Enel Chile (NYSE:ENIC) Now Covered by Bank of America

Key Points

• Bank of America initiated coverage of Enel Chile with a “neutral” rating.
• Analyst sentiment is generally cautious: the stock has a consensus “Hold” rating and an average price target of $4.65, compared with its $4.42 opening price.
• Enel Chile reported quarterly EPS of $0.08 on $1.07 billion in revenue, while institutional investors hold approximately 3.2% of the company’s shares.

Bank of America initiated coverage on shares of Enel Chile (NYSE:ENIC - Get Free Report) in a note issued to investors on Thursday, Briefing.com reports. The firm set a "neutral" rating on the utilities provider's stock.

ENIC has been the topic of several other research reports. Itau BBA Securities cut Enel Chile to a "market perform" rating in a report on Friday, July 10th. Weiss Ratings reissued a "hold (c)" rating on shares of Enel Chile in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.65.

Enel Chile Stock Down 0.3%

ENIC stock opened at $4.42 on Thursday. The stock has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $4.38. Enel Chile has a twelve month low of $3.62 and a twelve month high of $4.74. The firm has a market capitalization of $6.11 billion, a PE ratio of 10.51 and a beta of 1.02.

Enel Chile (NYSE:ENIC - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $1.07 billion for the quarter. Enel Chile had a net margin of 12.30% and a return on equity of 10.20%. On average, equities research analysts anticipate that Enel Chile will post 0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENIC. Eastern Bank purchased a new stake in Enel Chile during the second quarter valued at about $33,000. Allspring Global Investments Holdings LLC bought a new stake in Enel Chile during the first quarter worth about $41,000. Sanctuary Advisors LLC purchased a new position in shares of Enel Chile in the 1st quarter worth about $43,000. SmartHarvest Portfolios LLC bought a new position in shares of Enel Chile during the 1st quarter valued at about $43,000. Finally, OneAscent Investment Solutions LLC purchased a new position in shares of Enel Chile during the 2nd quarter valued at about $65,000. 3.20% of the stock is currently owned by hedge funds and other institutional investors.

Enel Chile Company Profile

Enel Chile SA is an electric utility company that operates across the Chilean energy sector. The company is part of the Enel Group and is headquartered in Santiago, Chile. Its American depositary receipts trade on the New York Stock Exchange under the symbol ENIC.

Enel Chile's activities include electricity generation, transmission-related operations and power distribution. Its generation portfolio includes renewable and conventional technologies, such as hydroelectric, solar, wind and thermal power.

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