Eni SpA (NYSE:E) Increases Dividend to $0.63 Per Share

Eni SpA (NYSE:E) announced a quarterly dividend on Monday, October 5th. Shareholders of record on Tuesday, November 24th will be given a dividend of $0.6335 per share by the oil and gas exploration company on Monday, December 7th. This represents a $2.53 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 24th. This is a 0.9% increase from ENI’s previous quarterly dividend of $0.6276.

ENI has raised its dividend payment by an average of 0.1%annually over the last three years. ENI has a payout ratio of 47.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ENI to earn $6.09 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 27.4%.

ENI Stock Down 0.2%

Shares of E opened at $54.52 on Wednesday. The firm has a market cap of $92.04 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.22 and a beta of 0.44. The stock has a 50 day simple moving average of $54.84 and a two-hundred day simple moving average of $53.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.05. ENI has a 1 year low of $34.03 and a 1 year high of $58.00.

ENI (NYSE:E) last posted its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $25.87 billion during the quarter, compared to analyst estimates of $27.93 billion. ENI had a net margin of 6.51% and a return on equity of 11.27%. On average, analysts forecast that ENI will post 6.41 earnings per share for the current fiscal year.

Institutional Trading of ENI

Institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its holdings in shares of ENI by 8.4% in the 2nd quarter. QRG Capital Management Inc. now owns 144,171 shares of the oil and gas exploration company’s stock worth $6,756,000 after purchasing an additional 11,136 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of ENI by 83.9% during the second quarter. Integrated Wealth Concepts LLC now owns 8,321 shares of the oil and gas exploration company’s stock valued at $390,000 after purchasing an additional 3,797 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of ENI by 23,909.6% during the second quarter. NewEdge Advisors LLC now owns 12,485 shares of the oil and gas exploration company’s stock valued at $585,000 after purchasing an additional 12,433 shares in the last quarter. IFP Advisors Inc boosted its position in shares of ENI by 111.2% during the second quarter. IFP Advisors Inc now owns 659 shares of the oil and gas exploration company’s stock valued at $31,000 after buying an additional 347 shares during the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of ENI by 18.8% during the second quarter. HB Wealth Management LLC now owns 6,193 shares of the oil and gas exploration company’s stock valued at $290,000 after buying an additional 982 shares during the last quarter. 1.18% of the stock is currently owned by hedge funds and other institutional investors.

ENI Company Profile

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Established in 1953, the company operates across the energy value chain, with activities spanning oil and natural gas exploration and production, natural gas and liquefied natural gas, refining, chemicals, power generation and energy retail.

Eni explores for and produces hydrocarbons in multiple regions, including Europe, Africa, the Middle East, Asia and the Americas. Its downstream businesses include fuel refining and marketing, petrochemicals through Versalis, and natural gas and electricity sales.