Enel Chile (NYSE:ENIC) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Enel Chile S.A. (NYSE:ENIC) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.44 and traded as low as $4.35. Enel Chile shares last traded at $4.39, with a volume of 361,289 shares traded.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ENIC. Wall Street Zen downgraded Enel Chile from a “strong-buy” rating to a “hold” rating in a report on Sunday, May 10th. Itau BBA Securities downgraded Enel Chile to a “market perform” rating in a research report on Friday, July 10th. Btg Pactual set a $5.00 target price on Enel Chile in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.65.

Enel Chile Stock Performance

The company has a market capitalization of $6.14 billion, a PE ratio of 10.57 and a beta of 1.04. The business has a fifty day moving average price of $4.44 and a 200 day moving average price of $4.32.

Enel Chile (NYSE:ENIC) last posted its 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 12.30% and a return on equity of 10.20%. The firm had revenue of $1.07 billion during the quarter. Research 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raiffeisen Bank International AG boosted its position in Enel Chile by 14.5% during the 2nd quarter. Raiffeisen Bank International AG now owns 523,800 shares of the utilities provider’s stock worth $2,326,000 after purchasing an additional 66,300 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Enel Chile during the second quarter worth about $886,000. OneAscent Investment Solutions LLC purchased a new stake in shares of Enel Chile in the second quarter worth about $65,000. Eastern Bank acquired a new stake in shares of Enel Chile in the second quarter valued at about $33,000. Finally, Bank of America Corp DE raised its holdings in shares of Enel Chile by 872.6% during the 1st quarter. Bank of America Corp DE now owns 117,225 shares of the utilities provider’s stock valued at $462,000 after buying an additional 105,172 shares during the period. Institutional investors and hedge funds own 3.20% of the company’s stock.

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.