Eneti (NETI) Declares $0.01 Dividend

Eneti said on February 9, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Shareholders of record as of February 28, 2023 will receive the payment on March 15, 2023. Previously, the company paid $0.01 per share.

At the current share price of $10.33 / share, the stock's dividend yield is 0.39%. Looking back five years and taking a sample every week, the average dividend yield has been 7.13%, the lowest has been 0.22%, and the highest has been 39.41%. The standard deviation of yields is 8.04 (n=236).

The current dividend yield is 0.84 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.01. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.95%.

Analyst Price Forecast Suggests 35.28% Upside

As of February 10, 2023, the average one-year price target for Eneti is $13.97. The forecasts range from a low of $10.10 to a high of $18.90. The average price target represents an increase of 35.28% from its latest reported closing price of $10.33.

The projected annual revenue for Eneti is $154MM, a decrease of 22.92%. The projected annual EPS is $0.46, a decrease of 83.37%.

What is the Fund Sentiment?

There are 162 funds or institutions reporting positions in Eneti. This is an increase of 7 owner(s) or 4.52% in the last quarter. Average portfolio weight of all funds dedicated to NETI is 0.16%, an increase of 10.11%. Total shares owned by institutions increased in the last three months by 10.92% to 12,438K shares. The put/call ratio of NETI is 0.38, indicating a bullish outlook.

What are large shareholders doing?

Herr Investment Group holds 1,677K shares representing 4.47% ownership of the company.

Condire Management holds 955K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 961K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in NETI by 3.06% over the last quarter.

Encompass Capital Advisors holds 888K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 858K shares, representing an increase of 3.44%. The firm decreased its portfolio allocation in NETI by 15.85% over the last quarter.

Millennium Management holds 678K shares representing 1.81% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

DnB Asset Management AS holds 645K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 1,034K shares, representing a decrease of 60.44%. The firm decreased its portfolio allocation in NETI by 14.16% over the last quarter.

This story originally appeared on Fintel.