Morgan Stanley Initiates Coverage on ENI (NYSE:E)

Morgan Stanley initiated coverage on shares of ENI (NYSE:E) in a research report report published on Wednesday, StockNewsAPI reports. The firm issued an equal weight rating on the oil and gas exploration company’s stock.

Several other research analysts have also recently issued reports on E. Berenberg Bank cut shares of ENI from a buy rating to a hold rating in a report on Wednesday, March 20th. Redburn Atlantic upgraded shares of ENI from a neutral rating to a buy rating in a report on Tuesday, June 25th. Finally, StockNews.com upgraded shares of ENI from a hold rating to a buy rating in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, ENI presently has a consensus rating of Moderate Buy.

ENI Stock Up 0.1 %

Shares of ENI stock opened at $31.20 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 1.07. ENI has a 1 year low of $28.19 and a 1 year high of $34.30. The firm’s 50-day moving average is $31.21 and its two-hundred day moving average is $31.82. The stock has a market cap of $52.66 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.73 and a beta of 0.96.

ENI (NYSE:E) last issued its earnings results on Wednesday, April 24th. The oil and gas exploration company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.18). ENI had a return on equity of 12.57% and a net margin of 3.95%. The business had revenue of $25.16 billion for the quarter, compared to the consensus estimate of $18.83 billion. As a group, research analysts expect that ENI will post 4.49 earnings per share for the current fiscal year.

ENI Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Tuesday, September 24th will be issued a $0.372 dividend. This is a boost from ENI’s previous quarterly dividend of $0.35. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, September 24th. ENI’s dividend payout ratio (DPR) is currently 60.34%.

Hedge Funds Weigh In On ENI

Hedge funds and other institutional investors have recently modified their holdings of the stock. JFS Wealth Advisors LLC raised its position in shares of ENI by 102.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,322 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 669 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of ENI in the 1st quarter valued at approximately $74,000. GAMMA Investing LLC raised its position in shares of ENI by 19.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,442 shares of the oil and gas exploration company’s stock valued at $75,000 after purchasing an additional 404 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of ENI in the 4th quarter valued at approximately $84,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of ENI in the 4th quarter valued at approximately $119,000. 1.18% of the stock is owned by hedge funds and other institutional investors.

ENI Company Profile

Eni S.p.A. operates as an integrated energy company worldwide. The company engages in exploration, development, extracting, manufacturing, and marketing crude oil and natural gas, oil-based fuels, chemical products, and gas-fired power, as well as energy products from renewable sources. It operates through Exploration & Production; Global Gas & LNG Portfolio (GGP); Enilive, Refining and Chemicals; Plenitude & Power; and Corporate and Other Activities segments.