JPMorgan Chase & Co. Buys 24,006 Shares of Eni SpA $E

JPMorgan Chase & Co. lifted its stake in Eni SpA (NYSE:E) by 52.9% during the third quarter, HoldingsChannel reports. The firm owned 69,354 shares of the oil and gas exploration company’s stock after purchasing an additional 24,006 shares during the period. JPMorgan Chase & Co.’s holdings in ENI were worth $2,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC bought a new position in ENI during the 3rd quarter worth about $48,000. Advisory Services Network LLC bought a new position in ENI during the 3rd quarter worth about $47,000. United Capital Financial Advisors LLC grew its holdings in ENI by 5.0% during the 3rd quarter. United Capital Financial Advisors LLC now owns 7,245 shares of the oil and gas exploration company’s stock worth $253,000 after acquiring an additional 347 shares in the last quarter. Larson Financial Group LLC grew its holdings in ENI by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $48,000 after acquiring an additional 378 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new position in ENI during the 3rd quarter worth about $319,000. 1.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

E has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded shares of ENI from an “underweight” rating to an “overweight” rating in a report on Monday, March 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of ENI in a report on Thursday, January 8th. Erste Group Bank upgraded shares of ENI to a “strong-buy” rating in a report on Wednesday, February 18th. Wall Street Zen cut shares of ENI from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research upgraded shares of ENI from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

ENI Stock Performance

E stock opened at $57.53 on Tuesday. The firm has a market cap of $97.11 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 0.28 and a beta of 0.44. The firm has a 50-day simple moving average of $47.80 and a two-hundred day simple moving average of $40.76. Eni SpA has a one year low of $24.65 and a one year high of $58.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.19.

ENI (NYSE:E) last released its quarterly earnings results on Saturday, February 14th. The oil and gas exploration company reported $0.02 EPS for the quarter. The business had revenue of $24.64 billion during the quarter. ENI had a net margin of 3.07% and a return on equity of 9.27%. On average, equities analysts forecast that Eni SpA will post 3.74 EPS for the current fiscal year.

ENI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.6137 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This is a positive change from ENI’s previous quarterly dividend of $0.58. This represents a $2.45 annualized dividend and a dividend yield of 4.3%. ENI’s payout ratio is currently 97.65%.

ENI 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.