Naturgy stock gains 1.45 percent as upgraded guidance supports shares

Published on 10/04/2026 at 09:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Naturgy stock closed at EUR 29.44 on October 2, 2026, while first-half net income rose 6 percent to EUR 1.215 billion. The next results are due October 28.

Isometrische 3D-Grafik der Energie-Wertschöpfungskette von Förderplattform bis Stadt — Naturgy Energy Group S.A. (ES0116870314) deckt die Wertschöpfungskette ab, isometrisch von Förderplattform bis zum Stadtnetz, Illustration mit AI erstellt.

Naturgy stock (ISIN ES0116870314) closed at EUR 29.44 on the Madrid exchange on October 2, 2026, gaining 1.45 percent from the previous close of EUR 29.02. The move leaves the shares 2.00 percent below the 52-week high of EUR 30.04, while the company enters the next reporting checkpoint with upgraded 2026 targets.

First half delivers higher earnings

According to Expansion on September 22, 2026, Naturgy reported first-half 2026 net income of EUR 1.215 billion, up 6 percent from the same period in 2025. EBITDA reached EUR 2.975 billion, an increase of 5 percent year over year.

The earnings mix matters for the stock. Gas Networks EBITDA rose 6 percent to EUR 883 million in the first half, while renewable-generation EBITDA fell 3 percent to EUR 313 million, according to Yahoo Finance in its July 22, 2026 transcript.

Guidance moves above consensus

Naturgy raised its 2026 guidance to EBITDA above EUR 5.5 billion and net income above EUR 2.1 billion. Benzinga reported on September 9, 2026, that the company also projected net debt of EUR 13.0 billion at year-end and a minimum 2026 dividend of EUR 1.80 per share.

That combination gives investors two different signals. Earnings and guidance are moving higher, but the renewable segment's 3 percent decline shows that the integrated model still faces weaker power-price conditions in parts of the portfolio.

Next results set for October 28

Investing.com lists October 28, 2026, as Naturgy's next earnings date. Its average 12-month analyst target is EUR 30.682, which is 4.22 percent above the October 2 closing price of EUR 29.44.

The valuation debate therefore centers on execution: the stock is near its yearly high, while the company must convert higher regulated-activity earnings and upgraded guidance into sustained full-year delivery.