Enel Chile (NYSE:ENIC) Upgraded to Strong-Buy at Scotiabank

Scotiabank upgraded shares of Enel Chile (NYSE:ENIC) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

A number of other analysts have also issued reports on ENIC. Wall Street Zen upgraded Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday, March 15th. Santander lowered Enel Chile to a “neutral” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.30.

Enel Chile Trading Up 1.0%

Shares of Enel Chile stock opened at $4.56 on Thursday. The company has a 50 day moving average of $4.15 and a 200-day moving average of $4.06. The company has a market cap of $6.30 billion, a PE ratio of 11.39 and a beta of 0.97. Enel Chile has a 1-year low of $3.10 and a 1-year high of $4.62.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Saturday, February 14th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. Enel Chile had a net margin of 11.53% and a return on equity of 9.81%. The firm had revenue of $1.18 billion during the quarter. Research analysts forecast that Enel Chile will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Enel Chile

Several institutional investors have recently bought and sold shares of ENIC. Envestnet Portfolio Solutions Inc. grew its holdings in Enel Chile by 20.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,031 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 2,840 shares during the period. First Trust Advisors LP grew its stake in shares of Enel Chile by 21.1% during the 4th quarter. First Trust Advisors LP now owns 17,696 shares of the utilities provider’s stock valued at $71,000 after buying an additional 3,086 shares during the period. Truist Financial Corp increased its stake in Enel Chile by 25.2% during the third quarter. Truist Financial Corp now owns 16,684 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 3,357 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Enel Chile by 1.3% in the third quarter. Hantz Financial Services Inc. now owns 287,814 shares of the utilities provider’s stock valued at $1,120,000 after buying an additional 3,744 shares during the period. Finally, Wealthstream Advisors Inc. raised its stake in shares of Enel Chile by 24.4% in the 3rd quarter. Wealthstream Advisors Inc. now owns 19,583 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 3,835 shares during the period. 3.20% of the stock is currently owned by institutional investors and hedge funds.

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.