ENI (E) Upgraded to Buy at Bank of America

Bank of America upgraded shares of ENI (NYSE:E) from a neutral rating to a buy rating in a report published on Friday, MarketBeat.com reports.

Several other equities analysts also recently issued reports on E. Sanford C. Bernstein reiterated a buy rating on shares of ENI in a research report on Friday, July 27th. Zacks Investment Research upgraded ENI from a hold rating to a buy rating and set a $41.00 price objective for the company in a research report on Thursday, June 14th. Berenberg Bank assumed coverage on ENI in a research report on Tuesday, September 11th. They issued a hold rating for the company. Credit Suisse Group upgraded ENI from a neutral rating to an outperform rating in a research report on Thursday, July 19th. Finally, JPMorgan Chase & Co. reiterated a sell rating on shares of ENI in a research report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. ENI currently has an average rating of Hold and an average price target of $37.62.

Shares of E stock opened at $37.57 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.23 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $68.43 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.80 and a beta of 0.81. ENI has a one year low of $31.58 and a one year high of $40.15.

ENI (NYSE:E) last announced its quarterly earnings results on Friday, July 27th. The oil and gas exploration company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.16). The company had revenue of $22.48 billion during the quarter. ENI had a net margin of 6.31% and a return on equity of 6.18%. Research analysts expect that ENI will post 2.59 earnings per share for the current fiscal year.

The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, October 11th. Shareholders of record on Tuesday, September 25th will be given a $0.9783 dividend. This is an increase from ENI’s previous semiannual dividend of $0.64. The ex-dividend date of this dividend is Monday, September 24th. This represents a yield of 5.33%. ENI’s payout ratio is presently 92.72%.

A number of institutional investors and hedge funds have recently modified their holdings of E. Morgan Stanley raised its position in shares of ENI by 10.9% during the second quarter. Morgan Stanley now owns 3,449,278 shares of the oil and gas exploration company’s stock worth $128,038,000 after acquiring an additional 338,573 shares during the last quarter. Todd Asset Management LLC bought a new stake in shares of ENI during the second quarter worth $6,827,000. Duff & Phelps Investment Management Co. bought a new stake in shares of ENI during the second quarter worth $6,263,000. Franklin Resources Inc. raised its position in shares of ENI by 46.3% during the first quarter. Franklin Resources Inc. now owns 452,661 shares of the oil and gas exploration company’s stock worth $15,993,000 after acquiring an additional 143,292 shares during the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of ENI by 214.3% during the first quarter. CIBC World Markets Inc. now owns 191,737 shares of the oil and gas exploration company’s stock worth $6,774,000 after acquiring an additional 130,725 shares during the last quarter. Hedge funds and other institutional investors own 1.59% of the company’s stock.

About ENI

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 46 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Indonesia, Ghana, and Mozambique.

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