Glenmede Trust Co. NA Reduces Its Holdings in Eni S.p.A. Shares

Glenmede Trust Co. NA has decided to decrease its stake in Eni S.p.A. (NYSE:E – Free Report) by 4.8% during the third quarter of the year. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission. Following this reduction, Glenmede Trust Co. NA now holds 9,252 shares in the oil and gas exploration company after selling 462 shares within the quarter. The value of Glenmede Trust Co. NA’s holdings in Eni at the end of the last quarter was approximately $280,000.

Other institutional investors have also made adjustments to their positions in Eni. For instance, GAMMA Investing LLC raised its stake in Eni by 19.8% during the second quarter, bringing its total to 2,442 shares, which are now valued at $75,000 after acquiring 404 additional shares. Meanwhile, Simplicity Wealth LLC increased its holdings by 12.2% in the same quarter, resulting in ownership of 17,209 shares worth $530,000 after purchasing 1,873 shares. Additionally, Manning & Napier Advisors LLC has acquired a new stake in Eni valued at around $3,764,000. Another investor, Blue Trust Inc., expanded its position in Eni by a significant 108.4%, now holding 12,854 shares with a value of $408,000 after a purchase of 6,687 shares. Finally, Raymond James & Associates also boosted its holdings by 1.0%, now owning a total of 500,182 shares worth $15,401,000 after buying 4,882 shares in the latest quarter. Currently, hedge funds and other institutional investors own about 1.18% of the stock.

Performance of ENI Stock

As of last Friday, ENI stock opened at $28.45. The company has a market capitalization of $48.02 billion. It holds a P/E ratio of 17.04, a PEG ratio of 1.24, and a beta of 0.93. The average price over the last 50 days is $30.04, while the 200-day average is $30.74. Eni has a 12-month low of $27.79 and a high of $34.30. Its financial metrics include a debt-to-equity ratio of 0.41, a current ratio of 1.27, and a quick ratio of 1.07.

New Analyst Ratings

Recent analysis from various research institutions has provided insights on Eni's stock performance. Morgan Stanley recently upgraded Eni from an “equal weight” rating to an “overweight” rating, setting a price target of $39.60. Conversely, Sanford C. Bernstein downgraded the stock from an “outperform” to “market perform” in their report. Meanwhile, Jefferies Financial Group has reaffirmed a “buy” rating. StockNews.com raised their classification of Eni from “hold” to “buy,” while BNP Paribas upgraded the stock from “underperform” to “neutral.” Currently, four analysts maintain a hold rating and five analysts have issued a buy rating for Eni, indicating a general consensus of a “Moderate Buy” based on MarketBeat data, with an average price target of $39.60.

About Eni S.p.A.

Eni S.p.A. is a globally integrated energy company engaged in various sectors including the exploration, development, and extraction of crude oil and natural gas. The company also focuses on the production and marketing of oil-based fuels, chemical products, and energy products from renewable sources. Eni operates through several segments including Exploration & Production, Global Gas & LNG Portfolio, and Refining and Chemicals, among others.

Eni, Glenmede, Investors