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

Enel Chile S.A. (NYSE:ENIC) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.45 and traded as low as $4.43. Enel Chile shares last traded at $4.47, with a volume of 552,838 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENIC shares. Wall Street Zen lowered Enel Chile from a “strong-buy” rating to a “hold” rating in a research note on Sunday, May 10th. Itau BBA Securities cut shares of Enel Chile to a “market perform” rating in a research report on Friday, July 10th. Btg Pactual set a $5.00 price objective on shares of Enel Chile in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enel Chile in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.65.

Enel Chile Trading Down 1.8%

The firm has a market cap of $6.03 billion, a PE ratio of 10.38 and a beta of 1.04. The firm has a 50 day moving average price of $4.45 and a 200-day moving average price of $4.32.

Enel Chile (NYSE:ENIC) last issued its earnings results on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share for the quarter. Enel Chile had a net margin of 12.30% and a return on equity of 10.20%. The firm had revenue of $1.07 billion for the quarter. Equities analysts forecast that Enel Chile S.A. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enel Chile

Several large investors have recently bought and sold shares of ENIC. Banco BTG Pactual S.A. acquired a new position in shares of Enel Chile during the 4th quarter worth about $2,774,000. Amundi purchased a new stake in Enel Chile during the first quarter worth approximately $443,000. Brandes Investment Partners LP boosted its holdings in Enel Chile by 2.3% in the fourth quarter. Brandes Investment Partners LP now owns 5,270,748 shares of the utilities provider’s stock valued at $21,188,000 after purchasing an additional 120,905 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Enel Chile in the fourth quarter valued at approximately $2,629,000. Finally, Argos Wealth Advisors LLC acquired a new stake in Enel Chile during the fourth quarter worth approximately $86,000. Hedge funds and other institutional investors own 3.20% of the company’s stock.

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.