Enel Chile S.A. (NYSE:ENIC) Shares Shorted: Short Interest Down 35.9% in September

Key Points

• Enel Chile’s short interest fell 35.9% to 1.03 million shares as of September 30, representing just 0.1% of shares outstanding and 1.2 days of average trading volume.
• Institutional investors showed increased interest, with Royal Bank of Canada and Raiffeisen Bank International raising their positions; institutional ownership reached 3.2%.
• Shares were trading at $4.38, while analysts maintained an overall “Hold” rating with an average price target of $4.65.

Enel Chile S.A. (NYSE:ENIC - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,029,468 shares, a drop of 35.9% from the September 15th total of 1,606,023 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 826,041 shares, the short-interest ratio is currently 1.2 days.

Institutional Investors Weigh In On Enel Chile

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of Enel Chile by 12.0% during the first quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider's stock valued at $2,577,000 after buying an additional 70,000 shares during the last quarter. Raiffeisen Bank International AG lifted its position in Enel Chile by 14.5% during the second quarter. Raiffeisen Bank International AG now owns 523,800 shares of the utilities provider's stock valued at $2,326,000 after acquiring an additional 66,300 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Enel Chile in the second quarter worth $886,000. Bank of America Corp DE grew its holdings in Enel Chile by 872.6% in the first quarter. Bank of America Corp DE now owns 117,225 shares of the utilities provider's stock worth $462,000 after purchasing an additional 105,172 shares during the last quarter. Finally, Amundi acquired a new position in shares of Enel Chile during the first quarter worth $443,000. Institutional investors own 3.20% of the company's stock.

Enel Chile Stock Down 1.0%

Enel Chile stock opened at $4.38 on Friday. The business has a fifty day moving average of $4.39 and a two-hundred day moving average of $4.39. The firm has a market cap of $6.05 billion, a P/E ratio of 10.52 and a beta of 1.02. Enel Chile has a twelve month low of $3.62 and a twelve month high of $4.74.

Enel Chile (NYSE:ENIC - Get Free Report) last announced its earnings results on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share (EPS) 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 for the quarter. Equities analysts expect that Enel Chile will post 0.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ENIC shares. Bank of America assumed coverage on shares of Enel Chile in a research note on Thursday. They issued a "neutral" rating for the company. Itau BBA Securities downgraded shares of Enel Chile to a "market perform" rating in a research report on Friday, July 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Enel Chile in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $4.65.

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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