Morgan Stanley Downgrades Empresa Nacional de Electricidad S.A. (NYSE:EOCC) to Underweight

Empresa Nacional de Electricidad S.A. (NYSE:EOCC) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Tuesday, October 24th, MarketBeat.com reports.

EOCC has been the topic of several other reports. BidaskClub upgraded shares of Empresa Nacional de Electricidad from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of Empresa Nacional de Electricidad from a “buy” rating to a “hold” rating in a report on Friday, June 30th. TheStreet cut shares of Empresa Nacional de Electricidad from a “b” rating to a “c” rating in a report on Monday, June 26th. Finally, Scotiabank raised shares of Empresa Nacional de Electricidad from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $21.90 to $24.20 in a research note on Monday, August 28th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Empresa Nacional de Electricidad presently has an average rating of “Hold” and a consensus target price of $24.20.

Empresa Nacional de Electricidad (NYSE EOCC) opened at $26.12 on Tuesday. Empresa Nacional de Electricidad has a 12-month low of $18.35 and a 12-month high of $27.74.

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A number of hedge funds and other institutional investors have recently bought and sold shares of EOCC. Wells Fargo & Company MN grew its stake in Empresa Nacional de Electricidad by 101.5% during the third quarter. Wells Fargo & Company MN now owns 12,759 shares of the utilities provider’s stock worth $336,000 after buying an additional 6,428 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Empresa Nacional de Electricidad by 1,470.0% during the third quarter. Great West Life Assurance Co. Can now owns 10,990 shares of the utilities provider’s stock worth $289,000 after buying an additional 10,290 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Empresa Nacional de Electricidad by 20.3% during the third quarter. Advisors Asset Management Inc. now owns 74,014 shares of the utilities provider’s stock worth $1,951,000 after buying an additional 12,503 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Empresa Nacional de Electricidad during the third quarter worth about $816,000. Finally, Pictet Asset Management Ltd. grew its stake in Empresa Nacional de Electricidad by 13.8% during the third quarter. Pictet Asset Management Ltd. now owns 26,156 shares of the utilities provider’s stock worth $690,000 after buying an additional 3,168 shares during the last quarter. 2.67% of the stock is currently owned by institutional investors and hedge funds.

Empresa Nacional de Electricidad Company Profile

Enel Generacion Chile SA, formerly Empresa Nacional De Electricidad SA, is a Chile-based company engaged in the business of electricity generation. The Company operates in Chile. The Company owns and operates a total of approximately 111-generation units in Chile both directly and through its subsidiaries, Pehuenche, Celta and GasAtacama.

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