ENI (NYSE:E) Reaches New 1-Year Low – Here’s What Happened

Eni S.p.A. (NYSE:E)’s share price hit a new 52-week low on Wednesday . The company traded as low as $28.74 and last traded at $28.81, with a volume of 40681 shares changing hands. The stock had previously closed at $29.37.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of ENI from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Morgan Stanley upgraded shares of ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 price objective for the company in a research report on Thursday, August 29th. Jefferies Financial Group restated a “buy” rating on shares of ENI in a research report on Tuesday, October 15th. Sanford C. Bernstein cut shares of ENI from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Stifel Nicolaus lowered shares of ENI from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.60.

ENI Price Performance

The company’s 50-day moving average is $30.83 and its two-hundred day moving average is $31.12. 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 cap of $49.78 billion, a P/E ratio of 17.66, a PEG ratio of 1.28 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of ENI by 12.8% during the 3rd 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. FMR LLC raised its stake in shares of ENI by 33.5% during the 3rd quarter. FMR LLC now owns 583,677 shares of the oil and gas exploration company’s stock worth $17,691,000 after purchasing an additional 146,431 shares during the period. Raymond James & Associates raised its stake in shares of ENI by 0.7% during the 3rd quarter. Raymond James & Associates now owns 503,920 shares of the oil and gas exploration company’s stock worth $15,274,000 after purchasing an additional 3,738 shares during the period. American Century Companies Inc. raised its stake in shares of ENI by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 333,308 shares of the oil and gas exploration company’s stock worth $10,263,000 after purchasing an additional 22,695 shares during the period. Finally, Marshall Wace LLP purchased a new stake in ENI in the 2nd quarter worth about $6,875,000. Institutional investors and hedge funds own 1.18% of the company’s stock.

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.