$ENI (+0.88%)
Quick take: Eni’s Q3 results released today appear to be clearly positive.

EBIT, net income, production, cash flow, and debt, in particular, are showing strong performance. However, following the rise in its share price, the stock is no longer clearly undervalued, and there is no full analyst consensus.

Key Financial Metrics

• Adjusted EBIT: approx. €6.0 billion
• → roughly double the previous year’s figure and about 12% higher than the previous quarter.
• Adjusted net income: approx. €2.8 billion
• → more than double the previous year’s figure.
• Operating cash flow before working capital:
  €4.29 billion
• Oil and gas production:
  1.83 million barrels of oil equivalent per day
• → approximately 7% higher than in the previous year.
• Net debt:
  €6.7 billion
• Pro forma gearing: only 9%

Outlook and Return to Shareholders

Eni now expects the following for 2026:

This points to a strong balance sheet and a high capacity for dividend payouts. At the same time, earnings remain heavily dependent on oil and gas prices, refining margins, and exchange rates.

• Cash flow:
  €16.5 billion
• Production growth:
  6–7%
• Gross capital expenditures: approximately 7 billion euros
• Share buybacks: to €3.8 billion increased
• Ordinary dividend:
  €1.10 per share
• In addition, a extraordinary dividend of 0.46 € per share is planned.

Hey there, neighbors!

To be honest, I sometimes think dividends are a bit overhyped, but it’s still nice to get one every now and then...

What do you guys think about dividend stocks?

Hi everyone, I'm rebalancing my portfolio and adding new assets. Is this a good strategy for a medium- to long-term investment? The goal is to generate returns without compromising too much on capital preservation.

Any suggestions?

$$CSPX (-1.13%)
$UNH (-1.54%)
$SGBS (-3.42%)
$EXSA (-0.63%)
$EIMI (-1.93%)
$ENI (+0.88%)
$BTC (+0.59%)
$GLGG (+0.24%)
$ASWC (-2.25%)
$BTEC (+0.02%)
$ETFMIB (-1.09%)
$EUDF (-1.04%)
$PGR (-0.02%)
$Salesforce

At the end of the game I liquidated $ENI (+0.88%) and in these 2 months I made €186 gross from it, almost a 10%, for me it was the first time I "traded" going to take advantage of the news to predict the market trend, I got some things wrong but I understood others, the news is all too unpredictable so if you want to make a short duration buy, better not to be greedy, in the end it's all extra money that you basically didn't plan to get, so it's all gained, in the first Eni trade I told myself to come out with a +10% but when I got to that percentage I wanted more and ended up selling for less (a 5-6% gain).

After the first sale of Eni I had placed in the portfolio $STLAM (-1.32%) e $NWL (-0.46%) , after the second trade of Eni I brokered Newlat (which is actually called Newprinces now) which had fallen in the meantime and added $BMPS (-1.19%) .

For the month of May, on the other hand, my new entry was . $TRN (+0.9%) , I had been watching it since the beginning of the year and I always put off buying it and ended up watching a continuously rising price, so what to do? Nothing, I made my first entry and if it goes down there is no problem, in fact maybe, you go and buy again, welcome Terna.

What movements did you guys make in May?

Hi, for this month given the situation in the Middle East I thought to make a short entry in the oil&gas sector, and so on 03/16/26 I bought $ENI (+0.88%) , I don't intend to hold it for long, also because as you can see I bought it at too high a price, I decided to enter anyway since as long as the tension is high then the stock will have good support with the barrel now at almost $120, the current idea is to get to March 23, withdraw the dividend and sell taking home a 5-7% and then liquidate 90/95% of the position and move to a stock that has suffered from the outbreak of war.

This was the first time when emotionality played a decisive role in this purchase; in the next post I will discuss the reason for this late entry.

How did you guys go about this month? What did you sell or buy?