Janney Montgomery Scott LLC Purchases Shares of 70,651 Eneti Inc. (NYSE:NETI)

Janney Montgomery Scott LLC purchased a new stake in Eneti Inc. (NYSE:NETIGet Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,651 shares of the company’s stock, valued at approximately $471,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its holdings in Eneti by 31.6% in the second quarter. Quantbot Technologies LP now owns 10,400 shares of the company’s stock valued at $63,000 after acquiring an additional 2,500 shares during the period. Toroso Investments LLC acquired a new stake in Eneti in the first quarter valued at $67,000. American International Group Inc. acquired a new stake in Eneti in the second quarter valued at $66,000. Virtu Financial LLC purchased a new position in shares of Eneti in the first quarter valued at $94,000. Finally, Bank of America Corp DE increased its position in shares of Eneti by 43.3% in the first quarter. Bank of America Corp DE now owns 15,664 shares of the company’s stock valued at $99,000 after buying an additional 4,730 shares in the last quarter. 65.08% of the stock is currently owned by hedge funds and other institutional investors.

Eneti Price Performance

Shares of NYSE NETI opened at $10.52 on Monday. The company has a market capitalization of $418.08 million, a price-to-earnings ratio of 7.41 and a beta of 1.08. The business has a 50 day simple moving average of $9.75 and a 200-day simple moving average of $8.30. The company has a current ratio of 4.49, a quick ratio of 4.38 and a debt-to-equity ratio of 0.08. Eneti Inc. has a twelve month low of $4.81 and a twelve month high of $11.00.

Eneti (NYSE:NETIGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.06. Eneti had a return on equity of 1.67% and a net margin of 38.24%. The company had revenue of $69.19 million during the quarter, compared to analyst estimates of $63.79 million. As a group, equities research analysts expect that Eneti Inc. will post 0.94 earnings per share for the current year.

Eneti Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, November 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. Eneti’s dividend payout ratio (DPR) is 2.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NETI shares. BTIG Research raised their price target on Eneti from $15.00 to $18.00 in a research report on Thursday, January 5th. TheStreet upgraded Eneti from a “d” rating to a “c-” rating in a research report on Thursday, November 10th. Finally, Citigroup raised their price target on Eneti from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, November 17th.

About Eneti

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Eneti, Inc is focused on the offshore wind and marine-based renewable energy industry and has invested in the next generation of wind turbine installation vessels. It provides innovative maritime solutions to a wide variety of customers across the globe, safeguarding the environment, embracing sustainable business practices and generating risk-adjusted returns throughout the industry cycle.

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Institutional Ownership by Quarter for Eneti (NYSE:NETI)

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