According to Zacks, “Eni SpA’s relatively low risk earnings growth and an increasing dividend that yields a solid 4.57% adds visibility to the story. Further with the expected strengthening of global economy, we believe that Eni offers ample opportunity for profitability in the coming quarters. However, Eni's exposure to production in the vulnerable and violence-prone regions in Nigeria poses additional risk. As it is, lower oil prices continue to take a toll on Eni's key upstream unit, while challenges faced by the European gas and refining sectors will restrict downstream performance. Moreover, the commodity price rout is making it difficult for the company to sell assets at what it thinks is a good price. Given these headwinds, we see limited upside from its current level.”
Separately, JPMorgan Chase & Co. restated a neutral rating on shares of Eni SpA in a research report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $25.99.
Shares of Eni SpA (NYSE:E) opened at 28.48 on Friday. The company has a 50-day moving average of $29.87 and a 200 day moving average of $30.60. Eni SpA has a one year low of $24.73 and a one year high of $36.02. The stock’s market cap is $52.93 billion.
The company also recently disclosed a dividend, which will be paid on Friday, October 7th. Stockholders of record on Tuesday, September 20th will be paid a $0.648 dividend. The ex-dividend date is Friday, September 16th. This is an increase from Eni SpA’s previous dividend of $0.64. Eni SpA’s payout ratio is currently -19.91%.
Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC increased its stake in Eni SpA by 6.4% in the first quarter. Aperio Group LLC now owns 291,860 shares of the oil and gas exploration company’s stock worth $8,820,000 after buying an additional 17,639 shares in the last quarter. Mondrian Investment Partners LTD increased its stake in Eni SpA by 55.0% in the first quarter. Mondrian Investment Partners LTD now owns 518,752 shares of the oil and gas exploration company’s stock worth $15,677,000 after buying an additional 184,000 shares in the last quarter. Ngam Advisors L.P. increased its stake in Eni SpA by 14.0% in the first quarter. Ngam Advisors L.P. now owns 75,517 shares of the oil and gas exploration company’s stock worth $2,283,000 after buying an additional 9,268 shares in the last quarter. RMB Capital Management LLC increased its stake in Eni SpA by 18.6% in the first quarter. RMB Capital Management LLC now owns 59,450 shares of the oil and gas exploration company’s stock worth $1,797,000 after buying an additional 9,320 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Eni SpA by 5.8% in the first quarter. Franklin Resources Inc. now owns 316,489 shares of the oil and gas exploration company’s stock worth $9,564,000 after buying an additional 17,299 shares in the last quarter. 1.74% of the stock is currently owned by institutional investors.
About Eni SpA
Eni SpA (Eni) is engaged in oil and gas exploration, development and production, marketing of gas, electricity and liquefied natural gas (LNG), power generation, refining and marketing of petroleum products, production and marketing of petrochemical products and commodity trading. The Company’s segments include Exploration & Production, Gas & Power, and Refining & Marketing.
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