Bank of America Corp DE Decreases Stake in Eni SpA (E)
Bank of America Corp DE lessened its position in Eni SpA (NYSE:E) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,212 shares of the oil and gas exploration company’s stock after selling 5,498 shares during the quarter. Bank of America Corp DE’s holdings in ENI were worth $12,072,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in E. Morgan Stanley lifted its position in shares of ENI by 10.9% in the second quarter. Morgan Stanley now owns 3,449,278 shares of the oil and gas exploration company’s stock valued at $128,038,000 after acquiring an additional 338,573 shares in the last quarter. Todd Asset Management LLC purchased a new position in ENI during the second quarter worth approximately $6,827,000. Duff & Phelps Investment Management Co. purchased a new position in ENI during the second quarter worth approximately $6,263,000. CIBC World Markets Inc. lifted its position in ENI by 214.3% during the first quarter. CIBC World Markets Inc. now owns 191,737 shares of the oil and gas exploration company’s stock worth $6,774,000 after buying an additional 130,725 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in ENI during the second quarter worth approximately $4,408,000. Institutional investors and hedge funds own 1.59% of the company’s stock.
E stock opened at $36.14 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.41 and a debt-to-equity ratio of 0.38. The firm has a market cap of $68.43 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 0.80 and a beta of 0.81. Eni SpA has a 52-week low of $31.58 and a 52-week high of $40.15.
The firm also recently announced a semiannual dividend, which was paid on Thursday, October 11th. Shareholders of record on Tuesday, September 25th were paid a dividend of $0.9783 per share. This is a boost from ENI’s previous semiannual dividend of $0.64. The ex-dividend date was Monday, September 24th. This represents a yield of 5.33%. ENI’s dividend payout ratio (DPR) is 92.72%.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded ENI from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Bank of America upgraded ENI from a “neutral” rating to a “buy” rating in a research report on Friday, October 5th. Berenberg Bank assumed coverage on ENI in a research report on Tuesday, September 11th. They set a “hold” rating on the stock. Barclays downgraded ENI from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, September 11th. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of ENI in a research note on Tuesday, August 7th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.62.
Eni S.p.A. engages in the oil and gas, electricity generation and sale, and petrochemicals businesses. The company is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas (LNG) operations in 46 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Indonesia, Ghana, and Mozambique.
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