StockNews.com Upgrades Enel Chile (NYSE:ENIC) to Buy

Enel Chile (NYSE:ENIC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Enel Chile Price Performance

Shares of NYSE:ENIC traded up $0.09 during midday trading on Friday, hitting $2.74. The stock had a trading volume of 321,413 shares, compared to its average volume of 506,134. The company’s 50-day moving average price is $2.81 and its 200-day moving average price is $2.91. The company has a market capitalization of $3.79 billion, a P/E ratio of 5.27 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 0.85 and a debt-to-equity ratio of 0.05. Enel Chile has a fifty-two week low of $2.52 and a fifty-two week high of $3.53.

Hedge Funds Weigh In On Enel Chile

A number of institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP grew its position in shares of Enel Chile by 28.2% in the 4th quarter. Brandes Investment Partners LP now owns 3,586,182 shares of the utilities provider’s stock valued at $11,619,000 after buying an additional 789,016 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Enel Chile in the 4th quarter valued at about $3,398,000. Cerity Partners LLC lifted its stake in shares of Enel Chile by 13.6% in the 4th quarter. Cerity Partners LLC now owns 97,660 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 11,670 shares during the period. Team Hewins LLC acquired a new position in shares of Enel Chile in the 4th quarter valued at about $198,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Enel Chile in the 4th quarter valued at about $71,000. 3.20% of the stock is currently owned by institutional investors and hedge funds.

Enel Chile Company Profile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.