Empresa Nacional de Electricidad S.A. (EOCC) Rating Lowered to Underperform at Scotiabank

Empresa Nacional de Electricidad S.A. (NYSE:EOCC) was downgraded by equities research analysts at Scotiabank from a “sector perform” rating to an “underperform” rating in a report released on Wednesday.

Several other equities analysts have also commented on the stock. BidaskClub raised shares of Empresa Nacional de Electricidad from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 11th. ValuEngine raised shares of Empresa Nacional de Electricidad from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Morgan Stanley lowered shares of Empresa Nacional de Electricidad from an “equal weight” rating to an “underweight” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.20.

Empresa Nacional de Electricidad (NYSE:EOCC) traded up $0.16 during mid-day trading on Wednesday, reaching $26.06. 132,187 shares of the company’s stock traded hands, compared to its average volume of 128,498.

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A number of hedge funds have recently added to or reduced their stakes in EOCC. Acadian Asset Management LLC increased its holdings in Empresa Nacional de Electricidad by 899.8% in the 2nd quarter. Acadian Asset Management LLC now owns 404,397 shares of the utilities provider’s stock valued at $9,156,000 after buying an additional 363,951 shares during the period. Vanguard Group Inc. increased its holdings in Empresa Nacional de Electricidad by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,490,272 shares of the utilities provider’s stock valued at $33,740,000 after buying an additional 90,717 shares during the period. State Street Corp increased its holdings in Empresa Nacional de Electricidad by 24.4% in the 2nd quarter. State Street Corp now owns 449,763 shares of the utilities provider’s stock valued at $10,180,000 after buying an additional 88,313 shares during the period. OxFORD Asset Management LLP increased its holdings in Empresa Nacional de Electricidad by 112.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 75,359 shares of the utilities provider’s stock valued at $1,706,000 after buying an additional 39,954 shares during the period. Finally, FMR LLC bought a new stake in shares of Empresa Nacional de Electricidad during the 2nd quarter valued at approximately $898,000. 2.64% of the stock is currently owned by hedge funds and other institutional investors.

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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