ENI (NYSE:E) Cut to Neutral at Redburn Atlantic

Redburn Atlantic downgraded shares of ENI (NYSE:E) from a buy rating to a neutral rating in a research report report published on Wednesday, Marketbeat Ratings reports.

Several other research analysts also recently commented on the company. StockNews.com downgraded ENI from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Morgan Stanley reaffirmed an “equal weight” rating and set a $31.60 price objective (down from $37.50) on shares of ENI in a research report on Tuesday, January 7th. Finally, UBS Group lowered shares of ENI from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, ENI has an average rating of “Hold” and an average target price of $31.60.

ENI Stock Performance

NYSE E opened at $29.00 on Wednesday. The firm’s fifty day moving average price is $29.00 and its two-hundred day moving average price is $28.88. ENI has a 1 year low of $24.65 and a 1 year high of $33.12. The firm has a market capitalization of $48.95 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41.

ENI (NYSE:E) last issued its earnings results on Thursday, April 24th. The oil and gas exploration company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $25.61 billion during the quarter, compared to the consensus estimate of $25.52 billion. ENI had a net margin of 2.76% and a return on equity of 11.03%. As a group, research analysts anticipate that ENI will post 3.74 EPS for the current year.

ENI Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 20th will be issued a $0.5391 dividend. This represents a yield of 5.5%. This is a positive change from ENI’s previous — dividend of $0.35. The ex-dividend date is Tuesday, May 20th. ENI’s dividend payout ratio is currently 87.72%.

Institutional Trading of ENI

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of ENI by 7.1% during 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 in the last quarter. Corient Private Wealth LLC lifted its position in ENI by 1.0% during the fourth quarter. Corient Private Wealth LLC now owns 49,250 shares of the oil and gas exploration company’s stock worth $1,347,000 after purchasing an additional 488 shares during the period. Signaturefd LLC grew its stake in ENI by 2.1% during the fourth quarter. Signaturefd LLC now owns 26,189 shares of the oil and gas exploration company’s stock worth $717,000 after buying an additional 532 shares in the last quarter. MML Investors Services LLC increased its holdings in ENI by 7.6% in the 3rd quarter. MML Investors Services LLC now owns 8,144 shares of the oil and gas exploration company’s stock valued at $247,000 after buying an additional 576 shares during the period. Finally, Allworth Financial LP raised its position in shares of ENI by 30.5% in the 4th quarter. Allworth Financial LP now owns 2,488 shares of the oil and gas exploration company’s stock valued at $70,000 after buying an additional 581 shares in the last quarter. Institutional investors and hedge funds own 1.18% of the company’s stock.

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.