ABC Arbitrage SA Invests $691,000 in Eni SpA $E

ABC Arbitrage SA bought a new stake in Eni SpA (NYSE:E) in the first quarter, Holdings Channel.com reports. The firm bought 12,207 shares of the oil and gas exploration company’s stock, valued at approximately $691,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of ENI in the first quarter worth about $203,000. Bleakley Financial Group LLC grew its stake in ENI by 11.8% during the 1st quarter. Bleakley Financial Group LLC now owns 32,106 shares of the oil and gas exploration company’s stock valued at $1,818,000 after acquiring an additional 3,401 shares in the last quarter. Archer Investment Corp acquired a new stake in ENI in the 1st quarter valued at about $327,000. Sequoia Financial Advisors LLC raised its holdings in ENI by 3.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 34,588 shares of the oil and gas exploration company’s stock valued at $1,958,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in ENI by 18.8% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 11,735 shares of the oil and gas exploration company’s stock worth $664,000 after purchasing an additional 1,860 shares in the last quarter. 1.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on E. Erste Group Bank cut ENI from a “buy” rating to a “hold” rating in a report on Thursday, June 25th. Royal Bank Of Canada increased their price target on ENI from $24.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, April 9th. Zacks Research downgraded ENI from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Wall Street Zen lowered ENI from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Dbs Bank upgraded ENI from a “hold” rating to a “moderate buy” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.30.

ENI Trading Up 3.6%

Shares of ENI stock opened at $49.45 on Tuesday. The stock has a 50 day moving average of $51.64 and a 200 day moving average of $48.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.02 and a current ratio of 1.16. The firm has a market capitalization of $83.48 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 0.28 and a beta of 0.40. Eni SpA has a fifty-two week low of $32.76 and a fifty-two week high of $58.00.

ENI (NYSE:E) last posted its earnings results on Tuesday, March 31st. The oil and gas exploration company reported $0.79 EPS for the quarter. ENI had a return on equity of 9.21% and a net margin of 3.37%.The company had revenue of $23.22 billion for the quarter. As a group, research analysts predict that Eni SpA will post 5.09 earnings per share for the current year.

ENI Company 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.