Brokerages Set Eni S.p.A. (NYSE:E) Price Target at $31.60

Shares of Eni S.p.A. (NYSE:E - Get Free Report) have received a consensus rating of "Hold" from the eight ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $31.60.

Several brokerages have recently weighed in on E. StockNews.com downgraded ENI from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group downgraded shares of ENI from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $31.60 price target (down previously from $37.50) on shares of ENI in a research note on Tuesday, January 7th.

ENI Stock Down 2.0 %

Shares of NYSE:E traded down $0.54 during midday trading on Friday, hitting $25.92. 136,849 shares of the company's stock traded hands, compared to its average volume of 281,438. The firm's fifty day moving average price is $29.48 and its two-hundred day moving average price is $29.29. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.27. ENI has a twelve month low of $25.86 and a twelve month high of $33.71. The company has a market cap of $43.74 billion, a PE ratio of 15.52, a P/E/G ratio of 1.86 and a beta of 0.74.

ENI Cuts Dividend

The business also recently declared a -- dividend, which was paid on Monday, April 7th. Investors of record on Tuesday, March 25th were issued a $0.3549 dividend. The ex-dividend date was Tuesday, March 25th. This represents a yield of 5.1%. ENI's dividend payout ratio is presently 85.96%.

Institutional Investors Weigh In On ENI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in ENI in the fourth quarter worth $14,233,000. Optiver Holding B.V. grew its position in shares of ENI by 1,885.2% during the 4th quarter. Optiver Holding B.V. now owns 273,042 shares of the oil and gas exploration company's stock valued at $7,470,000 after buying an additional 259,288 shares during the last quarter. Millennium Management LLC raised its stake in ENI by 215.8% during the fourth quarter. Millennium Management LLC now owns 327,201 shares of the oil and gas exploration company's stock worth $8,952,000 after acquiring an additional 223,597 shares during the period. Northern Trust Corp lifted its holdings in ENI by 42.3% in the fourth quarter. Northern Trust Corp now owns 734,368 shares of the oil and gas exploration company's stock worth $20,092,000 after acquiring an additional 218,391 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in ENI in the fourth quarter valued at approximately $4,882,000. Institutional investors own 1.18% of the company's stock.

ENI Company Profile

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.