Enel Chile (NYSE:ENIC) Reaches New 1-Year High After Strong Earnings

Enel Chile S.A. (NYSE:ENIC) shares hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $4.63 and last traded at $4.5950, with a volume of 1134221 shares. The stock had previously closed at $4.33.

The utilities provider reported $0.12 earnings per share (EPS) for the quarter. Enel Chile had a return on equity of 9.60% and a net margin of 11.04%.The business had revenue of $1.20 billion for the quarter.

Wall Street Analyst Weigh In

ENIC has been the topic of several research analyst reports. Santander downgraded Enel Chile to a “neutral” rating in a research note on Wednesday, January 28th. Scotiabank upgraded Enel Chile to a “strong-buy” rating in a research note on Thursday, April 23rd. Wall Street Zen upgraded Enel Chile from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.30.

Institutional Trading of Enel Chile

Several large investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its stake 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 last quarter. First Trust Advisors LP grew its stake in Enel Chile by 21.1% during the 4th quarter. First Trust Advisors LP now owns 17,696 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 3,086 shares during the last quarter. Truist Financial Corp grew its stake in Enel Chile by 25.2% during the 3rd quarter. Truist Financial Corp now owns 16,684 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 3,357 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Enel Chile by 1.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 287,814 shares of the utilities provider’s stock valued at $1,120,000 after buying an additional 3,744 shares during the period. Finally, Wealthstream Advisors Inc. lifted its holdings in shares of Enel Chile by 24.4% in the 3rd quarter. Wealthstream Advisors Inc. now owns 19,583 shares of the utilities provider’s stock valued at $76,000 after buying an additional 3,835 shares during the period. Hedge funds and other institutional investors own 3.20% of the company’s stock.

Enel Chile Trading Down 1.4%

The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 11.45 and a beta of 0.97. The company has a fifty day moving average price of $4.17 and a 200-day moving average price of $4.08.

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.