Enel Chile (NYSE:ENIC) Now Covered by Bank of America

Bank of America initiated coverage on shares of Enel Chile (NYSE:ENIC) in a research note issued on Thursday, Briefing.com reports. The firm set a “neutral” rating on the utilities provider’s stock.

A number of other research analysts have also recently issued reports on ENIC. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a research note on Friday, July 17th. Itau BBA Securities cut Enel Chile to a “market perform” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Enel Chile has a consensus rating of “Hold” and an average target price of $4.65.

Enel Chile Stock Performance

ENIC stock opened at $4.42 on Thursday. The firm has a market cap of $6.11 billion, a P/E ratio of 10.51 and a beta of 1.02. The firm’s fifty day moving average is $4.39 and its 200 day moving average is $4.38. Enel Chile has a 52 week low of $3.62 and a 52 week high of $4.74.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Enel Chile in the second quarter worth $886,000. Amundi purchased a new stake in shares of Enel Chile during the first quarter worth about $443,000. Bank of America Corp DE grew its stake in shares of 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. Royal Bank of Canada increased its holdings in Enel Chile by 12.0% during the 1st quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider’s stock valued at $2,577,000 after purchasing an additional 70,000 shares during the period. Finally, Raiffeisen Bank International AG increased its holdings in 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 purchasing an additional 66,300 shares during the period. 3.20% of the stock is owned by hedge funds and other institutional investors.

About Enel Chile

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.