TD Waterhouse Canada Inc. Makes New $4.22 Million Investment in Eni SpA $E

TD Waterhouse Canada Inc. acquired a new stake in shares of Eni SpA (NYSE:E) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 77,732 shares of the oil and gas exploration company’s stock, valued at approximately $4,222,000.

Several other institutional investors also recently modified their holdings of E. B.A. Schrock Wealth Management Inc. purchased a new position in ENI in the 3rd quarter worth about $206,000. GAMMA Investing LLC lifted its stake in ENI by 9.7% during the 3rd quarter. GAMMA Investing LLC now owns 10,495 shares of the oil and gas exploration company’s stock valued at $570,000 after acquiring an additional 932 shares during the period. CoreCap Advisors LLC lifted its stake in ENI by 8,235.3% during the 3rd quarter. CoreCap Advisors LLC now owns 1,417 shares of the oil and gas exploration company’s stock valued at $77,000 after acquiring an additional 1,400 shares during the period. Plan A Wealth LLC lifted its stake in ENI by 33.1% during the 3rd quarter. Plan A Wealth LLC now owns 5,992 shares of the oil and gas exploration company’s stock valued at $325,000 after acquiring an additional 1,491 shares during the period. Finally, QRG Capital Management Inc. boosted its holdings in shares of ENI by 8.4% during the 2nd quarter. QRG Capital Management Inc. now owns 144,171 shares of the oil and gas exploration company’s stock valued at $6,756,000 after acquiring an additional 11,136 shares during the last quarter. 1.18% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ENI

Here are the key news stories impacting ENI this week:

• Positive Sentiment: Libya gas project completed: Eni completed its approximately $1 billion Bouri gas recovery project offshore Libya. The project should help recover previously stranded gas, increase output and strengthen Eni’s position in Libya’s energy sector. Eni completes $1bn Libya gas project
• Positive Sentiment: Egypt processing expansion: Eni plans to increase gas-processing capacity in Egypt’s Western Desert through the Meleiha Phase 2 development. The company is also starting up an Egyptian gas hub, which could accelerate production and improve the monetization of regional reserves. Italy’s Eni to increase gas processing capacity in Egypt’s Western Desert
• Positive Sentiment: Mozambique LNG growth: Eni plans six new wells for the Coral North LNG project, targeting production in 2028, while evaluating a third floating LNG facility. The potential added capacity provides longer-term volume and cash-flow growth, although benefits are several years away. Eni Advances Coral North, Evaluates Third Mozambique LNG Facility
• Neutral Sentiment: Momentum has improved: A Zacks analysis notes Eni’s recent one-week gain and considers whether the stock can remain attractive to momentum investors. This may increase investor attention, but it does not represent a new earnings or valuation catalyst. Eni SpA Is Up 5.54% in One Week

ENI Stock Down 0.1%

ENI stock opened at $58.81 on Wednesday. The stock has a market cap of $99.27 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.23. Eni SpA has a one year low of $34.50 and a one year high of $59.84. The stock has a fifty day moving average of $55.39 and a 200 day moving average of $53.57.

ENI (NYSE:E) last posted its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $27.93 billion. ENI had a return on equity of 11.27% and a net margin of 6.51%. As a group, sell-side analysts predict that Eni SpA will post 6.50 EPS for the current year.

ENI Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Tuesday, November 24th will be given a dividend of $0.6335 per share. This represents a $2.53 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 24th. This is an increase from ENI’s previous quarterly dividend of $0.6276. ENI’s payout ratio is currently 42.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Erste Group Bank lowered shares of ENI from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. BNP Paribas Exane cut shares of ENI from an “outperform” rating to a “neutral” rating and set a $56.30 price objective for the company. in a report on Wednesday, October 7th. Wall Street Zen upgraded shares of ENI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of ENI in a research report on Tuesday, September 8th. Finally, UBS Group restated a “buy” rating on shares of ENI in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.45.

ENI Profile

Eni S.p.A. is an integrated energy company headquartered in Rome, Italy. Founded in 1953, the company operates across the energy value chain, with activities spanning exploration and production, natural gas, liquefied natural gas, refining, chemicals, and energy-related services.

Eni explores for and produces oil and natural gas in several regions, including Europe, Africa, the Middle East, Asia, and the Americas. Through its downstream businesses, the company processes and markets fuels, develops chemical products, and supplies natural gas and electricity.