Morgan Stanley Initiates Coverage on ENI (NYSE:E)

Stock analysts at Morgan Stanley assumed coverage on shares of ENI (NYSE:E) in a note issued to investors on Wednesday, StockNewsAPI reports. The firm set an “equal weight” rating on the oil and gas exploration company’s stock.

Several other brokerages have also recently issued reports on E. Berenberg Bank cut ENI from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. StockNews.com raised ENI from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, Redburn Atlantic upgraded ENI from a “neutral” rating to a “buy” rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

ENI Stock Performance

E stock opened at $31.20 on Wednesday. ENI has a twelve month low of $28.19 and a twelve month high of $34.30. The firm has a market cap of $52.66 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.75 and a beta of 0.96. The business’s fifty day simple moving average is $31.19 and its two-hundred day simple moving average is $31.81. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 0.41.

ENI (NYSE:E) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas exploration company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.18). The company had revenue of $25.16 billion during the quarter, compared to analysts’ expectations of $18.83 billion. ENI had a return on equity of 12.57% and a net margin of 3.95%. Analysts predict that ENI will post 4.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in E. JFS Wealth Advisors LLC grew its position in shares of ENI by 102.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,322 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 669 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of ENI during the first quarter worth $74,000. GAMMA Investing LLC lifted its holdings in shares of ENI by 19.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,442 shares of the oil and gas exploration company’s stock valued at $75,000 after purchasing an additional 404 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of ENI in the 4th quarter worth $84,000. Finally, Barometer Capital Management Inc. purchased a new position in ENI during the 4th quarter worth $119,000. 1.18% of the stock is currently owned by hedge funds and other institutional investors.

ENI Company Profile

Eni S.p.A. operates as an integrated energy company worldwide. The company engages in exploration, development, extracting, manufacturing, and marketing crude oil and natural gas, oil-based fuels, chemical products, and gas-fired power, as well as energy products from renewable sources. It operates through Exploration & Production; Global Gas & LNG Portfolio (GGP); Enilive, Refining and Chemicals; Plenitude & Power; and Corporate and Other Activities segments.