Eni (NYSE:E) announced a semiannual dividend on Friday, March 16th, Wall Street Journal reports. Stockholders of record on Tuesday, May 22nd will be paid a dividend of 0.6444 per share by the oil and gas exploration company on Thursday, June 7th. This represents a dividend yield of 3.72%. The ex-dividend date is Monday, May 21st.
ENI has decreased its dividend payment by an average of 16.3% annually over the last three years. ENI has a dividend payout ratio of 103.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ENI to earn $2.38 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 58.0%.
ENI (NYSE:E) traded up $0.11 during midday trading on Friday, hitting $34.91. 229,447 shares of the stock were exchanged, compared to its average volume of 236,764. The company has a current ratio of 1.47, a quick ratio of 1.29 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $64,143.38, a PE ratio of 34.99, a PEG ratio of 3.71 and a beta of 0.95. ENI has a 12-month low of $29.44 and a 12-month high of $37.48.
Several research analysts have issued reports on the stock. Royal Bank of Canada cut shares of ENI from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $29.44 to $34.24 in a report on Monday, February 26th. Deutsche Bank reissued a “neutral” rating on shares of ENI in a research report on Tuesday, February 20th. Zacks Investment Research raised shares of ENI from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Monday, January 29th. Finally, Goldman Sachs reaffirmed a “buy” rating on shares of ENI in a research report on Monday, December 11th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. ENI currently has an average rating of “Hold” and an average price target of $30.75.
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ENI Company Profile
Eni S.p.A. engages in the oil and gas, electricity generation and sale, and petrochemicals businesses. The company is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas (LNG) operations in 44 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana, and Mozambique.
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