According to Zacks, “Eni SpA’s relatively low risk earnings growth and an increasing dividend that yields a solid 4.19% 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. Moreover, we can see from Eni’s share price chart, that the share has outperformed the broader market indices over the last three months. 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.”
Several other equities research analysts have also issued reports on E. Citigroup Inc. reaffirmed a buy rating on shares of ENI S.p.A. in a research report on Monday, October 17th. J P Morgan Chase & Co lowered ENI S.p.A. from a neutral rating to an underweight rating in a report on Wednesday, November 2nd. Deutsche Bank AG reissued a buy rating on shares of ENI S.p.A. in a report on Tuesday, November 15th. Morgan Stanley raised ENI S.p.A. from an underweight rating to an equal weight rating in a report on Monday, December 5th. Finally, BNP Paribas raised ENI S.p.A. from an underperform rating to a neutral rating in a report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $25.99.
Shares of ENI S.p.A. (NYSE:E) traded down 0.32% on Tuesday, hitting $30.75. 86,418 shares of the stock traded hands. The firm’s market capitalization is $54.00 billion. ENI S.p.A. has a 52 week low of $25.59 and a 52 week high of $33.40. The firm’s 50 day moving average is $32.00 and its 200 day moving average is $30.02.
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Several hedge funds have recently modified their holdings of the stock. Brandes Investment Partners LP increased its stake in shares of ENI S.p.A. by 2.9% in the third quarter. Brandes Investment Partners LP now owns 3,865,913 shares of the oil and gas exploration company’s stock worth $111,609,000 after buying an additional 109,393 shares during the period. Morgan Stanley increased its stake in shares of ENI S.p.A. by 7.7% in the third quarter. Morgan Stanley now owns 1,667,085 shares of the oil and gas exploration company’s stock worth $48,129,000 after buying an additional 119,575 shares during the period. Mackenzie Financial Corp increased its stake in shares of ENI S.p.A. by 22.0% in the third quarter. Mackenzie Financial Corp now owns 1,009,704 shares of the oil and gas exploration company’s stock worth $29,150,000 after buying an additional 182,204 shares during the period. Mondrian Investment Partners LTD increased its stake in shares of ENI S.p.A. by 11.1% in the third quarter. Mondrian Investment Partners LTD now owns 964,762 shares of the oil and gas exploration company’s stock worth $27,853,000 after buying an additional 96,010 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of ENI S.p.A. by 23.5% in the third quarter. Lazard Asset Management LLC now owns 559,605 shares of the oil and gas exploration company’s stock worth $16,155,000 after buying an additional 106,665 shares during the period. Hedge funds and other institutional investors own 1.83% of the company’s stock.
About ENI S.p.A.
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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