ENI (NYSE:E) Sets New 12-Month High – Should You Buy?

Eni SpA (NYSE:E) shares reached a new 52-week high on Tuesday . The stock traded as high as $44.50 and last traded at $44.4440, with a volume of 771649 shares traded. The stock had previously closed at $44.12.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on E shares. Erste Group Bank raised shares of ENI to a “strong-buy” rating in a research report on Wednesday, February 18th. Wall Street Zen lowered ENI from a “buy” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of ENI in a research report on Wednesday, January 21st. UBS Group raised ENI from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 25th. Finally, JPMorgan Chase & Co. downgraded ENI from an “overweight” rating to an “underweight” rating in a research note on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, ENI presently has a consensus rating of “Hold” and an average price target of $34.60.

ENI Price Performance

The firm has a 50-day moving average of $39.84 and a 200-day moving average of $37.35. The stock has a market cap of $75.02 billion, a PE ratio of 24.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.16 and a quick ratio of 0.98.

Hedge Funds Weigh In On ENI

Hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund purchased a new position in shares of ENI during the third quarter valued at approximately $2,016,000. RD Lewis Holdings Inc. purchased a new stake in shares of ENI in the second quarter worth approximately $2,316,000. Trek Financial LLC bought a new stake in shares of ENI during the 3rd quarter worth approximately $4,128,000. Fisher Asset Management LLC boosted its holdings in ENI by 25.2% during the 2nd quarter. Fisher Asset Management LLC now owns 143,622 shares of the oil and gas exploration company’s stock valued at $4,656,000 after acquiring an additional 28,926 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in ENI during the 2nd quarter valued at $3,982,000. Hedge funds and other institutional investors own 1.18% of the company’s stock.

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.