ENI (NYSE:E) Lowered to “Underweight” Rating by JPMorgan Chase & Co.

ENI (NYSE:E) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to an “underweight” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports.

A number of other equities analysts have also commented on E. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ENI in a research report on Wednesday, October 8th. HSBC cut shares of ENI from a “buy” rating to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley set a $34.60 price target on ENI in a research note on Wednesday, September 3rd. Hsbc Global Res downgraded ENI from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Zacks Research raised ENI from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.60.

ENI Price Performance

ENI stock opened at $38.07 on Friday. The company has a market capitalization of $64.26 billion, a price-to-earnings ratio of 20.80 and a beta of 0.62. The stock’s 50 day moving average is $36.39 and its 200-day moving average is $34.36. The company has a current ratio of 1.16, a quick ratio of 0.98 and a debt-to-equity ratio of 0.37. ENI has a 12 month low of $24.65 and a 12 month high of $38.47.

ENI (NYSE:E) last released its quarterly earnings results on Friday, October 24th. The oil and gas exploration company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.17. The business had revenue of $24.11 billion during the quarter, compared to the consensus estimate of $19.88 billion. ENI had a return on equity of 8.53% and a net margin of 3.20%. Equities research analysts expect that ENI will post 3.74 EPS for the current year.

Hedge Funds Weigh In On ENI

Hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. raised its holdings in shares of ENI by 5.1% during the 3rd quarter. Bessemer Group Inc. now owns 5,904 shares of the oil and gas exploration company’s stock worth $206,000 after buying an additional 284 shares in the last quarter. DAVENPORT & Co LLC grew its position in ENI by 2.8% in the third quarter. DAVENPORT & Co LLC now owns 10,667 shares of the oil and gas exploration company’s stock valued at $373,000 after acquiring an additional 294 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in ENI by 3.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,284 shares of the oil and gas exploration company’s stock worth $366,000 after acquiring an additional 326 shares in the last quarter. United Capital Financial Advisors LLC lifted its holdings in shares of ENI by 5.0% in the third quarter. United Capital Financial Advisors LLC now owns 7,245 shares of the oil and gas exploration company’s stock worth $253,000 after acquiring an additional 347 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of ENI by 3.6% in the third quarter. Checchi Capital Advisers LLC now owns 10,970 shares of the oil and gas exploration company’s stock worth $383,000 after acquiring an additional 377 shares during 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.