Enel Chile (NYSE:ENIC) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Enel Chile S.A. (NYSE:ENIC) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $4.38 and traded as low as $4.38. Enel Chile shares last traded at $4.4050, with a volume of 507,705 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ENIC. Wall Street Zen downgraded Enel Chile from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 10th. Scotiabank raised shares of Enel Chile to a “strong-buy” rating in a research note on Thursday, April 23rd. Itau BBA Securities cut shares of Enel Chile to a “market perform” rating in a research note on Friday, July 10th. Btg Pactual set a $5.00 target price on Enel Chile in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.65.

Enel Chile Trading Up 0.1%

The firm’s fifty day simple moving average is $4.38 and its 200 day simple moving average is $4.28. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 11.30 and a beta of 1.02.

Enel Chile (NYSE:ENIC) last issued its earnings results on Tuesday, March 31st. The utilities provider reported $0.12 earnings per share for the quarter. Enel Chile had a return on equity of 9.50% and a net margin of 11.04%.The business had revenue of $1.20 billion for the quarter. As a group, sell-side analysts expect that Enel Chile S.A. will post 0.46 EPS for the current year.

Institutional Trading of Enel Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in shares of Enel Chile by 4.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 50,227 shares of the utilities provider’s stock worth $198,000 after purchasing an additional 2,288 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Enel Chile by 20.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,031 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 2,840 shares during the period. First Trust Advisors LP grew its position in Enel Chile by 21.1% in the 4th quarter. First Trust Advisors LP now owns 17,696 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 3,086 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Enel Chile by 4.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,024 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 4,708 shares during the period. Finally, Arax Advisory Partners raised its stake in shares of Enel Chile by 320.4% during the fourth quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,832 shares in the last quarter. 3.20% of the stock is owned by hedge funds and other institutional investors.

Enel Chile Company Profile

Enel Chile SA, traded as ENIC on the NYSE, is one of Chile’s leading integrated electric utilities, with core businesses spanning electricity generation, transmission and distribution. The company serves a diverse customer base that includes residential, commercial and industrial users, striving to deliver reliable power across both urban and rural regions.

In its generation segment, Enel Chile operates a balanced portfolio of assets, including hydroelectric plants, thermal power stations and an expanding suite of renewable energy facilities such as wind and solar farms.