ENI (NYSE:E) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research has downgraded ENI from a "strong-buy" rating to a "hold" rating, influencing the overall market perception of the stock.
• As of now, ENI has an average rating of "Hold" from analysts, with an average price target of $31.60.
• Recently, institutional ownership in ENI has seen slight increases, with significant stake acquisitions by various asset management firms.

Zacks Research lowered shares of ENI (NYSE:E - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday, August 27th,Zacks.com reports.

E has been the subject of several other research reports. Kepler Capital Markets downgraded shares of ENI from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Citigroup reissued a "neutral" rating on shares of ENI in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, ENI currently has a consensus rating of "Hold" and a consensus target price of $31.60.

ENI Stock Down 1.8%

Shares of E traded down $0.65 on Wednesday, hitting $34.82. 151,953 shares of the stock traded hands, compared to its average volume of 302,524. The company has a market capitalization of $58.78 billion, a PE ratio of 21.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.18. The business has a 50 day simple moving average of $34.03 and a 200 day simple moving average of $31.11. ENI has a one year low of $24.65 and a one year high of $35.94.

ENI (NYSE:E - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas exploration company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.12. The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $23.54 billion. ENI had a net margin of 2.84% and a return on equity of 8.53%. As a group, equities analysts forecast that ENI will post 3.74 earnings per share for the current fiscal year.

ENI Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.5826 per share. This represents a dividend yield of 440.0%. The ex-dividend date is Tuesday, September 23rd. ENI's dividend payout ratio (DPR) is currently 96.91%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis Advisors LLC lifted its stake in shares of ENI by 21.9% during the 1st quarter. Natixis Advisors LLC now owns 2,779,073 shares of the oil and gas exploration company's stock valued at $85,957,000 after buying an additional 500,039 shares in the last quarter. Millennium Management LLC increased its holdings in ENI by 215.8% in the 4th quarter. Millennium Management LLC now owns 327,201 shares of the oil and gas exploration company's stock valued at $8,952,000 after acquiring an additional 223,597 shares during the last quarter. Northern Trust Corp increased its holdings in ENI by 42.3% in the 4th quarter. Northern Trust Corp now owns 734,368 shares of the oil and gas exploration company's stock valued at $20,092,000 after acquiring an additional 218,391 shares during the last quarter. Cambiar Investors LLC increased its holdings in ENI by 1,165.9% in the 1st quarter. Cambiar Investors LLC now owns 179,182 shares of the oil and gas exploration company's stock valued at $5,542,000 after acquiring an additional 165,027 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in ENI by 44.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 405,655 shares of the oil and gas exploration company's stock valued at $12,547,000 after acquiring an additional 125,413 shares during the last quarter. Hedge funds and other institutional investors own 1.18% of the company's stock.

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.