ENI (NYSE:E) Downgraded by Zacks Research to “Hold”

ENI (NYSE:E) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on E. JPMorgan Chase & Co. lowered ENI from an “overweight” rating to an “underweight” rating in a research report on Friday, December 5th. Wall Street Zen upgraded shares of ENI from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. HSBC cut shares of ENI from a “buy” rating to a “hold” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of ENI in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $34.60 price objective on ENI in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $34.60.

ENI Stock Performance

ENI stock opened at $37.83 on Tuesday. The firm’s 50 day simple moving average is $37.04 and its 200-day simple moving average is $35.14. The company has a market cap of $63.86 billion, a P/E ratio of 20.67 and a beta of 0.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.16 and a quick ratio of 0.98. ENI has a fifty-two week low of $24.65 and a fifty-two week high of $38.47.

ENI (NYSE:E) last issued its quarterly earnings results on Friday, October 24th. The oil and gas exploration company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.73 by $0.17. ENI had a net margin of 3.20% and a return on equity of 8.53%. The business had revenue of $24.11 billion during the quarter, compared to the consensus estimate of $19.88 billion. As a group, equities research analysts predict that ENI will post 3.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Natixis Advisors LLC raised its stake in ENI by 6.6% in the third quarter. Natixis Advisors LLC now owns 3,113,710 shares of the oil and gas exploration company’s stock valued at $108,824,000 after purchasing an additional 192,646 shares in the last quarter. American Century Companies Inc. raised its position in shares of ENI by 33.2% during the 3rd quarter. American Century Companies Inc. now owns 636,891 shares of the oil and gas exploration company’s stock valued at $22,259,000 after buying an additional 158,699 shares in the last quarter. Capital Wealth Planning LLC bought a new stake in shares of ENI during the 3rd quarter worth $5,106,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ENI during the 2nd quarter worth $3,982,000. Finally, Trek Financial LLC purchased a new position in ENI in the third quarter worth $4,128,000. 1.18% of the stock is currently owned by hedge funds and other institutional investors.

About ENI

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.