Naturgy stock trades 2.3 percent below its yearly high

Published on 09/25/2026 at 13:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Naturgy stock posted EUR 1.215 billion in H1 net income, up 5.9 percent from 2025. Management targets more than EUR 5.5 billion of 2026 EBITDA and EUR 2.1 billion of net income.

Gasterminal und Kraftwerk an der Küste bei Sonnenuntergang, Symbolbild Energieversorger — Naturgy Energy Group S.A. (ES0116870314) betreibt Gasterminals und Kraftwerksanlagen an der spanischen Küste bei Sonnenuntergang, Illustration mit AI erstellt.

Naturgy stock (ISIN ES0116870314) was trading at EUR 29.36 on BME on September 25, 2026, down EUR 0.14 or 0.47 percent from the previous close. The price stood 2.3 percent below its 52-week high of EUR 30.04, putting the utility near the upper end of its annual range.

Half-year earnings support guidance

According to Benzinga on September 9, 2026, Naturgy earned EUR 1.215 billion in the first half of 2026, up 5.9 percent from the same period of 2025. EBITDA reached EUR 2.975 billion, an increase of 4.5 percent, while net debt fell from EUR 12.317 billion at the end of 2025 to EUR 11.745 billion in June.

The company raised its 2026 targets on July 22 to more than EUR 5.5 billion of EBITDA and more than EUR 2.1 billion of net income. Those thresholds give the stock a measurable earnings checkpoint after the first-half result, although the full-year outcome will also depend on energy prices and project execution.

Dividend remains a key valuation factor

Naturgy maintains a minimum dividend target of EUR 1.80 per share for 2026 and EUR 1.90 for 2027, according to Benzinga. The policy is tied to maintaining a BBB credit rating, making leverage and cash generation important counterweights to the income appeal.

Bankinter raised its valuation of Naturgy from EUR 29.80 to EUR 32.30 per share in an analysis published on August 11, 2026, while keeping a buy recommendation, the same Benzinga report said. Relative to the September 25 price, that target is 10.0 percent higher, so the market valuation still leaves room for an analyst-defined upside case.

Renewables add an execution test

Naturgy also plans EUR 330 million of technology investment across six wind farms, as reported by MarketScreener on September 14, 2026. The investment links the dividend narrative to operational delivery, particularly as Naturgy expands renewable capacity while managing electricity-price exposure.

Stock remains near yearly high

Naturgy was trading at EUR 29.36 on BME on September 25, 2026, at 1:28 p.m. CEST. The session range was EUR 29.34 to EUR 29.62, volume was 143,369 shares, and market capitalization stood at EUR 27,198,917,006.