Zacks Research Upgrades ENI (NYSE:E) to "Hold"

Key Points

• Zacks Research upgraded ENI from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $42.30.
• ENI opened at $55.49, near its 52-week high of $58.00, with a market capitalization of approximately $93.67 billion.
• In its latest quarter, ENI reported adjusted EPS of $1.76, beating estimates of $1.66, although revenue of $25.87 billion fell short of the $27.93 billion consensus forecast.

ENI (NYSE:E - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on E. Dbs Bank upgraded shares of ENI from a "hold" rating to a "moderate buy" rating in a report on Tuesday, April 28th. Wall Street Zen raised ENI from a "hold" rating to a "buy" rating in a research report on Saturday. BNP Paribas Exane raised ENI from a "neutral" rating to an "outperform" rating and set a $64.30 price objective on the stock in a research note on Friday, April 17th. Weiss Ratings raised ENI from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Finally, Erste Group Bank lowered ENI from a "buy" rating to a "hold" rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, ENI currently has a consensus rating of "Moderate Buy" and an average target price of $42.30.

ENI Price Performance

ENI stock opened at $55.49 on Monday. The stock's 50 day moving average is $50.72 and its 200 day moving average is $50.52. ENI has a one year low of $34.03 and a one year high of $58.00. The firm has a market cap of $93.67 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.25 and a beta of 0.39. 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 quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The firm had revenue of $25.87 billion during the quarter, compared to analyst estimates of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. As a group, research analysts expect that ENI will post 5.76 EPS for the current year.

Institutional Investors Weigh In On ENI

A number of hedge funds have recently added to or reduced their stakes in E. Arrowstreet Capital Limited Partnership bought a new position in ENI in the 1st quarter valued at about $63,334,000. Natixis Advisors LLC increased its holdings in ENI by 5.3% during 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 raised its stake in shares of ENI by 109.7% in the fourth 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 during the last quarter. Optiver Holding B.V. purchased a new stake in shares of ENI in the first quarter worth approximately $6,586,000. Finally, Arosa Capital Management LP bought a new position in shares of ENI in the fourth quarter valued at approximately $4,173,000. Institutional investors and hedge funds own 1.18% of the company's stock.

ENI Company Profile

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm's activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.

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