Enel Chile (NYSE:ENIC) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Enel Chile S.A. (NYSE:ENIC)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $4.34 and traded as low as $4.18. Enel Chile shares last traded at $4.2350, with a volume of 660,887 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on ENIC shares. Wall Street Zen lowered shares of Enel Chile from a “strong-buy” rating to a “hold” rating in a research report on Sunday, May 10th. Scotiabank upgraded shares of Enel Chile to a “strong-buy” rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Enel Chile in a research report on Monday, April 20th. Finally, Btg Pactual set a $5.00 target price on shares of Enel Chile in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.65.

Enel Chile Price Performance

The stock has a 50 day moving average price of $4.34 and a 200-day moving average price of $4.17. The stock has a market capitalization of $5.86 billion, a P/E ratio of 10.86 and a beta of 1.03.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings data 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 firm had revenue of $1.20 billion for the quarter. Research analysts predict that Enel Chile S.A. will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ENIC. Banco BTG Pactual S.A. bought a new position in shares of Enel Chile during the fourth quarter valued at about $2,774,000. Wellington Management Group LLP boosted its holdings in shares of Enel Chile by 48.4% during the fourth quarter. Wellington Management Group LLP now owns 2,042,904 shares of the utilities provider’s stock worth $8,212,000 after purchasing an additional 666,544 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Enel Chile during the fourth quarter worth about $2,629,000. Jump Financial LLC boosted its holdings in shares of Enel Chile by 5,592.9% during the second quarter. Jump Financial LLC now owns 584,202 shares of the utilities provider’s stock worth $2,121,000 after purchasing an additional 573,940 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Enel Chile during the third quarter worth about $1,408,000. 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.