Enel Chile (NYSE:ENIC) Stock 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 $4.17 and traded as low as $4.12. Enel Chile shares last traded at $4.2250, with a volume of 431,269 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ENIC shares. Wall Street Zen raised shares of Enel Chile from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Santander downgraded shares of Enel Chile to a “neutral” rating in a research report on Wednesday, January 28th. Zacks Research upgraded Enel Chile to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday, January 21st. Finally, Morgan Stanley restated an “overweight” rating and set a $4.30 price objective on shares of Enel Chile in a research report on Friday, December 12th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.30.

Enel Chile Price Performance

The business has a fifty day moving average of $4.17 and a 200-day moving average of $3.85.

Institutional Investors Weigh In On Enel Chile

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its position in Enel Chile by 20.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,031 shares of the utilities provider’s stock valued at $68,000 after buying an additional 2,840 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Enel Chile by 21.1% during the fourth quarter. First Trust Advisors LP now owns 17,696 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 3,086 shares during the period. Truist Financial Corp raised its holdings in Enel Chile by 25.2% during the third quarter. Truist Financial Corp now owns 16,684 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 3,357 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Enel Chile by 1.3% in the third quarter. Hantz Financial Services Inc. now owns 287,814 shares of the utilities provider’s stock worth $1,120,000 after purchasing an additional 3,744 shares during the period. Finally, Wealthstream Advisors Inc. increased its position in shares of Enel Chile by 24.4% during the 3rd quarter. Wealthstream Advisors Inc. now owns 19,583 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 3,835 shares during the period. 3.20% of the stock is currently 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.