Goldman removes Naturgy from its list. Naturgy stock gains 1.34 percent.

Published on 10/02/2026 at 15:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net income rose 5.90 percent to EUR 1,215.0 million. Naturgy stock trades at EUR 29.44 on October 2, 2026 versus EUR 29.05, plus 1.34 percent.

Aquarellmalerei der Madrider Skyline mit modernem Bürohochhaus bei Abenddämmerung — Naturgy Energy Group S.A. (ES0116870314) hat ihren Firmensitz in Madrid, hier künstlerisch als warmes Aquarell, Illustration mit AI erstellt.

Naturgy Energy Group (ISIN ES0116870314) was trading at EUR 29.44 at Lang & Schwarz on October 2, 2026 at 3:41 p.m. CEST, up 1.34 percent versus the prior close of EUR 29.05. As Yahoo Finance reported on October 1, 2026, Goldman Sachs removed Naturgy from its October European Conviction List.

Goldman move meets stronger guidance

The list change came after Naturgy's first-half results and does not represent a change to the broker's underlying investment rating, according to Yahoo Finance. The market signal is therefore mixed: Goldman removed the name from a preferred-stock list, while the company enters the second half with higher financial targets.

According to Benzinga on September 9, 2026, Naturgy reported first-half 2026 net income of EUR 1,215.0 million, up 5.90 percent from the same period of 2025. EBITDA reached EUR 2,975.0 million, 4.50 percent above the prior-year period, while net debt fell from EUR 12,317.0 million at the end of 2025 to EUR 11,745.0 million in June.

RBC target reaches EUR 32.00

RBC Capital Markets raised its Naturgy price target from EUR 31.50 to EUR 32.00 while keeping an overweight recommendation, El Espanol reported on September 2, 2026. The new target lies 8.69 percent above the Lang & Schwarz price of EUR 29.44, calculated from the two euro-denominated values.

Naturgy's upgraded 2026 targets include more than EUR 5,500.0 million of EBITDA and more than EUR 2,100.0 million of net income, according to Benzinga. Those thresholds compare with first-half EBITDA of EUR 2,975.0 million and net income of EUR 1,215.0 million, making delivery in the second half the central operating test.

Stock remains near its yearly high

Naturgy's EUR 29.44 reference price stands EUR 0.60 below its 52-week high of EUR 30.04 and EUR 5.14 above its 52-week low of EUR 24.30, based on October 2, 2026 market data. The company's market capitalization was EUR 27.3 billion on the same date, and the next earnings report is scheduled for October 28, 2026.

Price and investor perspective

Naturgy was trading at EUR 29.44 at Lang & Schwarz on October 2, 2026 at 3:41 p.m. CEST, plus 1.34 percent versus the Lang & Schwarz prior close of EUR 29.05 on October 1, 2026. Its primary listing is on BME in Madrid, where the ticker is NTGY and the company is a member of the IBEX 35. The further course of trading is shown by the continuously updated real-time quote of Naturgy stock.