Enel Chile S.A. (NYSE:ENIC) Sees Large Drop in Short Interest

Enel Chile S.A. (NYSE:ENIC) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 522,986 shares, a drop of 15.6% from the February 12th total of 619,511 shares. Based on an average daily trading volume, of 645,025 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 645,025 shares, the days-to-cover ratio is currently 0.8 days.

Hedge Funds Weigh In On Enel Chile

A number of institutional investors have recently modified their holdings of the stock. Banco BTG Pactual S.A. acquired a new position in Enel Chile during the 2nd quarter worth $4,389,000. Wellington Management Group LLP increased its stake in shares of Enel Chile by 48.4% in the 4th quarter. Wellington Management Group LLP now owns 2,042,904 shares of the utilities provider’s stock valued at $8,212,000 after buying an additional 666,544 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Enel Chile during the fourth quarter worth $2,629,000. Jump Financial LLC lifted its stake in shares of Enel Chile by 5,592.9% during the second quarter. Jump Financial LLC now owns 584,202 shares of the utilities provider’s stock valued at $2,121,000 after acquiring an additional 573,940 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in Enel Chile in the third quarter worth about $1,408,000. 3.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday. Morgan Stanley reiterated an “overweight” rating and set a $4.30 target price on shares of Enel Chile in a research report on Friday, December 12th. Zacks Research raised shares of Enel Chile to a “hold” rating in a report on Monday, December 15th. Finally, Santander cut shares of Enel Chile to a “neutral” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.30.

Enel Chile Trading Up 1.5%

ENIC traded up $0.06 during trading on Monday, hitting $4.03. The company’s stock had a trading volume of 13,120 shares, compared to its average volume of 597,299. The firm’s 50 day moving average price is $4.22 and its two-hundred day moving average price is $3.96. Enel Chile has a 12 month low of $2.85 and a 12 month high of $4.51.

Enel Chile (NYSE:ENIC) last announced its earnings results on Tuesday, March 3rd. The utilities provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Enel Chile had a return on equity of 9.81% and a net margin of 11.53%.The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $1.21 million. Analysts predict that Enel Chile will post 0.45 EPS for the current fiscal year.

About Enel Chile

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.