Enel Chile (NYSE:ENIC) Issues Quarterly Earnings Results

Enel Chile (NYSE:ENIC) announced its quarterly earnings results on Wednesday. The utilities provider reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01, Zacks reports. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $1.12 billion. Enel Chile had a return on equity of 10.20% and a net margin of 12.30%.

Enel Chile Stock Performance

Shares of ENIC stock traded down $0.12 during trading hours on Friday, reaching $4.12. The company had a trading volume of 415,928 shares, compared to its average volume of 631,906. Enel Chile has a 12-month low of $3.64 and a 12-month high of $4.74. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 9.80 and a beta of 1.02. The stock has a fifty day moving average of $4.37 and a 200-day moving average of $4.33.

Wall Street Analyst Weigh In

ENIC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a report on Thursday, October 15th. Bank of America started coverage on shares of Enel Chile in a report on Thursday, October 15th. They set a “neutral” rating on the stock. Finally, Itau BBA Securities downgraded shares of Enel Chile to a “market perform” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.65.

About Enel Chile

Enel Chile SA is a Chilean electricity company and part of the global Enel Group. The company operates across the power sector, with activities that include electricity generation, distribution and the development of renewable-energy projects.

Through its generation businesses, including Enel Generación Chile and Enel Green Power Chile, Enel Chile produces electricity from a diversified mix of sources such as hydropower, solar, wind and thermal generation. Its renewable-energy operations support the development and operation of utility-scale clean-energy facilities in Chile.

Enel Chile also provides electricity distribution services through Enel Distribución Chile, serving residential, commercial and industrial customers in the Santiago metropolitan area and surrounding locations.