It Seems Eni S.p.A. (E) Will Go Up. Just Reaches 52-Week High

April 17, 2018 - By Linda Rogers

The stock of Eni S.p.A. (NYSE:E) hit a new 52-week high and has $42.10 target or 9.00 % above today’s $38.62 share price. The 9 months bullish chart indicates low risk for the $69.17B company. The 1-year high was reported on Apr, 17 by Barchart.com. If the $42.10 price target is reached, the company will be worth $6.22 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.84% or $0.32 during the last trading session, reaching $38.62. About 19,774 shares traded. Eni S.p.A. (NYSE:E) has risen 8.39% since April 17, 2017 and is uptrending. It has underperformed by 3.16% the S&P500.

Eni S.p.A. (NYSE:E) Ratings Coverage

Among 3 analysts covering ENI S.p.A. Common Stock (NYSE:E), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. ENI S.p.A. Common Stock had 3 analyst reports since November 7, 2017 according to SRatingsIntel. As per Wednesday, April 11, the company rating was upgraded by Deutsche Bank. The firm has “Hold” rating by RBC Capital Markets given on Monday, February 26. The firm has “Buy” rating given on Tuesday, November 7 by HSBC.

Eni S.p.A. engages in the oil and gas, electricity generation and sale, and petrochemicals businesses. The company has market cap of $69.17 billion. The firm is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas activities in 44 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana, and Mozambique. It has a 16.76 P/E ratio. It also supplies, trades, and markets gas and electricity; transports international gas; supplies crude oil; and refines and markets petroleum products at retail and wholesale markets primarily in Italy and rest of Europe.

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