DNB Markets Initiates Coverage on Eneti (NASDAQ:NETI)

DNB Markets began coverage on shares of Eneti (NASDAQ:NETI – Get Rating) in a research note published on Monday morning, The Fly reports. The brokerage issued a buy rating and a $11.00 price target on the stock.

Shares of NETI opened at $6.48 on Monday. The firm has a market capitalization of $257.52 million, a PE ratio of 27.00 and a beta of 1.16. The stock has a 50 day simple moving average of $6.49 and a 200 day simple moving average of $6.71. Eneti has a 52-week low of $4.81 and a 52-week high of $20.08.

Eneti (NASDAQ:NETI – Get Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.08. Eneti had a negative return on equity of 7.53% and a negative net margin of 10.80%. The firm had revenue of $22.44 million during the quarter, compared to the consensus estimate of $19.21 million. As a group, research analysts anticipate that Eneti will post 0.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Monday, May 23rd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, May 20th. This represents a $0.04 annualized dividend and a yield of 0.62%. Eneti’s dividend payout ratio is 16.67%.

Large investors have recently made changes to their positions in the business. Toroso Investments LLC acquired a new position in shares of Eneti in the first quarter worth about $67,000. Freemont Management S.A. acquired a new stake in Eneti during the 1st quarter worth $72,000. GSA Capital Partners LLP purchased a new position in Eneti during the 1st quarter worth $76,000. Hsbc Holdings PLC purchased a new stake in shares of Eneti in the third quarter valued at about $202,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Eneti by 34.5% during the third quarter. Goldman Sachs Group Inc. now owns 14,097 shares of the company’s stock worth $235,000 after buying an additional 3,615 shares in the last quarter.

About Eneti (Get Rating)

Eneti Inc engages in the offshore wind and marine-based renewable energy businesses. It owns and operates five wind turbine installation vessels. The company was formerly known as Scorpio Bulkers Inc and changed its name to Eneti Inc in February 2021. Eneti Inc was incorporated in 2013 and is based in Monaco.

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