Eneti Inc. (NYSE:NETI) Receives $12.80 Consensus Price Target from Brokerages

Shares of Eneti Inc. (NYSE:NETIGet Rating) have received an average rating of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $12.80.

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

Eneti Price Performance

Shares of NYSE:NETI opened at $9.55 on Friday. The firm has a market cap of $379.53 million, a PE ratio of 6.73 and a beta of 1.12. The firm’s fifty day moving average is $8.12 and its 200-day moving average is $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 has a 52 week low of $4.81 and a 52 week high of $9.81.

Eneti Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its holdings in Eneti by 31.6% during the second 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 last quarter. Toroso Investments LLC purchased a new position in Eneti in the first quarter valued at about $67,000. American International Group Inc. purchased a new position in Eneti in the second quarter valued at about $66,000. Freemont Management S.A. purchased a new position in Eneti in the first quarter valued at about $72,000. Finally, GSA Capital Partners LLP purchased a new position in Eneti in the first quarter valued at 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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