Enel Chile S.A. (NYSE:ENIC) Sees Large Drop in Short Interest

Enel Chile S.A. (NYSE:ENIC) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 522,986 shares, a drop of 15.6% from the February 12th total of 619,511 shares. Based on an average trading volume of 645,025 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 645,025 shares, the days-to-cover ratio is currently 0.8 days.

Enel Chile Stock Up 1.5%

Shares of ENIC traded up $0.06 during trading hours on Monday, reaching $4.03. 13,120 shares of the company traded hands, compared to its average volume of 597,299. Enel Chile has a 1-year low of $2.85 and a 1-year high of $4.51. The stock’s fifty day moving average is $4.22 and its 200 day moving average is $3.96.

Enel Chile (NYSE:ENIC) last issued its quarterly earnings results on Tuesday, March 3rd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). Enel Chile had a net margin of 11.53% and a return on equity of 9.81%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $1.21 million. On average, equities research analysts expect that Enel Chile will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Enel Chile

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Enel Chile by 4.6% in the 1st quarter. Royal Bank of Canada now owns 438,287 shares of the utilities provider’s stock valued at $1,433,000 after buying an additional 19,092 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Enel Chile by 97.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 61,591 shares of the utilities provider’s stock valued at $201,000 after acquiring an additional 30,465 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Enel Chile in the first quarter valued at about $289,000. Jane Street Group LLC acquired a new position in Enel Chile in the first quarter worth about $131,000. Finally, Focus Partners Wealth lifted its stake in Enel Chile by 154.2% during the first quarter. Focus Partners Wealth now owns 36,979 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 22,434 shares during the period. Institutional investors and hedge funds own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ENIC. Morgan Stanley restated an “overweight” rating and set a $4.30 price target on shares of Enel Chile in a report on Friday, December 12th. Zacks Research raised Enel Chile to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a report on Wednesday, January 21st. Wall Street Zen upgraded Enel Chile from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Santander cut Enel Chile to a “neutral” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Enel Chile has a consensus rating of “Hold” and a consensus target price of $4.30.

Enel Chile Company Profile

Enel Chile SA, traded as ENIC on the NYSE, is one of Chile’s leading integrated electric utilities, with core businesses spanning electricity generation, transmission and distribution. The company serves a diverse customer base that includes residential, commercial and industrial users, striving to deliver reliable power across both urban and rural regions.

In its generation segment, Enel Chile operates a balanced portfolio of assets, including hydroelectric plants, thermal power stations and an expanding suite of renewable energy facilities such as wind and solar farms.