Enel Chile (NYSE:ENIC) Shares Gap Down – Should You Sell?

Enel Chile S.A. (NYSE:ENIC) shares gapped down prior to trading on Friday . The stock had previously closed at $4.46, but opened at $4.31. Enel Chile shares last traded at $4.4550, with a volume of 32,427 shares.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ENIC shares. Itau BBA Securities lowered shares of Enel Chile to a “market perform” rating in a report on Friday. Btg Pactual set a $5.00 target price on shares of Enel Chile in a report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research note on Monday, April 20th. Wall Street Zen lowered shares of Enel Chile from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Scotiabank upgraded Enel Chile to a “strong-buy” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.65.

Enel Chile Price Performance

The company has a market cap of $6.15 billion, a PE ratio of 11.40 and a beta of 1.02. The company’s 50 day simple moving average is $4.39 and its two-hundred day simple moving average is $4.27.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arax Advisory Partners grew 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 in the last quarter. Eastern Bank acquired a new position in Enel Chile during the 2nd quarter worth about $33,000. Cibc World Market Inc. purchased a new position in Enel Chile during the 4th quarter valued at about $40,000. Allspring Global Investments Holdings LLC acquired a new position in Enel Chile in the 1st quarter valued at about $41,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Enel Chile during the first quarter worth about $43,000. 3.20% of the stock is currently 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.