Eneti Inc. (NASDAQ:NETI) Holdings Increased by DnB Asset Management AS

DnB Asset Management AS increased its stake in Eneti Inc. (NASDAQ:NETIGet Rating) by 3.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,050,876 shares of the company’s stock after acquiring an additional 34,865 shares during the period. DnB Asset Management AS’s holdings in Eneti were worth $6,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NETI. Philosophy Capital Management LLC bought a new position in Eneti during the 4th quarter valued at $2,765,000. Ghisallo Capital Management LLC bought a new position in Eneti during the fourth quarter valued at about $774,000. Gratia Capital LLC acquired a new position in Eneti during the fourth quarter worth about $562,000. Point72 Europe London LLP bought a new stake in Eneti in the fourth quarter worth about $4,356,000. Finally, 683 Capital Management LLC acquired a new stake in Eneti in the 4th quarter valued at about $368,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NETI shares. DNB Markets began coverage on shares of Eneti in a research note on Monday, June 20th. They issued a “buy” rating and a $11.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Eneti in a research report on Tuesday, September 13th. They issued a “buy” rating and a $11.00 price target on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.33.

Eneti Trading Down 6.9 %

NASDAQ NETI opened at $7.73 on Monday. Eneti Inc. has a 1 year low of $4.81 and a 1 year high of $17.95. The stock’s 50-day moving average price is $7.24 and its two-hundred day moving average price is $6.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.86 and a current ratio of 1.95.

Eneti (NASDAQ:NETIGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.25. Eneti had a net margin of 20.61% and a negative return on equity of 3.90%. The business had revenue of $61.28 million for the quarter, compared to analyst estimates of $49.40 million. As a group, equities research analysts expect that Eneti Inc. will post 0.8 EPS for the current year.

Eneti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 19th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.52%. Eneti’s dividend payout ratio (DPR) is presently 9.76%.

Eneti Profile

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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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Institutional Ownership by Quarter for Eneti (NASDAQ:NETI)

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