BidaskClub Downgrades Empresa Nacional de Electricidad S.A. (EOCC) to Buy

Empresa Nacional de Electricidad S.A. (NYSE:EOCC) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Several other research analysts also recently commented on the stock. Scotiabank raised shares of Empresa Nacional de Electricidad from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $21.90 to $24.20 in a research note on Monday, August 28th. ValuEngine raised shares of Empresa Nacional de Electricidad from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Morgan Stanley downgraded shares of Empresa Nacional de Electricidad from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.20.

Empresa Nacional de Electricidad (NYSE:EOCC) traded down $0.05 during mid-day trading on Thursday, hitting $25.99. 95,664 shares of the company’s stock traded hands, compared to its average volume of 124,695. Empresa Nacional de Electricidad has a 52-week low of $18.35 and a 52-week high of $27.74.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. purchased a new position in shares of Empresa Nacional de Electricidad in the third quarter worth $816,000. Pictet Asset Management Ltd. increased its stake in shares of Empresa Nacional de Electricidad by 13.8% in 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 period. Aperio Group LLC increased its stake in shares of Empresa Nacional de Electricidad by 23.2% in the third quarter. Aperio Group LLC now owns 170,899 shares of the utilities provider’s stock worth $4,505,000 after buying an additional 32,205 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Empresa Nacional de Electricidad in the second quarter worth $208,000. Finally, Susquehanna International Group LLP increased its stake in shares of Empresa Nacional de Electricidad by 35.2% in the second quarter. Susquehanna International Group LLP now owns 35,526 shares of the utilities provider’s stock worth $804,000 after buying an additional 9,254 shares during the period. 2.64% of the stock is currently owned by institutional investors.

About Empresa Nacional de Electricidad

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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