ENI (NYSE:E) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of ENI (NYSE:E) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

E has been the topic of several other reports. Morgan Stanley reissued an “equal weight” rating and set a $31.60 price target (down from $37.50) on shares of ENI in a research report on Tuesday, January 7th. UBS Group cut shares of ENI from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.60.

ENI Stock Down 2.2 %

Shares of ENI stock opened at $29.25 on Tuesday. The business has a 50-day moving average price of $28.31 and a 200 day moving average price of $29.66. ENI has a fifty-two week low of $26.12 and a fifty-two week high of $33.78. The firm has a market cap of $49.37 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.86 and a beta of 0.92. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On ENI

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of ENI by 30.5% during the fourth quarter. Allworth Financial LP now owns 2,488 shares of the oil and gas exploration company’s stock worth $70,000 after acquiring an additional 581 shares during the last quarter. R Squared Ltd acquired a new position in ENI during the 4th quarter valued at about $103,000. Jones Financial Companies Lllp grew its position in ENI by 93.4% in the 4th quarter. Jones Financial Companies Lllp now owns 4,449 shares of the oil and gas exploration company’s stock worth $122,000 after purchasing an additional 2,149 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in ENI by 7.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,341 shares of the oil and gas exploration company’s stock worth $201,000 after purchasing an additional 484 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ENI in the third quarter valued at approximately $212,000. 1.18% of the stock is owned by institutional investors and hedge funds.

About ENI

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.