Shares of Eneti Inc. (NASDAQ:NETI – Get Rating) have received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.17.
Separately, DNB Markets initiated coverage on Eneti in a report on Monday, June 20th. They set a “buy” rating and a $11.00 price objective on the stock.
Institutional Trading of Eneti
A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in shares of Eneti during the first quarter worth about $76,000. SIR Capital Management L.P. acquired a new stake in shares of Eneti during the 4th quarter valued at approximately $1,909,000. Premier Fund Managers Ltd acquired a new stake in shares of Eneti during the 1st quarter valued at approximately $525,000. Point72 Europe London LLP purchased a new position in shares of Eneti during the 4th quarter worth approximately $4,356,000. Finally, Valueworks LLC increased its stake in shares of Eneti by 138.1% during the 4th quarter. Valueworks LLC now owns 516,722 shares of the company’s stock worth $3,999,000 after purchasing an additional 299,689 shares in the last quarter.
Eneti Stock Performance
Eneti (NASDAQ:NETI – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.25. The company had revenue of $61.28 million during the quarter, compared to analyst estimates of $49.40 million. Eneti had a negative return on equity of 3.90% and a net margin of 20.61%. On average, analysts expect that Eneti will post 0.8 EPS for the current year.
Eneti Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 19th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Thursday, August 18th. Eneti’s dividend payout ratio (DPR) is 9.76%.
Eneti Inc engages in the offshore wind and marine-based renewable energy businesses. It owns and operates five wind turbine installation vessels. The company was formerly known as Scorpio Bulkers Inc and changed its name to Eneti Inc in February 2021. Eneti Inc was incorporated in 2013 and is based in Monaco.
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