Enel stock forecast: €53bn 2026–2028 plan
Enel is an Italian integrated utility listed on Borsa Italiana; its shares reflect the €53bn 2026–2028 Strategic Plan and Italy’s February 2026 Energy Decree. Past performance is not a reliable indicator of future results. Explore third-party ENEL price targets and technical analysis.
Enel S.p.A. (ENEL) is trading at €9.625 as of 10:41am UTC on 5 March 2026, within an intraday range of €9.52–€9.655 on Capital.com's quote feed, trading toward the upper end of the session band after European equities came under pressure earlier in the week. Past performance is not a reliable indicator of future results.
Price action comes amid several converging drivers. Enel's newly unveiled 2026–2028 Strategic Plan, presented at its Capital Markets Day on 23 February 2026, committed €53 billion in total gross capital expenditure, up €10 billion on the prior three-year programme, with the company targeting earnings per share of €0.80–€0.82 by 2028 and a dividend compound annual growth rate of around 6% (Enel, 23 February 2026). The stock also trades against the backdrop of Italy's Energy Decree, approved in February 2026, which strips carbon costs from power bills, a policy change Bloomberg reported sent Italian year-ahead power prices down nearly 15% in the month and raised margin-compression concerns for integrated utilities, including Enel (Bloomberg, 18 February 2026). More broadly, European utility stocks fell 4.4% on 3 March 2026 as markets sold off amid escalating Middle East conflict and a more cautious rate outlook, according to CNBC (CNBC, 3 March 2026). Enel's on-market share buyback programme, with purchases reported through late February 2026, has provided an additional technical reference point (Enel, 3 March 2026).
Enel stock forecast 2026–2030: Third-party price targets
As of 5 March 2026, third-party Enel stock predictions reflects a broadly constructive – though not uniformly positive – set of views from broker and consensus sources, shaped by the company's 2025 earnings delivery, its 2026–2028 Strategic Plan and the evolving European utilities regulatory environment. Analyst targets can change, and they don’t guarantee future outcomes.
Simply Wall St (valuation and consensus snapshot)
Simply Wall St reports a consensus price target of €8.49 for Enel, while noting that a discounted cash-flow model places fair value closer to €9.42 per share, a figure fractionally above Enel's closing price at that time. The analysis attributes the spread between the DCF-derived estimate and the broker consensus to differing assumptions on future earnings growth, profit margins and risk factors, with the most optimistic individual target at €10 and the most cautious at €7.60 (Yahoo Finance, 19 February 2026).
Zacks (consensus rating upgrade)
Zacks upgrades Enel's US-listed line (ENLAY) to a Rank 2 (Buy), citing a 2.4% upward revision in the Zacks Consensus Estimate for fiscal year-end December 2025 earnings over the preceding three months. The upgrade reflects a shift in analyst expectations around the company's earnings trajectory, with the service linking the revision momentum to Enel's updated operational guidance and international segment performance (Yahoo Finance, 18 February 2026).
MarketScreener (broker consensus)
MarketScreener's ENEL consensus shows an average 12-month price target of €9.42 across contributing analysts, with individual estimates ranging from a low of €7.60 to a high of €10 and an overall Buy/Outperform skew on aggregate recommendations. The service links the blended target to expectations around Enel's earnings delivery, cost control and execution of its €53 billion capital expenditure programme through 2028 (MarketScreener, 23 February 2026).
Investing.com (consensus estimates)
Investing.com reports an average 12-month price target of €9.68 for Enel, with a high estimate of €11.50 and a low of €8 across 23 contributing analysts, alongside a Moderate Buy consensus rating. The platform attributes the range to differing analyst views on Enel's profitability trajectory, balance-sheet leverage and the regulatory backdrop for European integrated utilities (Investing.com, 5 March 2026).
MarketBeat (broker sentiment overview)
MarketBeat aggregates nine broker ratings – one Buy, six Hold and two Sell – yielding an overall consensus of Reduce, following recent downgrades from RBC, Morgan Stanley and Sanford C. Bernstein. The service notes that the divergence in analyst views reflects concerns over Enel's leverage profile (debt-to-equity of 1.17) and tighter liquidity metrics, set against Barclays' reiterated Overweight stance and Citigroup's unchanged Neutral (MarketBeat, 27 February 2026).
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 stock price: Technical overview
The ENEL stock price trades at €9.625 as of 10:41am UTC on 5 March 2026, sitting above its 20/50/100/200-day SMAs at roughly €9.57 / €9.31 / €9.03 / €8.49, with the 20-over-50 alignment intact across the full MA stack, keeping the medium-term trend broadly constructive. The 10-day SMA at €9.76 sits fractionally above the last price, meaning the stock is pressing up against its nearest short-term average rather than trading freely above it.
Momentum is broadly neutral-to-positive: the 14-day RSI reads 53.1, placing it in upper-neutral territory without signalling overextension, while ADX(14) at 19.7 indicates a trend that is present but not yet firmly established.
On the topside, the classic R1 pivot at €10.73 is the first meaningful reference; a daily close through that level would put the R2 zone near €11.27 in view. The round €10 figure sits between the last price and R1 and may act as an intervening reference given the density of activity near prior highs.
On pullbacks, the classic pivot (P) at €9.77 offers initial support, sitting just above the current last price and reinforcing the near-term floor. Below there, the 50-day SMA shelf near €9.31 is the next material level to watch; losing that shelf on a closing basis would increase the probability of a deeper move toward the S1 pivot at €9.23, and further toward the 100-day SMA near €9.03 if selling pressure extends (TradingView, 5 March 2026).
This is technical analysis for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.
Enel share price history (2024–2026)
ENEL’s stock price opened March 2024 trading around €6.12 and spent much of the spring under pressure, sliding to a two-year low of €5.70 on 11 April 2024 amid a broader European equity pullback.
The stock recovered steadily through the second half of 2024, climbing from the mid-€6 range in summer to close the year at €6.90 on 30 December 2024 – a gain of roughly 12.5% from the April trough. That recovery reflected improving sentiment around European utilities and Enel's own earnings trajectory heading into 2025.
2025 began with ENEL holding just above €7 before slipping back to the mid-€6 range through February and early March, touching a soft patch near €6.67 on 6 March 2025. A gradual recovery then took hold: the stock pushed through €8 by late August 2025 and extended that move through the autumn, closing at €9.11 on 17 November 2025.
The sharpest leg higher came in early 2026. ENEL crossed €9 in January 2026 and surged toward a two-year high of €10.33 on 27 February 2026, buoyed by the company's Capital Markets Day and 2026–2028 Strategic Plan announcement. A pullback followed into early March, with the stock trading at €9.655 on 5 March 2026 – approximately 39.8% above its April 2024 low and around 28.6% up year-on-year from its close of €7.505 on 5 March 2025.
Past performance is not a reliable indicator of future results.
Enel (ENEL): Capital.com analyst view
Enel's share price has trended higher over the past two years, moving from the mid-€5 range in spring 2024 to trade near €9.63 in early March 2026, supported by improved sector sentiment across European utilities, a healthier balance sheet following Enel's divestment programme, and a preliminary 2025 ordinary EBITDA of €22.9 billion broadly in line with guidance. The February 2026 announcement of a €53 billion capital expenditure plan through 2028, targeting EPS growth toward €0.80–€0.82 by end-2028 and a net debt/EBITDA ratio of approximately 3.0x, added a near-term catalyst; however, the planned leverage increase introduces execution risk, particularly if power demand, project timelines or funding costs shift in an unfavourable direction.
On the regulatory side, Italy's Energy Decree, which strips carbon costs from power bills, illustrates how policy decisions can act as a headwind for earnings, even as broader electrification trends could support long-term demand for Enel's networks and renewables capacity. Broker opinion remains divided, with 10 buy ratings, 10 holds and 3 sells across 23 contributing analysts as of early March 2026, reflecting genuine uncertainty about whether Enel's current valuation already prices in the strategic plan's upside or leaves room for further re-rating.
Capital.com’s client sentiment for Enel CFDs
As of 5 March 2026, Capital.com client positioning in Enel CFDs is skewed toward longs, with buyers at 96% versus sellers at 4%, putting buyers ahead by 92 percentage points and placing sentiment firmly in one-sided territory toward longs. This snapshot reflects open positions on Capital.com and can change.
Summary – Enel 2026
- Enel (ENEL) trades at €9.625 as of 10:41am UTC on 5 March 2026, up sharply from a two-year low of around €5.70 in April 2024.
- Price has pulled back from a recent two-year high of €10.33 on 27 February 2026, following a strong post-Capital Markets Day rally through February.
- Technical indicators show ENEL trading above its 20/50/100/200-day SMA stack, with a 20-over-50 bull alignment intact; RSI sits at 53.1, in neutral territory.
- Classic pivot support sits at €9.77, with the 50-day SMA near €9.31 as the next key level to watch on any sustained pullback.
- Key price drivers include Enel's €53 billion 2026–2028 Strategic Plan, preliminary 2025 EBITDA of €22.9 billion, and ongoing on-market share buybacks.
- Italy's Energy Decree stripping carbon costs from power bills introduces a potential earnings headwind, as Italian year-ahead power prices fell sharply following the announcement.
Past performance is not a reliable indicator of future results.
FAQ
Who owns the most Enel stock?
Enel’s largest shareholder is the Italian state, primarily through the Ministry of Economy and Finance, with an additional indirect stake held via Cassa Depositi e Prestiti (CDP). The remainder is largely free float, held across institutional investors (such as funds, insurers and pension funds) and retail shareholders. Ownership percentages can change over time as positions are adjusted, and different sources may present figures on slightly different dates.
What is the 5 year Enel share price forecast?
A single, widely accepted five-year ENEL stock forecast is hard to pin down because most publicly available analyst coverage focuses on 12-month targets rather than multi-year price levels. Longer-range projections tend to rely on scenario assumptions (for example, power prices, regulation, interest rates and execution of Enel’s 2026–2028 plan), so outcomes can vary materially. If you see five-year figures, treat them as illustrative rather than predictive.
Is Enel a good stock to buy?
Whether Enel is 'good' depends on your objectives, time horizon and risk tolerance, and this article can’t tell you what to buy. A practical approach is to weigh the potential positives highlighted by analysts (such as plan execution and cash-return policy) against key risks discussed here, including regulatory changes and power-market dynamics. If you’re considering CFDs, remember leverage can magnify both gains and losses.
Could Enel stock go up or down?
Yes. Enel’s share price can move in either direction, and it may react to company-specific updates (strategy delivery, earnings, buybacks) as well as external drivers such as interest-rate expectations, Italian and EU energy policy, and wholesale power-price shifts. Technical levels may also influence short-term trading behaviour, but they don’t remove uncertainty. With CFDs, price moves matter more because leverage can amplify the impact on returns.
Should I invest in Enel stock?
This article provides information, not financial advice, so it can’t say whether you should invest. If you’re assessing Enel, you could review how the investment fits your diversification, liquidity needs and risk limits, then compare the stock’s risk drivers (for example, regulation and leverage) with your tolerance for volatility. For CFD traders, it’s also worth factoring in leverage risk, potential overnight costs and stop-loss discipline.
Can I trade Enel 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.