Eni S.p.A. (NYSE:E) Plans Dividend Increase – $0.37 Per Share

Eni S.p.A. (NYSE:E) announced a quarterly dividend on Wednesday, June 5th, Zacks reports. Shareholders of record on Tuesday, September 24th will be given a dividend of 0.372 per share by the oil and gas exploration company on Monday, October 7th. This represents a $1.49 annualized dividend and a yield of 4.64%. The ex-dividend date is Tuesday, September 24th. This is an increase from ENI’s previous quarterly dividend of $0.35.

ENI has raised its dividend payment by an average of 16.3% per year over the last three years. ENI has a dividend payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ENI to earn $4.34 per share next year, which means the company should continue to be able to cover its $2.17 annual dividend with an expected future payout ratio of 50.0%.

ENI Price Performance

Shares of NYSE E opened at $32.05 on Monday. ENI has a 52 week low of $28.82 and a 52 week high of $34.30. The company has a quick ratio of 1.09, a current ratio of 1.28 and a debt-to-equity ratio of 0.42. The firm has a market cap of $54.10 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.26 and a beta of 0.96. The business’s 50 day moving average price is $31.46 and its 200 day moving average price is $31.54.

ENI (NYSE:E) last posted its earnings results on Friday, July 26th. The oil and gas exploration company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.14). The business had revenue of $24.82 billion for the quarter, compared to analyst estimates of $25.74 billion. ENI had a net margin of 4.21% and a return on equity of 11.84%. On average, sell-side analysts expect that ENI will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on E shares. Morgan Stanley raised shares of ENI from an “equal weight” rating to an “overweight” rating and set a $39.60 price target on the stock in a report on Thursday, August 29th. Stifel Nicolaus cut ENI from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Redburn Atlantic upgraded ENI from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 25th. StockNews.com cut ENI from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, BNP Paribas upgraded ENI from an “underperform” rating to a “neutral” rating in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, ENI has an average rating of “Hold” and a consensus price target of $39.60.

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.