Eni SpA (NYSE:E) to Issue Quarterly Dividend of $0.63

Eni SpA (NYSE:E) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Tuesday, September 22nd will be paid a dividend of 0.6276 per share by the oil and gas exploration company on Wednesday, October 7th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 22nd.

ENI has raised its dividend payment by an average of 0.1%per year over the last three years. ENI has a payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ENI to earn $5.62 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 30.8%.

ENI Price Performance

Shares of NYSE:E opened at $54.60 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $92.17 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.23 and a beta of 0.38. The business has a 50 day moving average price of $53.78 and a 200 day moving average price of $52.92. ENI has a twelve month low of $34.03 and a twelve month high of $58.00.

ENI (NYSE:E) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.10. The company had revenue of $25.87 billion for the quarter, compared to analyst estimates of $27.93 billion. ENI had a return on equity of 11.27% and a net margin of 6.51%. Research analysts predict that ENI will post 6.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded ENI from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Erste Group Bank lowered shares of ENI from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Zacks Research upgraded shares of ENI from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings lowered ENI from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, ENI has a consensus rating of “Moderate Buy” and an average target price of $46.15.

About ENI

Eni S.p.A. is an Italian integrated energy company headquartered in Rome. Founded in 1953, the company operates across the energy value chain, including the exploration, development and production of oil and natural gas, as well as natural gas marketing and liquefied natural gas activities.

Eni also operates refining and chemicals businesses and has expanded into lower-carbon energy and related services. Through businesses such as Plenitude and Enilive, it provides renewable power, energy retail, electric-vehicle charging, mobility services, biofuels and other products designed to support the energy transition.