Eni stock gains as oil rally and buyback support Milan price

Published on 09/09/2026 at 15:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eni stock rises about 1.5 percent on September 9, 2026 in Milan as higher oil prices lift the FTSE MIB energy names. Q2 2026 results showed strong earnings and margins, while JPMorgan keeps an Overweight rating with a EUR 26.50 target.

Schwarz-Weiß-Reportagefoto eines Raffineriearbeiters am Rohrleitungsventil — Eni IT0003128367 Reportage zeigt Raffineriearbeiter mit Helm und Brille beim Kontrollieren eines Ventils, Illustration mit AI erstellt.

Eni stock (ISIN IT0003128367) is trading higher on September 9, 2026, with Milan prices around EUR 23.80 and a daily gain of roughly 1.4 percent in step with stronger oil and gas markets.

Oil rally and sector strength lift Eni

Italian energy shares are among the strongest names on Borsa Italiana on September 9, 2026, with Eni up between 1.4 percent and 1.7 percent intraday as Brent crude trades above USD 100 per barrel and supports the sector.

Market coverage from Teleborsa shows Eni among the top performers in Milan’s main index, with quotes such as EUR 23.83 and EUR 23.83 per share, representing gains of about 1.40 percent compared with the prior close and an intraday range between EUR 23.73 and EUR 23.96 on September 9, 2026.

Recent buyback adds support

Alongside the commodity backdrop, Eni is actively supporting its share price through buybacks. According to MarketScreener on September 9, 2026, Eni recently bought more than 3 million of its own shares for about EUR 75 million in total, and the stock was trading up 1.5 percent at EUR 23.85 at that time.

This buyback volume gives investors a concrete signal that management sees value in the current price level, with the EUR 75 million purchase helping to absorb supply and potentially underpinning the share price if volatility in oil markets remains high.

Q2 2026 results show strong earnings and margins

The latest reported figures come from Eni’s second quarter of fiscal 2026, which is the most recent interim period within the current freshness window. A recent analyst snapshot on Eni compiled by Yahoo Finance and cited by Ad-hoc news on September 8, 2026, shows Q2 FY26 revenue of USD 24.38 billion and earnings of USD 3.32 billion, implying a profit margin of 13.62 percent for that quarter.

The same snapshot contrasts these quarterly numbers with trailing figures that list revenue of USD 89.93 billion and net income of USD 5.78 billion, so Q2 FY26 earnings of USD 3.32 billion represent more than half of the trailing net income, underscoring how strong that single quarter was relative to the recent past.

For investors, the Q2 FY26 margin of 13.62 percent provides a more focused view of operating performance than the trailing free cash flow alone, which is reported at negative USD 8.98 billion in the same overview.

Analyst view: JPMorgan stays Overweight

Analysts remain constructive on Eni despite the volatility in commodity prices. According to Ad-hoc news on September 8, 2026, JPMorgan Chase & Co. reaffirmed its Overweight rating on Eni and kept the price target at EUR 26.50.

In the same analyst update cited by that report, Eni shares were quoted at around EUR 23.32 to EUR 23.35, which means the EUR 26.50 target implied an upside of about 13.5 percent from that price snapshot.

The note from JPMorgan emphasizes tighter oil and gas inventories as a key support for the sector, and the combination of a supportive commodity backdrop, Q2 2026 earnings strength and the ongoing buyback program helps explain why Eni remains on an Overweight recommendation at that level.

Stock level and trading context

On September 9, 2026, Eni shares are changing hands on Borsa Italiana’s FTSE MIB at roughly EUR 23.80, with several market snapshots during the session showing prices between EUR 23.79 and EUR 23.90 and a daily performance around plus 1.4 percent compared with the previous close.