10 Cheap Utility Stocks to Buy According to Hedge Funds

8. Enel Chile S.A. (NYSE:ENIC)

Number of Hedge Fund Holdings: 10 

Enel Chile S.A. (NYSE:ENIC), the country’s largest listed electricity utility, focuses on electricity generation, transmission, and distribution with a strong commitment to renewable energy and grid modernization. Operating under a regulated framework, the company ensures service reliability and maintains stakeholder confidence.

A key recent development is the leadership transition effective July 1, 2025. Former CEO Giuseppe Turchiarelli, who oversaw a 1.9 GW renewable energy build-out and accelerated decarbonization efforts since March 2024, stepped down to join Enel Group’s corporate strategy team in Rome. He is succeeded by Gianluca Palumbo, a veteran electrical engineer from Enel Group with deep expertise in grid operations and digitalization.

Palumbo’s appointment signals a strategic shift toward intensifying grid modernization and digital transformation, critical elements in Enel Chile S.A. (NYSE:ENIC)’s three-year plan. The company is expected to unveil a revised capital expenditure roadmap in August 2025, focusing on smart grid infrastructure to support Chile’s goal of reaching 93% renewable energy capacity by 2027.

Despite a July 2025 stock downgrade by Citi due to regulatory and sector uncertainties, Enel Chile S.A. (NYSE:ENIC) remains operationally resilient and continues to draw interest from investors seeking cheap utility stocks with long-term growth potential.