Snam (OTCMKTS:SNMRY) Shares Up 1.3% – Here’s Why

Snam S.p.A. (OTCMKTS:SNMRY) shares traded up 1.3% on Friday . The company traded as high as $12.14 and last traded at $12.14. 16,216 shares traded hands during trading, a decline of 73% from the average session volume of 60,395 shares. The stock had previously closed at $11.99.

Analyst Upgrades and Downgrades

Separately, Barclays cut shares of Snam from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Snam Trading Up 1.3%

The firm’s fifty day simple moving average is $11.90 and its 200 day simple moving average is $11.27.

Snam Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.2247 per share. This represents a yield of 295.0%. The ex-dividend date was Tuesday, June 24th. Snam’s payout ratio is 70.30%.

Snam Company Profile

Snam S.p.A., together with its subsidiaries, engages in the operation of natural gas transport and storage infrastructure. The company operates through Transportation, Storage, Regasification, Energy Transition, and other segments. It provides natural gas transportation and dispatching services; and owns and manages liquified natural gas (LNG) regasification plants.