Enel Chile (NYSE:ENIC) Hits New 52-Week High – Time to Buy?

Enel Chile S.A. (NYSE:ENIC)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $3.50 and last traded at $3.47, with a volume of 61551 shares traded. The stock had previously closed at $3.43.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Enel Chile from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Enel Chile Stock Performance

The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 5.65 and a beta of 0.99. The company has a fifty day simple moving average of $3.30 and a two-hundred day simple moving average of $3.03.

Institutional Investors Weigh In On Enel Chile

A number of institutional investors and hedge funds have recently bought and sold shares of ENIC. Brandes Investment Partners LP lifted its stake in Enel Chile by 2.7% in the fourth quarter. Brandes Investment Partners LP now owns 5,707,753 shares of the utilities provider’s stock worth $16,438,000 after purchasing an additional 152,430 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Enel Chile by 1.6% during the 4th quarter. Renaissance Technologies LLC now owns 2,512,771 shares of the utilities provider’s stock valued at $7,237,000 after purchasing an additional 38,783 shares during the last quarter. Helikon Investments Ltd increased its holdings in Enel Chile by 14.7% in the 4th quarter. Helikon Investments Ltd now owns 2,112,723 shares of the utilities provider’s stock worth $6,085,000 after buying an additional 270,545 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Enel Chile by 13.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,482,326 shares of the utilities provider’s stock valued at $4,269,000 after purchasing an additional 172,383 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Enel Chile by 56.1% during the fourth quarter. JPMorgan Chase & Co. now owns 1,256,695 shares of the utilities provider’s stock valued at $3,619,000 after acquiring an additional 451,482 shares during the last quarter. 3.20% of the stock is owned by hedge funds and other institutional investors.

About Enel Chile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.