Italgas stock gets a 22.5 percent Floene stake deal
Published on 10/04/2026 at 20:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Italgas stock (ISIN IT0005211237) was last at EUR 8.26 on Borsa Italiana on October 2, 2026 at 5:35 p.m. CEST, up 0.22 percent from the prior close. On the same date, Italgas announced a binding agreement to acquire a 22.5 percent stake in Portugal's Floene for an equity value of EUR 120 million.
Portugal adds a new growth market
Italgas will acquire 100 percent of Meet Europe Natural Gas, the company holding the Floene stake, from Marubeni Corporation and Toho Gas Co. Ltd. The transaction would give Italgas joint control of Floene and expand its distribution footprint beyond Italy and Greece.
Floene operates Portugal's leading gas distribution network, covering 14,000 kilometers and serving 1.1 million customers, according to Euronext Live. Regulatory approvals remain a condition for completion, keeping execution and the contribution from Portugal central to the investment case.
H1 earnings show higher operating scale
Italgas reported adjusted revenue of EUR 1.09 billion for the first half of 2026, up 17.5 percent year over year, while adjusted EBITDA increased 25 percent to EUR 1.072 billion, according to Investing.com. Adjusted net profit rose 27.3 percent to EUR 398.6 million, and operating cash flow reached EUR 930 million in the same period.
The figures matter because the Floene transaction is part of an acquisition-led strategy rather than a standalone asset purchase. Italgas also reported that 42 percent of its EUR 280 million synergy target for 2032 had been achieved, with EUR 130 million targeted by the end of 2026.
Analysts balance growth and regulation
The October 3, 2026 market page from Investing.com lists 15 analysts, a Buy consensus, an average 12-month price target of EUR 10.667, a high target of EUR 11.70 and a low target of EUR 9.80. The range shows that analysts broadly see value above the October 2 market price, while their target dispersion leaves room for differing views on regulation and execution.
UBS kept a Buy rating but cut its price target from EUR 11.00 to EUR 10.60 on September 15, 2026, citing the proposed ARERA framework for gas distribution from 2028, as reported by MarketScreener. The regulatory framework is therefore the main counterweight to faster earnings growth from acquisitions and operating synergies.
Italgas stock stays below its yearly high
Italgas stock had a market capitalization of EUR 8.4 billion and traded within a 52-week range of EUR 7.80 to EUR 11.30 on October 2, 2026. The EUR 8.26 last price was EUR 3.04 below the yearly high, leaving the stock closer to the lower end of its annual range than to its peak.
Italgas lists October 29, 2026, for the presentation of its third-quarter results on its investor-relations page. That date will give investors the next reported checkpoint on integration, cash flow and the Floene transaction.
Italgas stock and the October 2 price
Italgas stock was last at EUR 8.26 on Borsa Italiana on October 2, 2026 at 5:35 p.m. CEST, with volume of 1,965,555 shares and a daily gain of 0.22 percent.
Italgas stock facts
- Company: Italgas S.p.A.
- ISIN: IT0005211237
- Ticker: IG
- Trading venue: Borsa Italiana
- Price as of October 2, 2026, 5:35 p.m. CEST: EUR 8.26
- Market capitalization: EUR 8.4 billion (as of October 2, 2026)
- 52-week range: EUR 7.80-11.30 (as of October 2, 2026)
- Sector / Industry: Utilities / Natural Gas Distribution
Upcoming dates for Italgas stock
- October 29, 2026: Presentation of third-quarter results
