Enel Chile (NYSE:ENIC) Raised to Strong-Buy at Scotiabank

Key Points

• Scotiabank upgraded Enel Chile to a "Strong-Buy", amid mixed broker views (Wall Street Zen recently raised to Buy while Santander cut to Neutral); the stock's consensus from six analysts is a "Moderate Buy" with an average target price of $4.30.
• ENIC opened at $4.56 with a market cap of $6.3 billion and a P/E of 11.39, trading near its 1‑year high of $4.62; the company reported $0.14 EPS on $1.18 billion revenue for the quarter and analysts forecast about 0.37 EPS for the year.

Enel Chile (NYSE:ENIC - Get Free Report) was upgraded by equities research analysts at Scotiabank to a "strong-buy" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other brokerages have also recently weighed in on ENIC. Weiss Ratings restated a "hold (c)" rating on shares of Enel Chile in a report on Monday. Santander cut Enel Chile to a "neutral" rating in a report on Wednesday, January 28th. Finally, Wall Street Zen upgraded Enel Chile from a "hold" rating to a "buy" rating in a report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Enel Chile presently has a consensus rating of "Moderate Buy" and an average target price of $4.30.

Enel Chile Price Performance

Shares of ENIC stock opened at $4.56 on Thursday. The stock has a market capitalization of $6.30 billion, a PE ratio of 11.39 and a beta of 0.97. Enel Chile has a 1-year low of $3.10 and a 1-year high of $4.62. The business has a 50-day moving average of $4.15 and a 200 day moving average of $4.06.

Enel Chile (NYSE:ENIC - Get Free Report) last issued its earnings results on Saturday, February 14th. The utilities provider reported $0.14 earnings per share for the quarter. The company had revenue of $1.18 billion during the quarter. Enel Chile had a return on equity of 9.81% and a net margin of 11.53%. Analysts anticipate that Enel Chile will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Enel Chile

Institutional investors and hedge funds have recently bought and sold shares of the business. Arax Advisory Partners lifted its holdings in Enel Chile by 320.4% in the 4th quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider's stock worth $31,000 after buying an additional 5,832 shares during the period. Cibc World Market Inc. purchased a new stake in Enel Chile in the 4th quarter worth approximately $40,000. MML Investors Services LLC purchased a new stake in Enel Chile in the 4th quarter worth approximately $43,000. SmartHarvest Portfolios LLC purchased a new stake in Enel Chile in the 1st quarter worth approximately $43,000. Finally, TMB Capital Partners LLC purchased a new stake in Enel Chile in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 3.20% of the company's stock.

About Enel Chile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.