Park Avenue Securities LLC Buys New Position in Eni SpA $E

Key Points

• Park Avenue Securities LLC has acquired a new stake in Eni SpA, purchasing 8,088 shares valued at approximately $262,000 during the second quarter.
• Eni recently reported a quarterly earnings per share (EPS) of $0.79, which exceeded the consensus estimate of $0.67, though the company's revenue of $22.08 billion fell short of analyst expectations.
• The company declared a quarterly dividend of $0.5814 per share, which will be paid to shareholders on December 5th, representing an annual yield of 6.6%.

Park Avenue Securities LLC acquired a new stake in shares of Eni SpA (NYSE:E - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,088 shares of the oil and gas exploration company's stock, valued at approximately $262,000.

A number of other institutional investors have also modified their holdings of the stock. Jump Financial LLC purchased a new position in ENI during the first quarter valued at approximately $222,000. American Century Companies Inc. grew its stake in shares of ENI by 9.8% during the 1st quarter. American Century Companies Inc. now owns 426,566 shares of the oil and gas exploration company's stock worth $13,194,000 after purchasing an additional 37,988 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of ENI by 69.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 89,941 shares of the oil and gas exploration company's stock worth $2,782,000 after purchasing an additional 36,933 shares during the period. Raymond James Financial Inc. increased its holdings in shares of ENI by 2.1% during the 1st quarter. Raymond James Financial Inc. now owns 531,030 shares of the oil and gas exploration company's stock valued at $16,425,000 after purchasing an additional 10,803 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of ENI by 76.8% in the 1st quarter. GAMMA Investing LLC now owns 3,376 shares of the oil and gas exploration company's stock valued at $104,000 after purchasing an additional 1,467 shares during the period. Hedge funds and other institutional investors own 1.18% of the company's stock.

ENI Price Performance

Shares of NYSE:E opened at $35.03 on Thursday. Eni SpA has a 12 month low of $24.65 and a 12 month high of $35.98. The firm has a market capitalization of $59.13 billion, a P/E ratio of 21.62 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.18 and a quick ratio of 1.02. The company's fifty day moving average price is $34.96 and its 200 day moving average price is $31.94.

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

ENI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th will be paid a $0.5814 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $2.33 dividend on an annualized basis and a yield of 6.6%. ENI's payout ratio is currently 98.77%.

Wall Street Analysts Forecast Growth

E has been the topic of several analyst reports. Zacks Research lowered shares of ENI from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. Royal Bank Of Canada cut ENI from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, September 2nd. Citigroup restated a "neutral" rating on shares of ENI in a research note on Friday, July 11th. Finally, Morgan Stanley set a $34.60 price target on ENI in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, ENI has an average rating of "Hold" and a consensus target price of $34.60.

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.

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