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

Shares of Enel Chile S.A. (NYSE:ENIC) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.26 and traded as low as $4.15. Enel Chile shares last traded at $4.2050, with a volume of 433,440 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on ENIC shares. Scotiabank raised Enel Chile to a “strong-buy” rating in a research note on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Enel Chile in a research report on Monday, April 20th. Wall Street Zen downgraded Enel Chile from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 10th. Btg Pactual set a $5.00 price objective on Enel Chile in a research report on Friday, May 8th. Finally, Santander lowered Enel Chile to a “neutral” rating in a research note on Wednesday, January 28th. 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’s stock. According to MarketBeat.com, Enel Chile has a consensus rating of “Moderate Buy” and a consensus target price of $4.65.

Enel Chile Stock Down 1.1%

The business has a fifty day moving average of $4.26 and a 200 day moving average of $4.13. The firm has a market cap of $5.82 billion, a P/E ratio of 10.78 and a beta of 1.06.

Enel Chile (NYSE:ENIC) last released its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.12 EPS 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 during the quarter. On average, sell-side analysts expect that Enel Chile S.A. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its position in shares of Enel Chile by 872.6% during the first quarter. Bank of America Corp DE now owns 117,225 shares of the utilities provider’s stock worth $462,000 after buying an additional 105,172 shares during the period. Amundi acquired a new position in shares of Enel Chile during the first quarter worth about $443,000. Royal Bank of Canada boosted its position in shares of Enel Chile by 12.0% during the first quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider’s stock worth $2,577,000 after buying an additional 70,000 shares during the period. Public Employees Retirement System of Ohio grew its stake in Enel Chile by 13.2% in the first quarter. Public Employees Retirement System of Ohio now owns 177,103 shares of the utilities provider’s stock valued at $698,000 after purchasing an additional 20,625 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Enel Chile by 46.0% in the first quarter. First Trust Advisors LP now owns 25,835 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 8,139 shares in the last quarter. 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.