Zacks Research Upgrades Enel Chile (NYSE:ENIC) to Hold

Enel Chile (NYSE:ENIC) was upgraded by analysts at Zacks Research to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on ENIC. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, October 8th. Wall Street Zen raised Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. Finally, Morgan Stanley reissued an “overweight” rating and set a $4.30 price target on shares of Enel Chile in a research note on Friday, December 12th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.30.

Enel Chile Stock Down 1.1%

Shares of ENIC stock opened at $3.90 on Monday. Enel Chile has a 12-month low of $2.73 and a 12-month high of $4.05. The stock’s 50-day moving average price is $3.83 and its 200-day moving average price is $3.64.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). Enel Chile had a return on equity of 1.23% and a net margin of 1.75%.The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.16 billion. Equities research analysts predict that Enel Chile will post 0.45 earnings per share for the current year.

Institutional Trading of Enel Chile

Hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd grew its position in shares of Enel Chile by 14.6% in the 3rd quarter. Qube Research & Technologies Ltd now owns 72,394 shares of the utilities provider’s stock worth $282,000 after buying an additional 9,203 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Enel Chile by 38.5% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 178,268 shares of the utilities provider’s stock worth $693,000 after purchasing an additional 49,535 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Enel Chile during the 3rd quarter valued at $97,000. Creative Planning grew its stake in Enel Chile by 13.4% during the 3rd quarter. Creative Planning now owns 250,464 shares of the utilities provider’s stock worth $974,000 after buying an additional 29,621 shares during the last quarter. Finally, Qtron Investments LLC raised its stake in Enel Chile by 29.4% in the third quarter. Qtron Investments LLC now owns 171,265 shares of the utilities provider’s stock valued at $666,000 after buying an additional 38,861 shares during the last quarter. 3.20% of the stock is owned by hedge funds and other institutional investors.

About Enel Chile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.