Enel Chile (NYSE:ENIC) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Enel Chile (NYSE:ENIC) from a hold rating to a buy rating in a report issued on Sunday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Enel Chile Trading Up 1.3%

ENIC opened at $3.85 on Friday. Enel Chile has a one year low of $2.67 and a one year high of $4.05. The business’s 50-day simple moving average is $3.82 and its 200-day simple moving average is $3.62.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.03). Enel Chile had a net margin of 1.75% and a return on equity of 1.23%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, analysts expect that Enel Chile will post 0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of Enel Chile by 599.7% in the first quarter. US Bancorp DE now owns 46,670 shares of the utilities provider’s stock valued at $153,000 after buying an additional 40,000 shares during the last quarter. Raiffeisen Bank International AG raised its stake in Enel Chile by 1.2% during the 1st quarter. Raiffeisen Bank International AG now owns 337,300 shares of the utilities provider’s stock valued at $1,116,000 after acquiring an additional 3,900 shares during the last quarter. Helikon Investments Ltd lifted its position in Enel Chile by 112.9% during the 1st quarter. Helikon Investments Ltd now owns 4,498,563 shares of the utilities provider’s stock worth $14,710,000 after acquiring an additional 2,385,840 shares during the period. Johnson Financial Group LLC acquired a new position in shares of Enel Chile in the first quarter valued at approximately $35,000. Finally, Invesco Ltd. raised its stake in shares of Enel Chile by 10.9% during the first quarter. Invesco Ltd. now owns 445,156 shares of the utilities provider’s stock worth $1,456,000 after purchasing an additional 43,648 shares during the last quarter. 3.20% of the stock is owned by hedge funds and other institutional investors.

About Enel Chile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.