Report
Andrew Bischof, CFA
EUR 147.86 For Business Accounts Only

Stand-Alone Endesa Chile Off to a Good Start

We are reaffirming our $28 per share fair value estimate, narrow economic moat, and stable moat trend ratings after Endesa Chile reported net earnings attributable to shareholders of CLP 237.4 billion compared with CLP 90.7 billion in the same year-ago period.
Endesa Chile, which recently spun off its Argentina, Peru, and Colombia assets, saw sharply higher net income from increased generation as the company's hydro generation fleet continued to benefit from recovering water levels, as we expect...
Underlying
Empresa Nacional de Electricidad SA

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Bischof, CFA

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