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

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ENIC. Zacks Research upgraded shares of Enel Chile to a “hold” rating in a research report on Monday, December 15th. Morgan Stanley restated an “overweight” rating and issued a $4.30 price target on shares of Enel Chile in a report on Friday, December 12th. Santander cut Enel Chile to a “neutral” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.30.

Enel Chile Trading Down 0.4%

Enel Chile stock traded down $0.02 during midday trading on Wednesday, reaching $4.04. 723,173 shares of the company were exchanged, compared to its average volume of 604,086. The firm’s 50-day simple moving average is $4.21 and its 200-day simple moving average is $3.97. Enel Chile has a 1 year low of $2.85 and a 1 year high of $4.51.

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

Institutional Investors Weigh In On Enel Chile

Several hedge funds have recently made changes to their positions in the business. Arax Advisory Partners increased its stake in Enel Chile by 320.4% in the fourth quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,832 shares during the last quarter. Savant Capital LLC purchased a new stake in Enel Chile in the 2nd quarter valued at about $37,000. Cibc World Market Inc. acquired a new position in shares of Enel Chile during the 4th quarter valued at about $40,000. Foster Group Inc. purchased a new position in shares of Enel Chile during the 3rd quarter worth about $42,000. Finally, MML Investors Services LLC acquired a new stake in shares of Enel Chile in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 3.20% of the company’s stock.

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.