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

Enel Chile S.A. (NYSE:ENIC)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analyst Weigh In

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

Enel Chile Price Performance

The stock’s 50 day simple moving average is $4.34 and its two-hundred day simple moving average is $4.17. The firm has a market cap of $5.86 billion, a P/E ratio of 10.86 and a beta of 1.03.

Enel Chile (NYSE:ENIC) last announced its earnings results on Tuesday, March 31st. The utilities provider reported $0.12 earnings per share for the quarter. The business had revenue of $1.20 billion during the quarter. Enel Chile had a net margin of 11.04% and a return on equity of 9.50%. Equities research analysts anticipate that Enel Chile S.A. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Enel Chile

A number of large investors have recently added to or reduced their stakes in ENIC. Banco BTG Pactual S.A. bought a new stake in Enel Chile in the 4th quarter worth approximately $2,774,000. Wellington Management Group LLP grew its position in Enel Chile by 48.4% in the 4th 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. bought a new stake in Enel Chile in the 4th quarter worth approximately $2,629,000. Jump Financial LLC grew its position in Enel Chile by 5,592.9% in the 2nd 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 bought a new stake in Enel Chile in the 3rd quarter worth approximately $1,408,000. 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.