ENI (NYSE:E) Sets New 12-Month Low – Here’s Why

Shares of Eni S.p.A. (NYSE:E) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $28.01 and last traded at $28.05, with a volume of 8900 shares trading hands. The stock had previously closed at $28.18.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein lowered shares of ENI from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. BNP Paribas raised shares of ENI from an “underperform” rating to a “neutral” rating in a report on Friday, September 13th. Morgan Stanley raised shares of ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 price objective on the stock in a report on Thursday, August 29th. StockNews.com raised shares of ENI from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group reissued a “buy” rating on shares of ENI in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ENI currently has an average rating of “Moderate Buy” and an average target price of $39.60.

ENI Stock Down 1.3 %

The company’s fifty day simple moving average is $30.27 and its 200-day simple moving average is $30.83. 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 firm has a market capitalization of $46.96 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 1.23 and a beta of 0.95.

Hedge Funds Weigh In On ENI

Institutional investors and hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC lifted its stake in shares of ENI by 12.8% during the third quarter. Natixis Advisors LLC now owns 2,546,312 shares of the oil and gas exploration company’s stock worth $77,179,000 after buying an additional 288,968 shares during the period. Marshall Wace LLP acquired a new stake in shares of ENI during the second quarter worth $6,875,000. FMR LLC lifted its stake in shares of ENI by 33.5% during the third quarter. FMR LLC now owns 583,677 shares of the oil and gas exploration company’s stock worth $17,691,000 after buying an additional 146,431 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of ENI during the second quarter worth $3,764,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of ENI during the second quarter worth $3,141,000. 1.18% of the stock is owned by hedge funds and other institutional investors.

About ENI

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.