Enel Chile (NYSE:ENIC) Shares Pass Below 50-Day Moving Average – Here’s Why

Enel Chile S.A. (NYSE:ENIC) passed below its 50-day moving average during trading on Friday . The stock has a 50-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 traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENIC. Wall Street Zen lowered 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 report on Thursday, April 23rd. Btg Pactual set a $5.00 target price on shares of Enel Chile in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Monday, April 20th. Finally, Itau BBA Securities lowered shares of Enel Chile to a “market perform” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Enel Chile currently has a consensus rating of “Moderate Buy” and an average price target of $4.65.

Enel Chile Trading Up 0.1%

The firm has a market cap of $6.09 billion, a P/E ratio of 11.30 and a beta of 1.02. The firm’s 50 day moving average is $4.38 and its two-hundred day moving average is $4.28.

Enel Chile (NYSE:ENIC) last issued its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.12 earnings per share (EPS) for the quarter. Enel Chile had a net margin of 11.04% and a return on equity of 9.50%. The company had revenue of $1.20 billion during the quarter. Analysts predict that Enel Chile S.A. will post 0.46 EPS for the current fiscal year.

Institutional Trading of Enel Chile

Several large investors have recently bought and sold shares of ENIC. Arax Advisory Partners increased its stake in shares of Enel Chile by 320.4% in the fourth quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider’s stock valued at $31,000 after buying an additional 5,832 shares during the period. Eastern Bank bought a new position in Enel Chile in the 2nd quarter valued at about $33,000. Cibc World Market Inc. bought a new stake in Enel Chile during the fourth quarter worth $40,000. Allspring Global Investments Holdings LLC bought a new stake in Enel Chile in the 1st quarter worth about $41,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in shares of Enel Chile during the 1st quarter valued at $43,000. 3.20% of the stock is owned by institutional investors and hedge funds.

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.