Eni SPA (E)
NYSE:E
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Eni SPA
(NYSE:E)
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Rating:65Neutral
Price Target:
$58.00
▲(11.00% Upside)
Action:ReiteratedDate:04/28/26
The score is driven primarily by softer underlying financial performance (compressed margins and weaker free cash flow) balanced by a constructive earnings-call outlook (upgraded 2026 cash flow guidance and a materially higher buyback plan). Technicals are neutral-to-slightly positive, while valuation is only moderately supportive given a ~19.5 P/E and ~2.67% yield.
Positive Factors
Large exploration success (~1bn BOE)
Adding ~1bn BOE materially replenishes reserves and lengthens production runway. Many finds are near existing infrastructure enabling faster development and lower sanction-to-production timelines, which supports sustainable production growth and long-term cash generation beyond near-term commodity cycles.
Negative Factors
Compressed margins and weaker free cash flow
Material margin compression and a sharp drop in free cash flow weaken internal funding for capex and de-risking. Lower cash conversion makes distributions and buybacks more sensitive to commodity swings, reducing the company's cushion to absorb prolonged price or demand weakness.
Read all positive and negative factors
Positive Factors
Negative Factors
Large exploration success (~1bn BOE)
Adding ~1bn BOE materially replenishes reserves and lengthens production runway. Many finds are near existing infrastructure enabling faster development and lower sanction-to-production timelines, which supports sustainable production growth and long-term cash generation beyond near-term commodity cycles.
Read all positive factors
Eni SPA (E) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$82.35B
Dividend Yield5.41%
Average Volume (3M)706.17K
Price to Earnings (P/E)16.8
Beta (1Y)0.14
Revenue Growth-3.06%
EPS Growth9.20%
CountryUS
Employees32,492
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)1.01
Shares Outstanding1,513,991,100
10 Day Avg. Volume714,446
30 Day Avg. Volume706,168
Financial Highlights & Ratios
PEG Ratio2.11
Price to Book (P/B)1.14
Price to Sales (P/S)0.59
P/FCF Ratio10.55
Enterprise Value/Market Cap1.19
Enterprise Value/Revenue1.23
Enterprise Value/Gross Profit26.93
Enterprise Value/Ebitda8.05
Forecast
1Y Price Target
$58.03Price Target Upside11.07% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)6.03
Revenue Forecast (FY)$110.44B
Eni SPA Business Overview & Revenue Model
Company Description
Eni S.p.A. engages in the exploration, development, and production of crude oil and natural gas. It operates through Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporate and O...
How the Company Makes Money
Eni makes money primarily by producing and selling hydrocarbons and by transforming, trading, and marketing energy products and services across several segments. (1) Upstream (exploration & production): Eni generates revenue from the sale of crude...
Eni SPA Earnings Call Summary
Earnings Call Date:Apr 24, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 24, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive strategic and financial picture: strong exploration results (adding roughly 1 billion BOE of resources), solid pro forma EBIT (EUR 3.5bn), upgraded 2026 cash flow guidance (pre-working capital EUR 13.8bn, +20%) and a materially enhanced shareholder distribution plan (buyback ~EUR 2.8bn). These positives were balanced against near-term headwinds — Q1 refinery maintenance reducing downstream capture, a large working capital drag from March price spikes, cost inflation and some non-commercial exploration outcomes — but management provided clear mitigation plans (CapEx discipline, transformation of chemicals, Plenitude deconsolidation) and expects many impacts to reverse or improve over the year.Positive Updates
Strong Pro Forma EBIT and Operating Cash Flow
Reported pro forma EBIT of EUR 3.5 billion and cash flow from operations of EUR 2.9 billion in Q1 2026.
Negative Updates
Downstream/Refinery Underperformance in Q1
Downstream and biorefineries were under major planned maintenance/turnaround in Q1, resulting in lower utilization and reduced capture of upside in the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Pro Forma EBIT and Operating Cash Flow
Reported pro forma EBIT of EUR 3.5 billion and cash flow from operations of EUR 2.9 billion in Q1 2026.
Read all positive updates
Company Guidance
Eni updated 2026 guidance and near‑term targets with a host of metrics: Q1 reported pro‑forma EBIT €3.5bn, cash from operations €2.9bn and pro‑forma gearing 15% (12% if Plenitude deconsolidation fully reflected; Plenitude net debt ~€2.6bn, deconsolidation expected Q3), Q1 E&P production +9% YoY; Q1 CapEx €1.9bn (FY CapEx €7bn, net ≈ gross), tax rate guided at 42% with cash tax ~25%, working capital hit cash flow in Q1 but is expected to reverse in coming quarters. Management raised its market assumptions to Brent $83/bbl (from $70), TTF €50/MWh (from €36) and refining margin $8/bbl (from $6), and now sees cash flow from operations pre‑working capital €13.8bn (vs €11.5bn prior, +20%) — underpinning a proposed share buyback of ~€2.8bn (about +90%, floor for 2026) to be put to shareholders at the AGM on 6 May; other FY guidance includes E&P production growth 3–4%, GGP pro‑forma EBIT €1.3bn, transition pro‑forma EBITDA €2.4bn, Plenitude gross EBITDA €1.3bn (+20%) and Enilive EBITDA €1.1bn (+16% y/y).Eni SPA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 79.33B | 82.15B | 88.80B | 93.72B | 132.51B | 76.58B |
| Gross Profit | 3.63B | 8.43B | 11.54B | 13.47B | 26.92B | 14.85B |
| EBITDA | 12.16B | 14.43B | 18.02B | 17.57B | 28.14B | 18.95B |
| Net Income | 2.51B | 2.61B | 2.62B | 4.77B | 13.89B | 5.82B |
Balance Sheet | ||||||
| Total Assets | 147.71B | 139.20B | 150.08B | 146.37B | 156.35B | 143.60B |
| Cash, Cash Equivalents and Short-Term Investments | 14.78B | 15.09B | 14.98B | 16.98B | 18.41B | 14.55B |
| Total Debt | 36.57B | 39.20B | 41.84B | 39.14B | 36.87B | 38.13B |
| Total Liabilities | 93.42B | 91.41B | 99.43B | 97.80B | 106.12B | 104.08B |
| Stockholders Equity | 49.19B | 42.94B | 47.78B | 48.10B | 49.76B | 39.44B |
Cash Flow | ||||||
| Free Cash Flow | 3.00B | 4.63B | 5.09B | 6.38B | 9.76B | 7.91B |
| Operating Cash Flow | 12.38B | 13.33B | 13.09B | 15.12B | 17.46B | 12.86B |
| Investing Cash Flow | -9.97B | -8.59B | -9.23B | -9.38B | -6.93B | -12.02B |
| Financing Cash Flow | -2.54B | -4.30B | -5.97B | -5.65B | -8.63B | -2.04B |
Eni SPA Technical Analysis
Neutral
52.25
Price Trends
49.74
Positive
43.86
Positive
39.06
Positive
Market Momentum
1.32
Positive
45.73
Neutral
25.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For E, the sentiment is Neutral. The current price of 52.25 is below the 20-day moving average (MA) of 55.14, above the 50-day MA of 49.74, and above the 200-day MA of 39.06, indicating a neutral trend. The MACD of 1.32 indicates Positive momentum. The RSI at 45.73 is Neutral, neither overbought nor oversold. The STOCH value of 25.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for E.
Eni SPA Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $134.36B | 3.80 | 27.02% | 14.10% | -2.43% | 171.38% | |
71 Outperform | $252.71B | 12.10 | 10.06% | 3.92% | -5.79% | 19.45% | |
66 Neutral | $101.71B | 12.11 | 3.44% | 7.43% | 3.95% | -38.27% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $82.35B | 16.84 | 5.20% | 5.41% | -3.06% | 9.20% | |
59 Neutral | $122.76B | 1,640.39 | 5.52% | 5.62% | 4.29% | ― |
* Energy Sector Average
E
Eni SPA
56.63
29.14
106.02%
BP
BP
47.38
21.04
79.85%
PBR
Petroleo Brasileiro SA- Petrobras
22.03
11.54
110.07%
SHEL
Shell
90.67
28.37
45.54%
EQNR
Equinor ASA
40.75
19.39
90.76%
TTE
TotalEnergies SE
92.71
39.49
74.19%
Eni SPA Corporate Events
Eni Expands Buyback, Treasury Stake Reaches 6.5% of Share Capital
Feb 18, 2026
During the week of 9–13 February 2026, Eni bought 2,220,844 of its own shares on Euronext Milan, equal to 0.07% of its share capital, at a weighted average price of €18.0112 per share, for a total outlay of about €40 million unde...
Eni Expands Buyback, Treasury Share Holding Rises to 6.43% After Early February Purchases
Feb 11, 2026
During the period from 2 to 6 February 2026, Eni S.p.A. repurchased 2,295,840 of its own shares on Euronext Milan, equal to 0.07% of its share capital, at a weighted average price of €17.4228 per share for a total outlay of about €40 m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.