Enel Chile (NYSE:ENIC) Reaches New 1-Year High – Here’s Why

Enel Chile S.A. (NYSE:ENIC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $3.46 and last traded at $3.46, with a volume of 643726 shares traded. The stock had previously closed at $3.38.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered Enel Chile from a “sector outperform” rating to a “sector perform” rating and set a $3.90 price objective for the company. in a research note on Friday, November 22nd.

Enel Chile Stock Down 3.9 %

The company has a market capitalization of $4.59 billion, a P/E ratio of 5.43 and a beta of 1.12. The company’s 50-day moving average is $3.07 and its two-hundred day moving average is $2.86.

Enel Chile (NYSE:ENIC) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported ($0.20) earnings per share for the quarter. Enel Chile had a net margin of 17.33% and a return on equity of 15.48%. On average, sell-side analysts predict that Enel Chile S.A. will post 0.45 EPS for the current year.

Enel Chile Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a dividend of $0.0463 per share. The ex-dividend date was Friday, January 17th. This is a positive change from Enel Chile’s previous dividend of $0.03. Enel Chile’s dividend payout ratio is 36.07%.

Institutional Investors Weigh In On Enel Chile

A number of hedge funds have recently made changes to their positions in the business. Raiffeisen Bank International AG purchased a new position in Enel Chile in the 4th quarter worth approximately $950,000. OMERS ADMINISTRATION Corp purchased a new position in Enel Chile during the fourth quarter valued at $44,000. Millennium Management LLC boosted its stake in Enel Chile by 10.1% during the fourth quarter. Millennium Management LLC now owns 669,763 shares of the utilities provider’s stock worth $1,929,000 after acquiring an additional 61,531 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Enel Chile by 9.0% in the 4th quarter. Lazard Asset Management LLC now owns 74,616 shares of the utilities provider’s stock worth $214,000 after buying an additional 6,173 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Enel Chile during the fourth quarter valued at $42,000. 3.20% of the stock is currently owned by 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.