Analysts Set Eneti Inc. (NYSE:NETI) Price Target at $12.80

Shares of Eneti Inc. (NYSE:NETIGet Rating) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.80.

A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Eneti from a “d” rating to a “c-” rating in a research note on Thursday, November 10th. Jefferies Financial Group initiated coverage on shares of Eneti in a research report on Tuesday, September 13th. They set a “buy” rating and a $11.00 price target for the company. Finally, Citigroup increased their price target on shares of Eneti from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday.

Eneti Price Performance

Shares of Eneti stock opened at $9.55 on Friday. Eneti has a 52-week low of $4.81 and a 52-week high of $9.81. The stock has a market capitalization of $379.53 million, a price-to-earnings ratio of 6.73 and a beta of 1.12. The company has a fifty day moving average of $8.12 and a 200-day moving average of $7.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.38 and a current ratio of 4.49.

Eneti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Monday, November 21st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $0.04 annualized dividend and a yield of 0.42%. Eneti’s payout ratio is currently 2.82%.

Institutional Investors Weigh In On Eneti

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP lifted its position in shares of Eneti by 31.6% in the 2nd quarter. Quantbot Technologies LP now owns 10,400 shares of the company’s stock worth $63,000 after purchasing an additional 2,500 shares during the period. American International Group Inc. bought a new position in shares of Eneti in the 2nd quarter worth about $66,000. Toroso Investments LLC bought a new position in shares of Eneti in the 1st quarter worth about $67,000. Freemont Management S.A. bought a new position in shares of Eneti in the 1st quarter worth about $72,000. Finally, GSA Capital Partners LLP bought a new position in shares of Eneti in the 1st quarter worth about $76,000.

About Eneti

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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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Analyst Recommendations for Eneti (NYSE:NETI)

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