ENI (NYSE:E) Share Price Breaks Above 50 Day Moving Average – Here’s What Happened

Eni SpA (NYSE:E)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $56.48 and traded as high as $56.86. ENI shares last traded at $56.7380, with a volume of 339,835 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. HSBC reissued a “hold” rating on shares of ENI in a research note on Friday, September 25th. JPMorgan Chase & Co. restated a “buy” rating on shares of ENI in a research note on Tuesday, September 8th. BNP Paribas Exane lowered ENI from an “outperform” rating to a “neutral” rating and set a $56.30 price target on the stock. in a report on Wednesday, October 7th. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of ENI in a research report on Thursday, September 24th. Finally, Berenberg Bank increased their target price on ENI from $51.00 to $59.50 and gave the stock a “hold” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, ENI currently has an average rating of “Moderate Buy” and a consensus price target of $58.45.

ENI Trading Up 1.5%

The stock has a market capitalization of $95.77 billion, a PE ratio of 9.77, a P/E/G ratio of 0.17 and a beta of 0.41. The firm has a 50 day moving average price of $56.48 and a 200 day moving average price of $52.55. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 0.45.

ENI (NYSE:E) last posted its earnings results on Saturday, October 24th. The oil and gas exploration company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.26. ENI had a return on equity of 13.84% and a net margin of 8.78%. The company had revenue of $29.49 billion for the quarter, compared to analyst estimates of $25.89 billion. Equities analysts expect that Eni SpA will post 6.66 EPS for the current fiscal year.

ENI Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Tuesday, November 24th will be issued a $0.6335 dividend. This is an increase from ENI’s previous quarterly dividend of $0.6276. This represents a $2.53 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 24th. ENI’s dividend payout ratio is currently 28.92%.

Institutional Investors Weigh In On ENI

Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in shares of ENI by 111.2% during the 2nd quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company’s stock worth $31,000 after buying an additional 347 shares in the last quarter. Fifth Third Bancorp lifted its holdings in ENI by 33.4% during the third quarter. Fifth Third Bancorp now owns 763 shares of the oil and gas exploration company’s stock worth $41,000 after acquiring an additional 191 shares during the period. CoreCap Advisors LLC lifted its holdings in ENI by 8,235.3% during the third quarter. CoreCap Advisors LLC now owns 1,417 shares of the oil and gas exploration company’s stock worth $77,000 after acquiring an additional 1,400 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in ENI in the 1st quarter valued at $85,000. Finally, Allworth Financial LP grew its stake in ENI by 79.4% in the 3rd quarter. Allworth Financial LP now owns 2,962 shares of the oil and gas exploration company’s stock valued at $161,000 after purchasing an additional 1,311 shares during the period. 1.18% of the stock is owned by institutional investors.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Established in 1953 as Ente Nazionale Idrocarburi, it has developed from a state energy enterprise into an international business spanning multiple parts of the energy value chain. The company explores for and produces oil and natural gas, and is active in natural gas supply, liquefied natural gas, refining and the marketing of energy products. Its businesses also include chemicals and power generation. Eni operates in Italy and in countries across Europe, Africa, the Middle East, the Americas and Asia.