Sagespring Wealth Partners LLC Purchases New Stake in Eni SpA $E

Sagespring Wealth Partners LLC purchased a new stake in shares of Eni SpA (NYSE:E) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,817 shares of the oil and gas exploration company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC increased its position in ENI by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,202 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 601 shares during the period. Brooklyn Investment Group acquired a new stake in ENI in the first quarter worth $54,000. SVB Wealth LLC acquired a new stake in ENI in the first quarter worth $78,000. GAMMA Investing LLC increased its position in ENI by 76.8% in the first quarter. GAMMA Investing LLC now owns 3,376 shares of the oil and gas exploration company’s stock worth $104,000 after buying an additional 1,467 shares during the period. Finally, Bessemer Group Inc. increased its position in ENI by 45.4% in the first quarter. Bessemer Group Inc. now owns 3,405 shares of the oil and gas exploration company’s stock worth $106,000 after buying an additional 1,063 shares during the period. 1.18% of the stock is owned by institutional investors and hedge funds.

ENI Stock Up 1.6%

E opened at $34.76 on Friday. Eni SpA has a fifty-two week low of $24.65 and a fifty-two week high of $36.05. The business has a 50-day moving average of $35.10 and a 200-day moving average of $32.26. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.18 and a quick ratio of 1.02. The company has a market capitalization of $58.68 billion, a PE ratio of 21.46 and a beta of 0.90.

ENI (NYSE:E) last posted its quarterly earnings results on Friday, July 25th. The oil and gas exploration company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. ENI had a return on equity of 8.53% and a net margin of 2.84%.The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $23.54 billion. Equities research analysts forecast that Eni SpA will post 3.74 EPS for the current fiscal year.

ENI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Tuesday, November 25th will be given a $0.5814 dividend. This represents a $2.33 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Tuesday, November 25th. ENI’s payout ratio is currently 104.32%.

Analyst Ratings Changes

E has been the topic of several analyst reports. Morgan Stanley set a $34.60 target price on ENI in a research report on Wednesday, September 3rd. Royal Bank Of Canada lowered ENI from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, September 2nd. Zacks Research cut ENI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 27th. Jefferies Financial Group raised ENI to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ENI in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.60.

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.