Royal Bank Of Canada Forecasts Strong Price Appreciation for ENI (NYSE:E) Stock

ENI (NYSE:E) had its target price increased by Royal Bank Of Canada from $24.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas exploration company’s stock. Royal Bank Of Canada’s target price indicates a potential downside of 50.56% from the stock’s current price.

Several other equities research analysts also recently issued reports on E. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ENI in a research report on Wednesday, January 21st. Erste Group Bank raised ENI to a “strong-buy” rating in a research report on Wednesday, February 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ENI in a research report on Thursday, January 8th. Zacks Research raised ENI from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised ENI from an “underweight” rating to an “overweight” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.30.

ENI Stock Up 2.4%

NYSE E traded up $1.32 during trading on Thursday, hitting $56.63. 198,015 shares of the company traded hands, compared to its average volume of 491,117. ENI has a 12 month low of $25.27 and a 12 month high of $58.00. The business has a fifty day simple moving average of $48.41 and a 200 day simple moving average of $41.02. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $95.60 billion, a P/E ratio of 33.38, a PEG ratio of 0.28 and a beta of 0.44.

ENI (NYSE:E) last posted its earnings results on Saturday, February 14th. The oil and gas exploration company reported $0.02 earnings per share for the quarter. ENI had a return on equity of 9.27% and a net margin of 3.07%.The company had revenue of $24.64 billion for the quarter. As a group, sell-side analysts predict that ENI will post 3.74 EPS for the current year.

Institutional Investors Weigh In On ENI

Institutional investors have recently added to or reduced their stakes in the company. DV Equities LLC acquired a new stake in ENI during the fourth quarter worth about $35,000. Manchester Capital Management LLC grew its position in ENI by 56.8% during the fourth quarter. Manchester Capital Management LLC now owns 1,206 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 437 shares in the last quarter. Advisory Services Network LLC acquired a new stake in ENI during the third quarter worth about $47,000. Larson Financial Group LLC grew its position in ENI by 37.5% during the third quarter. Larson Financial Group LLC now owns 1,387 shares of the oil and gas exploration company’s stock worth $48,000 after buying an additional 378 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in ENI during the third quarter worth about $48,000. 1.18% of the stock is owned by institutional investors and hedge funds.

About ENI

ENI S.p.A. is an integrated energy company headquartered in Rome, Italy, founded in 1953 as a state-established hydrocarbon entity and later transformed into a publicly traded multinational. The firm’s activities span the full hydrocarbon value chain and extend into power generation and low‑carbon energy solutions. ENI maintains a long history in exploration and production, engineering and project development, and downstream operations that include refining, petrochemicals and retail fuel distribution.

Core businesses include upstream exploration and production of oil and natural gas, midstream and liquefied natural gas (LNG) handling, and downstream refining and marketing of petroleum products and lubricants.