ENI (NYSE:E) Shares Gap Up – Here’s Why

Eni S.p.A. (NYSE:E)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $28.61, but opened at $29.36. ENI shares last traded at $29.36, with a volume of 15,531 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on E shares. Morgan Stanley restated an “equal weight” rating and set a $31.60 target price (down previously from $37.50) on shares of ENI in a report on Tuesday, January 7th. UBS Group cut shares of ENI from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of ENI from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.60.

ENI Stock Up 2.6 %

The stock has a market capitalization of $49.56 billion, a price-to-earnings ratio of 17.58, a P/E/G ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.27. The firm’s fifty day simple moving average is $28.52 and its 200 day simple moving average is $29.55.

ENI Cuts Dividend

The business also recently announced a — dividend, which will be paid on Monday, April 7th. Investors of record on Tuesday, March 25th will be paid a $0.3549 dividend. This represents a yield of 5.1%. The ex-dividend date is Tuesday, March 25th. ENI’s payout ratio is presently 83.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ENI in the third quarter worth $212,000. US Bancorp DE lifted its position in ENI by 5.5% during the 3rd quarter. US Bancorp DE now owns 40,106 shares of the oil and gas exploration company’s stock worth $1,216,000 after buying an additional 2,103 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of ENI by 11.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 54,703 shares of the oil and gas exploration company’s stock worth $1,658,000 after buying an additional 5,726 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of ENI by 50.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 108,821 shares of the oil and gas exploration company’s stock valued at $3,298,000 after acquiring an additional 36,646 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of ENI by 5.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 10,853 shares of the oil and gas exploration company’s stock valued at $329,000 after acquiring an additional 608 shares during the last quarter. 1.18% of the stock is owned by institutional investors and hedge funds.

About ENI

Eni SpA engages in the exploration, production, refining, and sale of oil, gas, electricity, and chemicals. It operates through the following segments: Exploration and Production, Global Gas and LNG Portfolio, Refining & Marketing and Chemicals, Power & Renewables, and Corporate and Other Activities.