ENI (NYSE:E) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• ENI shares rose above their 200-day moving average, reaching $55.11 and last trading at $54.6050, compared with a 200-day average of $52.92.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating, although the $46.15 price target is below the current share price.
• ENI’s latest quarterly earnings beat estimates, reporting $1.76 in EPS versus $1.66 expected. The company also declared a quarterly dividend of $0.6276, representing a 4.6% annualized yield.

Eni SpA (NYSE:E - Get Free Report) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $52.92 and traded as high as $55.11. ENI shares last traded at $54.6050, with a volume of 343,181 shares traded.

Wall Street Analysts Forecast Growth

E has been the subject of a number of analyst reports. Wall Street Zen raised ENI from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Erste Group Bank downgraded shares of ENI from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. Weiss Ratings lowered shares of ENI from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, August 18th. Finally, Zacks Research raised shares of 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 assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.15.

ENI Price Performance

The business has a 50 day moving average of $53.78 and a 200 day moving average of $52.92. The company has a market cap of $92.17 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 0.23 and a beta of 0.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.05.

ENI (NYSE:E - Get Free Report) last released its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.10. ENI had a return on equity of 11.27% and a net margin of 6.51%.The company had revenue of $25.87 billion during the quarter, compared to analysts' expectations of $27.93 billion. As a group, research analysts predict that Eni SpA will post 6.18 EPS for the current year.

ENI Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 22nd will be issued a $0.6276 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a $2.51 annualized dividend and a yield of 4.6%. ENI's payout ratio is 44.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new position in ENI in the 1st quarter valued at approximately $63,334,000. Natixis Advisors LLC increased its holdings in shares of ENI by 5.3% in the 4th quarter. Natixis Advisors LLC now owns 3,279,164 shares of the oil and gas exploration company's stock worth $124,411,000 after purchasing an additional 165,454 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of ENI by 109.7% in the 4th quarter. Capital Wealth Planning LLC now owns 306,408 shares of the oil and gas exploration company's stock worth $11,962,000 after purchasing an additional 160,324 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of ENI in the first quarter worth $6,586,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of ENI by 16,704.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 92,422 shares of the oil and gas exploration company's stock worth $3,506,000 after purchasing an additional 91,872 shares during the last quarter. Institutional investors own 1.18% of the company's stock.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Founded in 1953, the company operates across the energy value chain, including the exploration, development and production of oil and natural gas, as well as natural gas marketing and liquefied natural gas activities.

Eni also operates refining and chemicals businesses and has expanded into lower-carbon energy and related services. Through businesses such as Plenitude and Enilive, it provides renewable power, energy retail, electric-vehicle charging, mobility services, biofuels and other products designed to support the energy transition.

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