Enel Chile S.A. (NYSE:ENIC) Sees Significant Growth in Short Interest

Enel Chile S.A. (NYSE:ENIC) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 633,063 shares, an increase of 21.0% from the February 26th total of 522,986 shares. Based on an average trading volume of 522,791 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Trading of Enel Chile

A number of institutional investors and hedge funds have recently modified their holdings of the company. Banco BTG Pactual S.A. acquired a new stake in shares of Enel Chile in the 2nd quarter valued at $4,389,000. Wellington Management Group LLP lifted its holdings in Enel Chile by 48.4% during the 4th quarter. Wellington Management Group LLP now owns 2,042,904 shares of the utilities provider’s stock valued at $8,212,000 after purchasing an additional 666,544 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Enel Chile in the fourth quarter valued at about $2,629,000. Jump Financial LLC grew its stake in Enel Chile by 5,592.9% during the second quarter. Jump Financial LLC now owns 584,202 shares of the utilities provider’s stock worth $2,121,000 after buying an additional 573,940 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Enel Chile during the third quarter worth approximately $1,408,000. 3.20% of the stock is currently owned by institutional investors.

Enel Chile Stock Up 3.0%

Enel Chile stock traded up $0.12 during mid-day trading on Tuesday, reaching $3.94. The company had a trading volume of 772,490 shares, compared to its average volume of 597,765. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 9.84 and a beta of 0.98. The company has a 50 day moving average of $4.15 and a 200-day moving average of $3.99. Enel Chile has a 52 week low of $2.85 and a 52 week high of $4.51.

Enel Chile (NYSE:ENIC) last posted its quarterly earnings data on Saturday, February 14th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. Enel Chile had a net margin of 11.53% and a return on equity of 9.81%. The company had revenue of $1.18 billion for the quarter. On average, analysts predict that Enel Chile will post 0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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