Eneti (NETI) Declares $0.01 Dividend

Eneti said on April 27, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.

Shares must be purchased before the ex-div date of May 9, 2023 to qualify for the dividend. Shareholders of record as of May 10, 2023 will receive the payment on May 31, 2023.

At the current share price of $8.47 / share, the stock's dividend yield is 0.47%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.67%, the lowest has been 0.22%, and the highest has been 39.41%. The standard deviation of yields is 8.10 (n=237).

The current dividend yield is 0.76 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.02. 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%.

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What is the Fund Sentiment?

There are 189 funds or institutions reporting positions in Eneti. This is an increase of 32 owner(s) or 20.38% in the last quarter. Average portfolio weight of all funds dedicated to NETI is 0.11%, a decrease of 28.44%. Total shares owned by institutions increased in the last three months by 28.74% to 13,879K shares. The put/call ratio of NETI is 0.08, indicating a bullish outlook.

Analyst Price Forecast Suggests 71.00% Upside

As of April 24, 2023, the average one-year price target for Eneti is 14.48. The forecasts range from a low of 12.73 to a high of $18.90. The average price target represents an increase of 71.00% from its latest reported closing price of 8.47.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Eneti is 154MM, a decrease of 19.44%. The projected annual non-GAAP EPS is 0.46.

What are Other Shareholders Doing?

Herr Investment Group holds 1,677K shares representing 4.34% ownership of the company.

Encompass Capital Advisors holds 883K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 888K shares, representing a decrease of 0.65%. The firm increased its portfolio allocation in NETI by 15.22% over the last quarter.

Condire Management holds 792K shares representing 2.05% ownership of the company. In it's prior filing, the firm reported owning 955K shares, representing a decrease of 20.52%. The firm increased its portfolio allocation in NETI by 25.68% over the last quarter.

Millennium Management holds 603K shares representing 1.56% ownership of the company. In it's prior filing, the firm reported owning 678K shares, representing a decrease of 12.48%. The firm increased its portfolio allocation in NETI by 25.32% over the last quarter.

Valueworks holds 541K shares representing 1.40% ownership of the company. In it's prior filing, the firm reported owning 540K shares, representing an increase of 0.15%. The firm increased its portfolio allocation in NETI by 30.56% over the last quarter.

This story originally appeared on Fintel.