Enel Chile (NYSE:ENIC) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Enel Chile S.A. (NYSE:ENIC) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.38 and traded as high as $4.42. Enel Chile shares last traded at $4.3750, with a volume of 534,039 shares.

Wall Street Analysts Forecast Growth

ENIC has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Enel Chile from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a report on Friday, July 17th. Scotiabank raised Enel Chile to a “strong-buy” rating in a report on Thursday, April 23rd. Itau BBA Securities lowered Enel Chile to a “market perform” rating in a research note on Friday, July 10th. Finally, Btg Pactual set a $5.00 target price on Enel Chile in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Enel Chile presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.65.

Enel Chile Price Performance

The stock has a market cap of $6.29 billion, a P/E ratio of 11.65 and a beta of 1.02. The stock’s 50-day moving average is $4.38 and its two-hundred day moving average is $4.30.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Tuesday, June 30th. The utilities provider reported $0.08 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 $1.07 billion for the quarter. On average, analysts anticipate that Enel Chile S.A. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Enel Chile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in Enel Chile in the 2nd quarter worth approximately $33,000. Bank of America Corp DE grew its holdings in shares of Enel Chile by 872.6% in the first quarter. Bank of America Corp DE now owns 117,225 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 105,172 shares in the last quarter. Amundi bought a new stake in Enel Chile in the first quarter worth $443,000. Royal Bank of Canada raised its stake in Enel Chile by 12.0% during the first quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider’s stock valued at $2,577,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Enel Chile by 13.2% during 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 during the last quarter. 3.20% of the stock is owned by institutional investors.

About Enel Chile

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.