Enel stock forecast: Full-year 2025 results

Enel is an Italian utility listed on Borsa Italiana, with its latest full-year results and Italy’s Energy Decree influencing the stock’s recent price movements. Past performance is not a reliable indicator of future results. Explore third-party ENEL price targets and technical analysis.

By Dan Mitchellan hour ago

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Enel S.p.A. (ENEL) is trading at €9.14 as of 12:45pm UTC on 24 March 2026, within an intraday range of €8.955–€9.305. Past performance is not a reliable indicator of future results.

Price action follows several converging developments. Enel reported 2025 ordinary EBITDA of €22.9 billion, in line with guidance, and Group net ordinary income of €7.0 billion, above guidance, though the post-results reaction has been tempered by investor debate over the year-on-year decline in net income (Enel, 19 March 2026). Italy's Energy Decree (Decreto Energia/Bollette), effective from 21 February 2026, introduced measures to contain wholesale electricity prices by reimbursing gas-fired plants for EU Emissions Trading System costs, creating uncertainty around merchant revenue exposure for utilities including Enel (DLA Piper, 9 March 2026). The ECB also held its deposit rate unchanged at 2% on 19 March 2026, while revising its 2026 headline inflation forecast up to 2.6% amid elevated energy prices, with markets now pricing in the possibility of rate increases later in the year (Morningstar, 19 March 2026).

Enel stock forecast 2026–2030: Third-party price targets

As of 24 March 2026, third-party Enel stock predictions span a wide range, shaped by the company's full-year 2025 results release on 19 March 2026, its ongoing €2 billion share buyback programme, and broader European utilities sector dynamics. The following briefs summarise individual broker actions and consensus data captured within that window.

Morgan Stanley (upgraded to Equalweight, target raised)

Morgan Stanley upgrades Enel to Equalweight from Underweight and raises its 12-month ENEL stock forecast to €10, representing a notable reversal from the bank's prior bearish stance. The firm cites an improved risk/reward profile following Enel's Capital Markets Day, with updated assumptions on earnings delivery and capital allocation underpinning the revised target (MarketScreener, 6 March 2026).

J.P. Morgan (Buy, target reaffirmed)

J.P. Morgan analyst Javier Garrido reaffirms a Buy rating on Enel with a 12-month price target of €9.70, following the group's full-year 2025 results. The bank maintains its constructive view in light of Enel's reported 2025 ordinary EBITDA of €22.9 billion and the announcement of a new €2 billion buyback, with the target reflecting earnings delivery expectations and balance-sheet positioning across European utilities (MarketScreener, 20 March 2026).

MarketScreener (broker consensus)

MarketScreener reports an average 12-month consensus price target of €9.89 for ENEL across 23 analysts, with a high estimate of €12 and a low of €8, carrying an Outperform mean consensus rating. The service attributes the wide spread to differing analyst assumptions on Enel's 2026–2028 capital expenditure execution, Italian regulatory risk under the Energy Decree, and its cash generation trajectory (MarketScreener, 23 March 2026).

Goldman Sachs (Buy, target raised to €12)

Goldman Sachs analyst Alberto Gandolfi raises the 12-month price target on Enel from €11.50 to €12 and maintains a Buy rating, making it the highest individual broker target in the current consensus. The bank's rationale centres on Enel's post-results cash generation trajectory and strategic plan execution, with the upgrade reflecting more constructive assumptions on earnings growth amid a more stable European energy policy environment (MarketScreener, 17 March 2026).

RBC Capital Markets (Sell, target maintained at €8)

RBC Capital Markets analyst Fernando Garcia reaffirms a Sell rating on Enel and holds the 12-month price target at €8, the most bearish published target in the current range. The bank's negative stance, maintained alongside Enel's results day, flags concerns about the stock's current valuation relative to the analyst's fundamental assessment, with the target sitting approximately 12.5% below the last price of €9.14 as of 24 March 2026 (MarketScreener, 20 March 2026).

Takeaway: across these sources, Enel stock predictions span €8 (RBC, Sell) to €12 (Goldman Sachs, Buy), with J.P. Morgan at €9.70 and the MarketScreener consensus midpoint near €9.89 marking the centre of the range. Enel's 2025 results delivery and 2026–2028 plan execution are the common threads driving estimate dispersion.

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 is trading at €9.14 as of 12:45pm UTC on 24 March 2026, sitting just below a dense moving-average shelf where the 20/50/100/200-day SMAs stack at roughly €9.59 / €9.42 / €9.15 / €8.59. Price is trading beneath the 10-to-50-day SMAs, all of which carry a sell signal, while the 100- and 200-day SMAs below current price return buy signals, leaving the stock caught between short-term overhead pressure and longer-term structural support.

The 14-day RSI reads 43.4, an upper-neutral to soft-neutral reading that reflects a lack of directional conviction, while the ADX at 14.2 sits marginally below the 15 threshold, confirming weak trend conditions and a range-bound backdrop. The Hull moving average (9) at €9.03 registers a buy signal, suggesting very near-term momentum has stabilised, though this still fits the broader picture of price consolidating rather than trending.

On the topside, the classic pivot at €9.77 is the first level to watch. A convincing daily close through that level would put the R1 resistance at €10.73 back in view, with R2 at €11.27 acting as a secondary reference if the first resistance level is cleared. The Ichimoku base line near €9.56 and the 20-day SMA at €9.59 form a compressed resistance band in the €9.56–€9.60 area that price would need to clear first.

On pullbacks, the 100-day SMA near €9.15 provides the most immediate support shelf, sitting close to current levels. A daily close below it would risk a move towards the classic pivot support at €9.23 (S1) and then the broader €8.27–€8.59 zone anchored by S2 and the 200-day SMA (TradingView, 24 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.p.A. (ENEL) was founded in 1962 as Italy's national electricity board, and its shares have traded on Borsa Italiana since the company's partial privatisation in 1999.

Over the two years to 24 March 2026, ENEL’s stock price touched a low of €5.83 on 9 April 2024, as rising European interest rates weighed on utility valuations and dividend-yield stocks fell out of favour. The stock then staged a sustained recovery through the second half of 2024, closing the year at €6.90 on 30 December 2024 – well above that April trough.

Momentum continued into 2025. ENEL dipped to €6.82 in early April 2025 amid a brief market sell-off, but recovered steadily through the summer and autumn, closing at €7.22 on 24 March 2025. The stock accelerated sharply into early 2026, reaching its two-year high of €10.25 on 27 February 2026, supported by Enel's Capital Markets Day commitments and a new share buyback announcement.

ENEL closed at €9.17 on 24 March 2026, which is approximately 30.5% up year to date and 27.0% up year on year.

Past performance is not a reliable indicator of future results.

Enel (ENEL): Capital.com analyst view

Enel's price performance over the past two years reflects a meaningful re-rating, with the stock climbing from a two-year low of €5.83 in April 2024 to a peak of €10.25 in late February 2026. That recovery has been supported by a combination of factors: a stabilising European interest-rate environment, Enel's €53 billion 2026–2028 strategic plan, a new share buyback programme, and full-year 2025 ordinary EBITDA of €22.9 billion in line with guidance. However, the subsequent pullback to around €9.14 as of 24 March 2026 illustrates that positive fundamentals do not insulate a stock from near-term selling pressure, and the wide broker target range – from €8 to €12 – reflects genuine disagreement about valuation at current levels.

Italy's Energy Decree introduces further complexity. While measures to contain wholesale electricity prices could reduce input-cost pressure for consumers, they also create uncertainty around Enel's merchant revenue exposure, which could weigh on earnings visibility. Equally, the ECB's decision to hold rates at 2% in March 2026 may support utility valuations relative to fixed income, though any upward revision later in the year could reverse that dynamic.

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.

Capital.com’s client sentiment for Enel CFDs

As of 24 March 2026, Capital.com client positioning in Enel CFDs is skewed: 96.4% long compared with 3.6% short, putting buyers ahead by 92.9 pp and placing sentiment firmly in heavy-buy, one-sided-long territory. This snapshot reflects open positions on Capital.com and can change.

Summary – Enel 2026

ENEL trades at €9.14 as of 12:45pm UTC on 24 March 2026, up 27.0% year on year and 30.5% year to date.
Short-term moving averages (the 10- to 50-day SMAs) all sit above current price, signalling overhead resistance, while the 100- and 200-day SMAs below provide structural support.
The 14-day RSI reads 43.4 in neutral territory, and the ADX at 14.2 confirms a weak, non-trending environment with no clear directional momentum.
Key drivers include Enel's 2025 ordinary EBITDA of €22.9 billion in line with guidance, a new €2 billion share buyback, and its €53 billion 2026–2028 strategic plan.
Italy's Energy Decree, effective from February 2026, introduces uncertainty around Enel's merchant revenue exposure by reimbursing gas-fired plants for EU emissions trading costs.
The ECB held its deposit rate at 2% in March 2026 while raising its inflation forecast, creating a mixed backdrop for European utility valuations.

Past performance is not a reliable indicator of future results.

FAQ

Who owns the most Enel stock?

Enel’s largest shareholder has historically been the Italian Ministry of Economy and Finance, reflecting the company’s origins as a state utility and its partial privatisation. That government stake gives Italy a significant level of influence over the business, even though Enel is a publicly listed company with a broad institutional and retail shareholder base. Share ownership can change over time, so investors usually check the latest regulatory filings or company disclosures for the most current breakdown.

What is the 5-year Enel share price forecast?

There is no single verified five-year ENEL stock forecast. Longer-term projections depend on factors such as electricity pricing, interest rates, regulation, capital expenditure, earnings delivery and broader sentiment towards European utilities. Analyst targets usually focus on the next 12 months rather than a full five-year period, and even those estimates vary widely. That means any long-term view should be treated as a scenario rather than a reliable prediction of where the share price will trade.

Is Enel a good stock to buy?

Whether Enel is a good stock to buy depends on an investor’s goals, time horizon and tolerance for risk. Some market participants may focus on its scale, regulated utility exposure and strategic plan, while others may pay closer attention to valuation, regulatory uncertainty and interest-rate sensitivity. The current broker target range also shows that views remain mixed. For that reason, Enel may appeal to some investors, but it will not necessarily suit every portfolio or strategy.

Could Enel stock go up or down?

Yes, Enel’s share price could move in either direction, as it remains sensitive to company-specific and macroeconomic factors. These include earnings performance, progress against its 2026–2028 strategy, developments in Italian energy policy, power price trends and changes in eurozone interest-rate expectations. Technical indicators in the current article also point to a market that is consolidating rather than trending strongly. That backdrop can leave the stock responsive to new information, whether positive or negative.

Should I invest in Enel stock?

Deciding whether to invest in Enel is a personal decision and depends on your financial circumstances, objectives and risk appetite. This article is for informational purposes only and does not provide investment advice or a recommendation. Before making any decision, investors often review the company’s financial performance, valuation, sector risks and regulatory backdrop, and consider how the position would fit within a diversified portfolio. Some may also choose to seek independent financial advice before investing.

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.