Eni stock slips as UBS keeps Buy rating and investors weigh payouts
Published on 11/04/2026 at 18:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points for investors
- UBS retained its Buy rating for Eni while maintaining a positive view on the energy group.
- Eni's third-quarter performance supported a stronger full-year outlook and lower financial leverage.
- Higher planned distributions keep cash returns at the center of the investment case.
UBS retained its Buy rating on Eni on Tuesday, November 3, 2026, and kept its price target at 32 euros, according to MarketScreener. Analyst Joshua Stone cited the recent strength of European oil companies' quarterly reports, with Eni and BP identified among the strongest performers.
What has changed since the last report
Eni's own third-quarter and nine-month update on October 23 reinforced the backdrop for the analyst view. In its results release, the company said adjusted net profit more than doubled year on year to 2.8 billion euros in the third quarter. Underlying oil and gas production rose 7 percent to 1.83 million barrels of oil equivalent per day.
Management also raised its 2026 adjusted cash flow from operations outlook to 16.5 billion euros and lifted expected underlying production growth to a range of 6 to 7 percent. Pro forma gearing stood at 9 percent, while gross capital expenditure remained guided at 7 billion euros and net capital expenditure below 4.5 billion euros.
Returns remain central
Eni raised its 2026 share buyback plan to 3.8 billion euros and approved an extraordinary dividend of 0.46 euros per share, scheduled for payment on December 9. The company confirmed its ordinary 2026 dividend at 1.10 euros per share, 5 percent above the 2025 level.
Eni stock traded at 25.28 euros on Lang & Schwarz at 17:48 CET on Wednesday, November 4, 2026; investors can follow the real-time quote of Eni stock.
Eni stock at a glance
- Company: Eni S.p.A.
- ISIN: IT0003132476
- Quote: 25.28 euros on Lang & Schwarz at 17:48 CET on November 4, 2026
- Analyst view: UBS Buy rating and 32 euro price target
- Shareholder returns: 3.8 billion euro buyback plan and 0.46 euro extraordinary dividend
Investors can follow developments in the FTSE MIB alongside energy prices, production trends and European sector sentiment.
