Enel Generacion Chile's Results Improve as Fuel Costs Decline
We are reaffirming our $28 per share fair value estimate, narrow economic moat, and stable moat trend ratings after Enel Generacion Chile reported net earnings attributable to shareholders of CLP 472.6 billion, up 20% from the same year-ago period.Results were aided by both higher physical sales to regulated customers and higher average energy prices. The persistent drought in Chile continued to depress hydro generation, resulting in higher thermal generation dispatch. The company's use of natu...
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