Enel Chile (NYSE:ENIC) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Enel Chile S.A. (NYSE:ENIC) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.38 and traded as low as $4.38. Enel Chile shares last traded at $4.4050, with a volume of 507,705 shares changing hands.

Analyst Ratings Changes

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

Enel Chile Trading Up 0.1%

The company has a market capitalization of $6.09 billion, a P/E ratio of 11.30 and a beta of 1.02. The company has a 50 day moving average price of $4.38 and a 200 day moving average price of $4.28.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Tuesday, March 31st. The utilities provider reported $0.12 earnings per share (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. As a group, sell-side analysts forecast that Enel Chile S.A. will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in Enel Chile during the second quarter worth approximately $33,000. Bank of America Corp DE increased its stake 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 purchasing an additional 105,172 shares during the period. Amundi bought a new stake in Enel Chile in the 1st quarter valued at $443,000. Royal Bank of Canada grew its holdings in Enel Chile by 12.0% in the 1st quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider’s stock valued at $2,577,000 after buying an additional 70,000 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Enel Chile by 13.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 177,103 shares of the utilities provider’s stock worth $698,000 after buying an additional 20,625 shares during the period. 3.20% of the stock is owned by 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.