Enel Chile (NYSE:ENIC) Hits New 1-Year High After Analyst Upgrade

Enel Chile S.A. (NYSE:ENIC)’s share price hit a new 52-week high on Monday after Zacks Research upgraded the stock to a hold rating. The company traded as high as $4.05 and last traded at $3.9350, with a volume of 325660 shares. The stock had previously closed at $4.01.

Several other analysts also recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $4.30 price objective on shares of Enel Chile in a report on Friday, December 12th. Finally, Wall Street Zen raised shares of Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.30.

Institutional Investors Weigh In On Enel Chile

Several large investors have recently made changes to their positions in the company. Ethos Financial Group LLC increased its position in Enel Chile by 7.3% during the second quarter. Ethos Financial Group LLC now owns 233,625 shares of the utilities provider’s stock worth $848,000 after acquiring an additional 15,851 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Enel Chile during the second quarter worth about $59,000. Banco BTG Pactual S.A. bought a new position in shares of Enel Chile in the second quarter valued at about $4,389,000. Inspire Investing LLC boosted its position in Enel Chile by 43.2% in the 1st quarter. Inspire Investing LLC now owns 15,691 shares of the utilities provider’s stock valued at $51,000 after buying an additional 4,735 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Enel Chile in the 1st quarter valued at $804,000. Institutional investors own 3.20% of the company’s stock.

Enel Chile Stock Performance

The firm has a 50 day moving average price of $3.83 and a 200-day moving average price of $3.64.

Enel Chile (NYSE:ENIC) last issued its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.16 billion. Enel Chile had a return on equity of 1.23% and a net margin of 1.75%. Analysts forecast that Enel Chile S.A. will post 0.45 EPS for the current fiscal year.

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.