Meritage Portfolio Management Sells 90,450 Shares of Eni S.p.A. (NYSE:E)

Meritage Portfolio Management decreased its position in shares of Eni S.p.A. (NYSE:E - Free Report) by 55.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,030 shares of the oil and gas exploration company's stock after selling 90,450 shares during the quarter. Meritage Portfolio Management's holdings in ENI were worth $2,025,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. HighTower Advisors LLC grew its position in ENI by 125.1% in the 3rd quarter. HighTower Advisors LLC now owns 47,947 shares of the oil and gas exploration company's stock valued at $1,460,000 after buying an additional 26,646 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ENI by 100.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 71,207 shares of the oil and gas exploration company's stock valued at $2,158,000 after acquiring an additional 35,730 shares during the period. JPMorgan Chase & Co. lifted its position in ENI by 277.5% in the third quarter. JPMorgan Chase & Co. now owns 30,974 shares of the oil and gas exploration company's stock worth $939,000 after purchasing an additional 22,768 shares during the period. Stifel Financial Corp increased its position in shares of ENI by 248.5% during the 3rd quarter. Stifel Financial Corp now owns 36,479 shares of the oil and gas exploration company's stock valued at $1,106,000 after purchasing an additional 26,013 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of ENI by 24,141.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,454 shares of the oil and gas exploration company's stock valued at $287,000 after purchasing an additional 9,415 shares during the period. Institutional investors and hedge funds own 1.18% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on E. Morgan Stanley reaffirmed an "equal weight" rating and set a $31.60 target price (down from $37.50) on shares of ENI in a report on Tuesday, January 7th. StockNews.com cut shares of ENI from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th. Jefferies Financial Group reaffirmed a "buy" rating on shares of ENI in a report on Tuesday, October 15th. Finally, UBS Group downgraded ENI from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, ENI presently has an average rating of "Hold" and an average price target of $31.60.

ENI Stock Up 0.3 %

E traded up $0.09 on Thursday, reaching $28.55. 199,203 shares of the company traded hands, compared to its average volume of 285,192. The company has a market cap of $48.18 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.27 and a quick ratio of 1.07. The stock's 50 day moving average price is $27.86 and its 200-day moving average price is $29.85. Eni S.p.A. has a 52-week low of $26.12 and a 52-week high of $33.78.

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.