Enel Chile S.A. (NYSE:ENIC) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Enel Chile has a consensus “Hold” rating from seven analysts: five recommend holding, one recommends buying, and one issues a strong-buy rating. The average 12-month price target is $4.65.
• ENIC opened at $4.26, down 1.7%, with a market capitalization of approximately $5.90 billion. Its shares have traded between $3.62 and $4.74 over the past year.
• Institutional ownership remains limited at 3.2%, although several investors recently initiated positions and First Trust increased its stake by 46%. Enel Chile reported quarterly revenue of $1.07 billion and earnings of $0.08 per share.

Enel Chile S.A. (NYSE:ENIC - Get Free Report) has been assigned a consensus rating of "Hold" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.65.

A number of research firms have recently issued reports on ENIC. Bank of America started coverage on Enel Chile in a report on Thursday, October 15th. They issued a "neutral" rating for the company. Itau BBA Securities downgraded Enel Chile to a "market perform" rating in a research report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Enel Chile in a research note on Thursday, October 15th.

Institutional Investors Weigh In On Enel Chile

Several institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank bought a new position in Enel Chile in the 2nd quarter worth about $33,000. Allspring Global Investments Holdings LLC bought a new stake in Enel Chile during the first quarter valued at about $41,000. Sanctuary Advisors LLC bought a new stake in shares of Enel Chile during the 1st quarter valued at $43,000. OneAscent Investment Solutions LLC purchased a new position in shares of Enel Chile in the second quarter valued at about $65,000. Finally, First Trust Advisors LP lifted its holdings in shares of Enel Chile by 46.0% in the first quarter. First Trust Advisors LP now owns 25,835 shares of the utilities provider's stock worth $102,000 after buying an additional 8,139 shares in the last quarter. 3.20% of the stock is owned by hedge funds and other institutional investors.

Enel Chile Trading Down 1.7%

Enel Chile stock opened at $4.26 on Thursday. The business's 50 day simple moving average is $4.37 and its 200 day simple moving average is $4.33. Enel Chile has a 12 month low of $3.62 and a 12 month high of $4.74. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 10.16 and a beta of 1.02.

Enel Chile (NYSE:ENIC - Get Free Report) last posted its earnings results on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share for the quarter. Enel Chile had a return on equity of 10.20% and a net margin of 12.30%. The business had revenue of $1.07 billion during the quarter. As a group, equities research analysts forecast that Enel Chile will post 0.48 earnings per share for the current fiscal year.

About Enel Chile

Enel Chile SA is a Chilean electricity company and part of the global Enel Group. The company operates across the power sector, with activities that include electricity generation, distribution and the development of renewable-energy projects.

Through its generation businesses, including Enel Generación Chile and Enel Green Power Chile, Enel Chile produces electricity from a diversified mix of sources such as hydropower, solar, wind and thermal generation. Its renewable-energy operations support the development and operation of utility-scale clean-energy facilities in Chile.

Enel Chile also provides electricity distribution services through Enel Distribución Chile, serving residential, commercial and industrial customers in the Santiago metropolitan area and surrounding locations.

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