ENI (NYSE:E) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• ENI shares crossed above their 200-day moving average, reaching $55.01 and closing at $54.73, compared with the average of $53.35.
• Analyst sentiment is generally positive: ENI has a consensus “Moderate Buy” rating and a $60.77 price target, while recent ratings included upgrades to “Buy” and “Strong Buy.”
• The company reported quarterly earnings of $1.76 per share, beating estimates, but cut its quarterly dividend slightly to $0.6276 per share, implying a 4.6% annualized yield.

Shares of Eni SpA (NYSE:E - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $53.35 and traded as high as $55.01. ENI shares last traded at $54.73, with a volume of 365,458 shares.

Wall Street Analysts Forecast Growth

E has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of ENI from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. UBS Group set a $90.00 price target on shares of ENI in a research note on Friday, September 25th. Erste Group Bank lowered shares of ENI from a "buy" rating to a "hold" rating in a report on Thursday, June 25th. HSBC reissued a "hold" rating on shares of ENI in a research note on Friday, September 25th. Finally, Zacks Research raised ENI from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.77.

ENI Price Performance

The company's fifty day moving average is $54.68 and its 200 day moving average is $53.35. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The stock has a market cap of $92.38 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.23 and a beta of 0.44.

ENI (NYSE:E - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.10. ENI had a net margin of 6.51% and a return on equity of 11.27%. The firm had revenue of $25.87 billion for the quarter, compared to analysts' expectations of $27.93 billion. As a group, sell-side analysts anticipate that Eni SpA will post 6.19 earnings per share for the current fiscal year.

ENI Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 22nd will be issued a dividend of $0.6276 per share. This represents a $2.51 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 22nd. This is a negative change from ENI's previous quarterly dividend of $0.6313. ENI's dividend payout ratio (DPR) is presently 44.50%.

Institutional Trading of ENI

Several large investors have recently added to or reduced their stakes in E. QRG Capital Management Inc. boosted its position in shares of ENI by 8.4% in the second quarter. QRG Capital Management Inc. now owns 144,171 shares of the oil and gas exploration company's stock worth $6,756,000 after buying an additional 11,136 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of ENI by 83.9% in the second quarter. Integrated Wealth Concepts LLC now owns 8,321 shares of the oil and gas exploration company's stock valued at $390,000 after buying an additional 3,797 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of ENI by 23,909.6% during the 2nd quarter. NewEdge Advisors LLC now owns 12,485 shares of the oil and gas exploration company's stock valued at $585,000 after buying an additional 12,433 shares during the period. IFP Advisors Inc raised its holdings in shares of ENI by 111.2% during the 2nd quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company's stock valued at $31,000 after buying an additional 347 shares during the period. Finally, HB Wealth Management LLC lifted its position in ENI by 18.8% during the 2nd quarter. HB Wealth Management LLC now owns 6,193 shares of the oil and gas exploration company's stock worth $290,000 after acquiring an additional 982 shares in the last quarter. 1.18% of the stock is currently owned by institutional investors and hedge funds.

About ENI

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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