Short Interest in Enel Chile S.A. (NYSE:ENIC) Declines By 25.0%

Key Points

• Short interest in Enel Chile fell by 25.0% to 474,631 shares as of March 31, yielding a short-interest ratio of 0.9 days based on average daily volume.
• Shares traded at $4.49 midday with a market capitalization of $6.20 billion and a P/E of 11.21, trading near its 12‑month high of $4.59 and 50/200‑day moving averages around $4.11/$4.02.
• Analysts have a consensus Hold rating with a $4.30 target, while several hedge funds increased stakes and institutional ownership is about 3.20%.

Enel Chile S.A. (NYSE:ENIC - Get Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 474,631 shares, a drop of 25.0% from the March 15th total of 633,063 shares. Based on an average daily volume of 550,288 shares, the short-interest ratio is currently 0.9 days. Currently, 0.0% of the shares of the stock are short sold.

Enel Chile Stock Performance

Shares of NYSE:ENIC traded up $0.02 during midday trading on Wednesday, hitting $4.49. 510,866 shares of the stock were exchanged, compared to its average volume of 613,059. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 11.21 and a beta of 0.97. The business's 50-day moving average price is $4.11 and its 200 day moving average price is $4.02. Enel Chile has a 12 month low of $3.10 and a 12 month high of $4.59.

Enel Chile (NYSE:ENIC - Get Free Report) last released its quarterly 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 for the quarter. Enel Chile had a return on equity of 9.81% and a net margin of 11.53%. As a group, sell-side analysts expect that Enel Chile will post 0.45 EPS for the current year.

Hedge Funds Weigh In On Enel Chile

A number of hedge funds and other institutional investors have recently made changes to their positions in ENIC. Royal Bank of Canada lifted its stake in shares of Enel Chile by 4.6% in the first quarter. Royal Bank of Canada now owns 438,287 shares of the utilities provider's stock worth $1,433,000 after acquiring an additional 19,092 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Enel Chile by 97.9% in the first quarter. Cubist Systematic Strategies LLC now owns 61,591 shares of the utilities provider's stock worth $201,000 after acquiring an additional 30,465 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Enel Chile in the first quarter worth approximately $289,000. Jane Street Group LLC acquired a new position in shares of Enel Chile in the first quarter worth approximately $131,000. Finally, Focus Partners Wealth lifted its stake in shares of Enel Chile by 154.2% in the first quarter. Focus Partners Wealth now owns 36,979 shares of the utilities provider's stock worth $121,000 after acquiring an additional 22,434 shares during the period. 3.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Enel Chile in a research report on Wednesday, January 21st. 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 equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.

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