Eneti Inc. (NASDAQ:NETI) Announces $0.01 Quarterly Dividend

Eneti Inc. (NASDAQ:NETI – Get Rating) declared a quarterly dividend on Friday, May 13th, Wall Street Journal reports. Investors of record on Monday, May 23rd will be given a dividend of 0.01 per share on Wednesday, June 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, May 20th.

Shares of NASDAQ:NETI opened at $6.71 on Wednesday. Eneti has a 12-month low of $4.81 and a 12-month high of $21.60. The company’s 50 day moving average price is $6.25 and its two-hundred day moving average price is $7.34.

Eneti (NASDAQ:NETI – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.45). Eneti had a negative net margin of 10.80% and a negative return on equity of 7.53%. The company had revenue of $16.52 million during the quarter, compared to analyst estimates of $19.22 million. During the same period in the prior year, the firm earned ($0.36) earnings per share.

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in shares of Eneti by 3,624.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 525,029 shares of the company’s stock worth $4,064,000 after purchasing an additional 510,932 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Eneti by 57.3% during the first quarter. Renaissance Technologies LLC now owns 463,145 shares of the company’s stock worth $2,941,000 after acquiring an additional 168,787 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Eneti in the first quarter worth approximately $2,563,000. Millennium Management LLC boosted its holdings in Eneti by 324.6% in the fourth quarter. Millennium Management LLC now owns 312,467 shares of the company’s stock valued at $2,418,000 after acquiring an additional 238,878 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in Eneti in the first quarter valued at approximately $996,000.

Several brokerages have commented on NETI. Jefferies Financial Group upgraded shares of Eneti from a “hold” rating to a “buy” rating and lowered their price objective for the company from $21.00 to $10.00 in a research report on Friday, January 21st. Zacks Investment Research upgraded Eneti from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research report on Wednesday. Finally, Citigroup assumed coverage on Eneti in a research report on Friday, February 11th. They issued a “buy” rating and a $10.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $13.63.

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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