Eni SpA (NYSE:E) Stock Has Consensus Price Target of $60.77 According to Brokerages

Eni SpA (NYSE:E) has been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $58.45.

Several research firms have issued reports on E. Barclays restated an “overweight” rating on shares of ENI in a research note on Monday, October 5th. Grupo Santander raised ENI to an “outperform” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of ENI in a research note on Friday, September 11th. Zacks Research raised ENI from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. Finally, Wall Street Zen raised ENI from a “hold” rating to a “buy” rating in a report on Saturday, August 8th.

ENI Stock Up 0.6%

ENI stock opened at $55.98 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.05. The company’s 50-day moving average is $54.86 and its 200-day moving average is $53.40. The firm has a market capitalization of $94.49 billion, a PE ratio of 14.32, a P/E/G ratio of 0.22 and a beta of 0.44. ENI has a fifty-two week low of $34.03 and a fifty-two week high of $58.00.

ENI (NYSE:E) last issued its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. ENI had a net margin of 6.51% and a return on equity of 11.27%. The business had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $27.93 billion. Sell-side analysts anticipate that ENI will post 6.41 earnings per share for the current year.

ENI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Shareholders of record on Tuesday, November 24th will be issued a dividend of $0.6335 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $2.53 annualized dividend and a yield of 4.5%. This is a positive change from ENI’s previous quarterly dividend of $0.6276. ENI’s payout ratio is 42.97%.

Hedge Funds Weigh In On ENI

Several institutional investors and hedge funds have recently modified their holdings of E. GAMMA Investing LLC raised its position in shares of ENI by 9.7% in the third quarter. GAMMA Investing LLC now owns 10,495 shares of the oil and gas exploration company’s stock valued at $570,000 after purchasing an additional 932 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of ENI by 8,235.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,417 shares of the oil and gas exploration company’s stock worth $77,000 after buying an additional 1,400 shares during the period. Plan A Wealth LLC boosted its holdings in shares of ENI by 33.1% during the 3rd quarter. Plan A Wealth LLC now owns 5,992 shares of the oil and gas exploration company’s stock worth $325,000 after buying an additional 1,491 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of ENI by 8.4% during the 2nd 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. Finally, Integrated Wealth Concepts LLC grew its stake in ENI by 83.9% in the 2nd 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 during the last quarter. 1.18% of the stock is currently owned by institutional investors and hedge funds.

ENI Company Profile

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.