free Report) last posted its quarterly earnings results on Saturday, February 14th. The oil and gas exploration company reported $0.02 EPS for the quarter. The firm had revenue of $24.64 billion for the quarter. ENI had a net margin of 3.07% and a return on equity of 9.27%. Equities research analysts forecast that Eni SpA will post 3.74 earnings per share for the current year.

ENI Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Tuesday, March 24th will be issued a $0.6137 dividend. The ex-dividend date is Tuesday, March 24th. This is a boost from ENI's previous quarterly dividend of $0.58. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.3%. ENI's dividend payout ratio (DPR) is currently 97.65%.

Analysts Set New Price Targets

E has been the topic of a number of analyst reports. Erste Group Bank upgraded shares of ENI to a "strong-buy" rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. upgraded shares of ENI from an "underweight" rating to an "overweight" rating in a research report on Monday, March 2nd. Barclays reiterated an "overweight" rating on shares of ENI in a research report on Friday, December 12th. Zacks Research upgraded shares of ENI from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 31st. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of ENI in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.60.

ENI Profile

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm's activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.

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