Enel Chile (NYSE:ENIC) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Enel Chile S.A. (NYSE:ENIC) 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 changing hands.

Analyst Upgrades and Downgrades

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

Enel Chile Trading Up 1.2%

The company’s 50-day simple moving average is $4.36 and its 200-day simple moving average is $4.18. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 11.45 and a beta of 1.03.

Enel Chile (NYSE:ENIC) last posted its quarterly earnings data on Tuesday, March 31st. The utilities provider reported $0.12 EPS for the quarter. The company had revenue of $1.20 billion for the quarter. Enel Chile had a return on equity of 9.50% and a net margin of 11.04%. On average, equities research analysts expect that Enel Chile S.A. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enel Chile

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Enel Chile by 4.8% in the first quarter. PNC Financial Services Group Inc. now owns 50,227 shares of the utilities provider’s stock worth $198,000 after acquiring an additional 2,288 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in Enel Chile by 20.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,031 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 2,840 shares during the period. First Trust Advisors LP grew its holdings in Enel Chile by 21.1% during the 4th quarter. First Trust Advisors LP now owns 17,696 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 3,086 shares during the period. Truist Financial Corp grew its holdings in Enel Chile by 25.2% during the 3rd quarter. Truist Financial Corp now owns 16,684 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 3,357 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Enel Chile by 4.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 112,024 shares of the utilities provider’s stock worth $450,000 after acquiring an additional 4,708 shares during the period. 3.20% of the stock is owned by institutional investors and hedge funds.

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.