Enel Chile S.A. (NYSE:ENIC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Enel Chile S.A. (NYSE:ENIC) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $4.65.

ENIC has been the subject of a number of research reports. Itau BBA Securities lowered shares of Enel Chile to a “market perform” rating in a research note on Friday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a report on Friday, July 17th.

Institutional Investors Weigh In On Enel Chile

Several hedge funds and other institutional investors have recently made changes to their positions in ENIC. Sequoia Financial Advisors LLC increased its holdings in Enel Chile by 48.8% during the second quarter. Sequoia Financial Advisors LLC now owns 89,652 shares of the utilities provider’s stock valued at $403,000 after buying an additional 29,405 shares during the last quarter. Raiffeisen Bank International AG grew its position in shares of Enel Chile by 14.5% during the 2nd 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 period. Public Employees Retirement System of Ohio bought a new position in Enel Chile in the 2nd quarter worth $886,000. OneAscent Investment Solutions LLC purchased a new position in Enel Chile during the second quarter valued at $65,000. Finally, Eastern Bank bought a new stake in Enel Chile during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 3.20% of the company’s stock.

Enel Chile Stock Performance

ENIC opened at $4.29 on Wednesday. The company’s 50-day simple moving average is $4.44 and its two-hundred day simple moving average is $4.33. The stock has a market capitalization of $5.94 billion, a P/E ratio of 10.23 and a beta of 1.04. Enel Chile has a 52-week low of $3.62 and a 52-week high of $4.74.

Enel Chile (NYSE:ENIC) last released its quarterly earnings data on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Enel Chile had a net margin of 12.30% and a return on equity of 10.20%. Research analysts forecast that Enel Chile will post 0.47 EPS for the current fiscal year.

Enel Chile Company Profile

Enel Chile SA is a Chilean energy company engaged in the generation, distribution and sale of electricity. It serves residential, commercial and industrial customers in Chile through a portfolio that includes renewable and conventional power-generation assets, as well as electricity distribution networks.

The company’s generation activities include hydroelectric, solar, wind, geothermal and thermal power projects. Through its distribution business, Enel Chile delivers electricity to customers in the Santiago metropolitan area and other parts of Chile, while also developing solutions related to electrification, energy efficiency and distributed energy resources.

Enel Chile is part of the Enel Group, a global energy company headquartered in Italy.