Enel stock forecast: H1 growth, Q3 results ahead

Enel is an Italian energy group. In September 2026, it asked Brazilian regulator Aneel to annul proceedings to revoke its São Paulo electricity distribution concession. Explore third-party ENEL targets and technicals. Past performance is not a reliable indicator of future results.

By Dan Mitchell09:30 (UTC), 6 October 2026 Updated

Enel stock forecast — Photo: Shutterstock.com

Enel S.p.A. (ENEL) last traded near €8.96 at 9:03am UTC on 9 September 2026, within an intraday range of €8.91–€8.99. Past performance is not a reliable indicator of future results.

Market attention remains on Enel's electricity distribution concession in São Paulo, Brazil, after the company asked regulator Aneel to annul proceedings aimed at revoking it, following the rejection of an earlier appeal in August 2026 (Reuters, 4 September 2026). The dispute adds company-specific uncertainty alongside euro-area interest-rate expectations, which can affect valuations across dividend-paying utilities (Ad-Hoc News, 8 September 2026).

Third-party Enel outlook: São Paulo concession dispute

As of 9 September 2026, third-party Enel stock predictions show a range of individual and consensus targets, shaped by first-half results, regulatory developments in Brazil and utility-sector valuations. These are third-party forecasts, not Capital.com recommendations.

Bernstein (individual target)

MarketScreener reports that Bernstein analyst Bartlomiej Kubicki raised his Enel price target to €9.80 from €9.30 while keeping a neutral rating. The revised target stood above the prevailing share price at publication (MarketScreener, 27 August 2026).

AlphaValue/Baader (individual target)

MarketScreener reports that AlphaValue/Baader Europe upgraded Enel to buy from add while trimming its price target to €12.60 from €12.70. Despite the small reduction, the target remains towards the upper end of those covered here (MarketScreener, 28 August 2026).

MarketBeat (consensus rating)

MarketBeat states that eight Wall Street analysts covering Enel SpA American depositary receipts assign a consensus rating of reduce, comprising two sell ratings, five holds and one buy. No blended price target accompanies the breakdown (MarketBeat, 31 August 2026).

MarketScreener (consensus overview)

MarketScreener shows an average 12-month target of €10.27 from 23 analysts, with estimates ranging from €8.80–€12 and a mean consensus rating of outperform. The range reflects differing assumptions around regulation and earnings heading into the fourth quarter of 2026 (MarketScreener, 3 September 2026).

Investing.com (consensus overview)

Investing.com also shows an average 12-month target of €10.27, with estimates of €8.80–€12 and an aggregated buy rating based on 10 buys, 11 holds and two sells. The average stood above the prevailing share price, although future company and market developments could change the outlook (Investing.com, 8 September 2026).

Takeaway: targets published during this period range from €8.80–€12.60, with two consensus providers averaging €10.27. Ratings range from reduce and neutral to buy and outperform, illustrating the differences between analyst assumptions on regulatory risk and earnings growth.

Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.

Enel S.p.A. latest and upcoming earnings

Enel's latest published results cover the first half of 2026. Revenue rose 0.3% year on year to €40.92bn, while ordinary EBITDA increased 3.2% to €11.84bn, with growth in Spain and Latin America offsetting lower margins in Italy. Group net ordinary income rose 2.8% to €3.93bn, while ordinary earnings per share increased to €0.40 from €0.38. Net financial debt reached €61.01bn at 30 June, up from €57.18bn at the end of 2025 (Enel S.p.A., 30 July 2026).

Enel maintained its full-year guidance for group ordinary EBITDA of €23.1bn–€23.6bn, group net ordinary income of €7.1bn–€7.3bn and ordinary EPS of around €0.74, at the upper end of its previously communicated range. Stronger earnings or delivery against guidance could support sentiment, while weaker performance, higher debt or rising costs could weigh on it (Enel S.p.A., 30 July 2026).

Enel's financial calendar schedules its third-quarter results for 12 November 2026, covering the period to 30 September (Enel S.p.A., 19 December 2025).

ENEL stock price: technical overview

As of 9:03am UTC on 9 September 2026, the ENEL stock price trades at €8.96, below its 20-, 50-, 100- and 200-day simple moving averages (SMAs) at roughly €9.33, €9.73, €9.75 and €9.52 respectively, according to TradingView. The 14-day RSI sits near 26, below the commonly watched 30 level, while the 14-day ADX above 39 indicates relatively strong directional movement.

The nearest classic pivot above the latest price sits at €9.91, followed by €10.40. TradingView also lists reference levels at €9.61 and €9.52, with the S1 pivot at €9.12.

A move through higher reference levels could shift attention upwards, while continued trading below them could keep lower levels in focus. These technical levels are reference points rather than predictions (TradingView, 9 September 2026).

This is technical analysis for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any instrument.

Enel share price history (2024–2026)

ENEL’s stock price traded around €7.11 in September 2024 before moving lower and reaching a two-year low of €6.54 on 6 March 2025.

The stock then recovered, ending 2025 at €8.88 before reaching a two-year high of €10.33 on 27 February 2026. A pullback followed in March, with shares briefly falling to €8.97 before recovering through the summer.

More recently, Enel retreated from August highs near €9.70 as attention turned to its São Paulo concession dispute. Shares closed at €8.96 on 9 September 2026, around 0.9% higher year to date and 14.7% higher year on year, but 13.3% below the February two-year high.

Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.

Enel (ENEL): Capital.com analyst view

Enel's first-half earnings growth and the group's 2026-2028 strategic plan may support sentiment (Enel S.p.A., 23 February 2026), while uncertainty surrounding its São Paulo distribution concession (Reuters, 4 September 2026) and higher net debt, which rose to €61,011 million at 30 June 2026 from €57,182 million at the end of 2025 (Enel S.p.A., 30 July 2026), provide potential counterweights.

The wider interest-rate backdrop also matters for utility valuations. Lower rate expectations may make dividend-paying shares relatively more attractive, while higher rates can increase financing costs and competition from interest-bearing assets. For Enel specifically, a favourable concession outcome could reduce uncertainty, while further regulatory challenges could weigh on sentiment.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Past performance is not a reliable indicator of future results.

Summary – Enel 2026

As of 9:03am UTC on 9 September 2026, Enel traded near €8.96, within an intraday range of €8.91–€8.99.
According to TradingView data, the share price was below its 20-, 50-, 100- and 200-day moving averages, with RSI near 26 and ADX above 39.
Key factors include Enel's São Paulo distribution concession dispute, first-half earnings growth and euro-area interest-rate expectations.

Past performance is not a reliable indicator of future results.

FAQ

Who owns the most Enel S.p.A. stock?

This article does not identify Enel's largest shareholder or provide a breakdown of its ownership structure. Instead, it focuses on recent share-price performance, earnings, analyst forecasts and the regulatory dispute surrounding the company's São Paulo distribution concession. Ownership can change over time as institutional and other investors adjust their holdings, so current shareholder disclosures should be checked separately when assessing Enel's ownership structure.

What is the five-year Enel S.p.A. share price forecast?

The article does not provide a five-year ENEL stock forecast. The third-party estimates covered here focus mainly on 12-month targets, ranging from €8.80–€12.60, with two consensus providers averaging €10.27. Longer-term forecasts carry additional uncertainty because earnings, interest rates, regulation and company strategy can change substantially over several years. These projections should therefore be viewed as scenarios rather than reliable indications of Enel's future share price.

Is Enel S.p.A. a good stock to buy?

This article does not classify Enel as a good or bad stock to buy. First-half earnings growth and the company's 2026–2028 strategic plan may support sentiment, while higher net debt and uncertainty surrounding its São Paulo concession present potential risks. Third-party analyst views also vary from reduce and neutral to buy and outperform. These factors provide context for the stock but do not amount to a recommendation or determine its future performance.

Could Enel S.p.A. stock go up or down?

Yes. Enel shares can move in either direction as company-specific and wider market conditions change. Stronger earnings, delivery against guidance, lower interest-rate expectations or a favourable outcome for the São Paulo concession could support sentiment. Conversely, weaker results, higher financing costs, rising debt or further regulatory uncertainty could weigh on the shares. Technical levels may also influence short-term trading activity, but they are reference points rather than predictions of future price movements.

Should I invest in Enel S.p.A. stock?

Whether Enel shares are appropriate for you depends on your circumstances, objectives and tolerance for risk, and this article does not provide investment advice or a personal recommendation. Investors may consider factors including Enel's earnings, debt, strategic plans, regulatory exposure and sensitivity to interest rates. Each can affect the share price positively or negatively, while unexpected developments can change the outlook. Past or simulated performance is not a reliable indicator of future results.

Can I trade Enel S.p.A. CFDs on Capital.com?

Yes, you can trade Enel CFDs on Capital.com. Trading share CFDs lets you speculate on price movements without owning the underlying asset and to take long or short positions. However, contracts for difference (CFDs) are traded on margin, and leverage amplifies both profits and losses. You should ensure you understand how CFD trading works, assess your risk tolerance, and recognise that losses can occur quickly.