Eni stock gained 0.67 percent on October 2 as Plenitude deal reshaped ownership

Published on 10/04/2026 at 14:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Eni stock gained 0.67 percent to EUR 24.19 on October 2, 2026, while its Plenitude deal valued the unit at EUR 10.75 billion. First-half adjusted EBIT reached EUR 8.9 billion.

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Eni stock (ISIN IT0003132476) was last at EUR 24.19 on Euronext Milan on October 2, 2026, at 5:36 p.m. CEST, up 0.67 percent from EUR 24.03. The move followed Eni's completion of a Plenitude ownership restructuring on October 1, 2026, which gives Eni and Ares joint control of the energy business.

Plenitude deal changes control

According to Eni on October 1, 2026, the transaction used a EUR 1.56 billion non-proportional capital increase. The deal implied a pre-money equity value of EUR 10.75 billion for Plenitude and left Eni with 65.03 percent, Ares with 26.24 percent and Energy Infrastructure Partners with 8.73 percent.

The new structure deconsolidates Plenitude from Eni's consolidated financial statements, although Eni retains legal control and continues to direct and coordinate the business. For investors, the key change is the combination of continued strategic influence with a different accounting treatment for the renewable and retail-energy unit.

First-half figures add operating support

Eni's investor materials show 1H 2026 pro forma adjusted EBIT of EUR 8.9 billion and adjusted net profit of EUR 3.6 billion. Operating cash flow before working-capital changes reached EUR 7.3 billion, while organic capital expenditure stood at EUR 3.7 billion.

The same update puts hydrocarbon production at 1.8 million boe per day and pro forma gearing before lease liabilities at 10 percent. Those figures frame the Plenitude transaction as part of a wider portfolio strategy rather than an isolated ownership change, with capital allocation and balance-sheet flexibility remaining central to the investment case.

Stock remains near yearly high

Eni stock traded between EUR 23.84 and EUR 24.41 on October 2, with volume of 6,997,539 shares. Its 52-week range was EUR 14.54 to EUR 25.02, leaving the last price 3.32 percent below the yearly high.

Market capitalization stood at EUR 70.1 billion on October 2, 2026. The next scheduled reporting date is October 23, 2026, when Eni's calendar lists third-quarter results and gives investors the next formal checkpoint for the effect of the new Plenitude structure.