ENI (NYSE:E) Shares Gap Up – Should You Buy?

Eni S.p.A. (NYSE:E)’s stock price gapped up before the market opened 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.

Analyst Upgrades and Downgrades

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

ENI Trading Up 3.2 %

The stock has a market cap of $49.84 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 1.86 and a beta of 0.90. The business’s 50 day simple moving average is $28.57 and its 200 day simple moving average is $29.51. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.41.

ENI Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Forum Financial Management LP increased its stake in shares of ENI by 55.0% in the 4th quarter. Forum Financial Management LP now owns 28,823 shares of the oil and gas exploration company’s stock valued at $789,000 after acquiring an additional 10,223 shares in the last quarter. Millennium Management LLC increased its stake in shares of ENI by 215.8% in the 4th quarter. Millennium Management LLC now owns 327,201 shares of the oil and gas exploration company’s stock valued at $8,952,000 after acquiring an additional 223,597 shares in the last quarter. Graham Capital Management L.P. increased its stake in shares of ENI by 63.9% in the 4th quarter. Graham Capital Management L.P. now owns 33,697 shares of the oil and gas exploration company’s stock valued at $922,000 after acquiring an additional 13,135 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of ENI in the 4th quarter valued at $2,999,000. Finally, BNP Paribas Financial Markets increased its stake in shares of ENI by 57.5% in the 4th quarter. BNP Paribas Financial Markets now owns 14,890 shares of the oil and gas exploration company’s stock valued at $407,000 after acquiring an additional 5,436 shares in the last quarter. Institutional investors own 1.18% of the company’s stock.

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.