Short Interest in Enel Chile S.A. (NYSE:ENIC) Rises By 73.7%

Enel Chile S.A. (NYSE:ENIC) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 508,593 shares, an increase of 73.7% from the November 30th total of 292,850 shares. Based on an average daily volume of 450,204 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily volume of 450,204 shares, the days-to-cover ratio is presently 1.1 days.

Enel Chile Stock Down 1.9%

Shares of NYSE ENIC traded down $0.08 during midday trading on Monday, hitting $3.97. 753,051 shares of the company’s stock were exchanged, compared to its average volume of 390,317. The business’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $3.67. Enel Chile has a 12-month low of $2.82 and a 12-month high of $4.05.

Enel Chile (NYSE:ENIC) last announced its earnings results 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 net margin of 1.75% and a return on equity of 1.23%. Sell-side analysts expect that Enel Chile will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ENIC. Wall Street Zen raised shares of Enel Chile from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Morgan Stanley reiterated an “overweight” rating and issued a $4.30 price target on shares of Enel Chile in a research report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Enel Chile to a “hold” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.30.

Institutional Investors Weigh In On Enel Chile

Several hedge funds have recently added to or reduced their stakes in ENIC. Jump Financial LLC purchased a new position in shares of Enel Chile in the 1st quarter worth about $34,000. Savant Capital LLC bought a new stake in Enel Chile in the 2nd quarter worth approximately $37,000. Foster Group Inc. bought a new position in Enel Chile during the third quarter valued at approximately $42,000. Caprock Group LLC purchased a new position in shares of Enel Chile during the third quarter worth approximately $48,000. Finally, Inspire Investing LLC boosted its stake in shares of 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 purchasing an additional 4,735 shares in the last quarter. Institutional investors own 3.20% of the company’s stock.

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.