Eneti (NASDAQ:NETI) Coverage Initiated by Analysts at DNB Markets

DNB Markets assumed coverage on shares of Eneti (NASDAQ:NETIGet Rating) in a research report report published on Monday morning, The Fly reports. The brokerage issued a buy rating and a $11.00 price target on the stock.

Shares of NETI stock opened at $6.48 on Monday. Eneti has a 12 month low of $4.81 and a 12 month high of $20.08. The firm has a market cap of $257.52 million, a PE ratio of 27.00 and a beta of 1.16. The stock has a 50 day moving average of $6.49 and a 200-day moving average of $6.71.

Eneti (NASDAQ:NETIGet Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.08. The company had revenue of $22.44 million for the quarter, compared to analysts’ expectations of $19.21 million. Eneti had a negative return on equity of 7.53% and a negative net margin of 10.80%. On average, equities analysts expect that Eneti will post 0.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Monday, May 23rd were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 20th. This represents a $0.04 annualized dividend and a yield of 0.62%. Eneti’s dividend payout ratio is presently 16.67%.

A number of hedge funds have recently modified their holdings of NETI. Handelsbanken Fonder AB bought a new stake in Eneti during the 4th quarter worth approximately $12,900,000. DNB Asset Management AS raised its position in Eneti by 19.4% during the first quarter. DNB Asset Management AS now owns 1,016,011 shares of the company’s stock valued at $6,442,000 after purchasing an additional 164,924 shares in the last quarter. Condire Management LP grew its stake in shares of Eneti by 5.8% during the fourth quarter. Condire Management LP now owns 960,992 shares of the company’s stock valued at $7,438,000 after buying an additional 52,577 shares during the last quarter. Evermore Global Advisors LLC grew its stake in shares of Eneti by 278.7% during the fourth quarter. Evermore Global Advisors LLC now owns 603,908 shares of the company’s stock valued at $4,674,000 after buying an additional 444,444 shares during the last quarter. Finally, Point72 Europe London LLP bought a new stake in shares of Eneti in the fourth quarter worth about $4,356,000.

About Eneti (Get Rating)

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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