Wells Fargo & Company MN Sells 16,024 Shares of Eni S.p.A. (NYSE:E)

Wells Fargo & Company MN reduced its stake in shares of Eni S.p.A. (NYSE:E - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,765 shares of the oil and gas exploration company's stock after selling 16,024 shares during the quarter. Wells Fargo & Company MN's holdings in ENI were worth $6,314,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Brandes Investment Partners LP increased its holdings in shares of ENI by 13.1% in the fourth quarter. Brandes Investment Partners LP now owns 606,769 shares of the oil and gas exploration company's stock valued at $16,601,000 after buying an additional 70,507 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ENI in the 4th quarter valued at $14,233,000. American Century Companies Inc. increased its stake in ENI by 10.0% in the 4th quarter. American Century Companies Inc. now owns 388,578 shares of the oil and gas exploration company's stock worth $10,631,000 after purchasing an additional 35,363 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in ENI by 35.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 280,242 shares of the oil and gas exploration company's stock worth $7,667,000 after buying an additional 73,511 shares during the period. Finally, OLD Mission Capital LLC acquired a new position in shares of ENI in the fourth quarter worth about $4,882,000. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Stock Up 1.7 %

E stock traded up $0.47 during mid-day trading on Thursday, hitting $28.77. 127,560 shares of the company were exchanged, compared to its average volume of 315,362. The firm's 50 day simple moving average is $29.02 and its 200 day simple moving average is $28.92. Eni S.p.A. has a 1-year low of $24.65 and a 1-year high of $33.12. The firm has a market cap of $48.56 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.27.

ENI Increases Dividend

The business also recently announced a -- dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.5391 per share. This is an increase from ENI's previous -- dividend of $0.35. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a dividend yield of 5.5%. ENI's payout ratio is presently 87.72%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Redburn Atlantic lowered ENI from a "buy" rating to a "neutral" rating in a report on Wednesday. StockNews.com lowered shares of ENI from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group downgraded shares of ENI from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $31.60 target price (down previously from $37.50) on shares of ENI in a research note on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.