Enel Chile (NYSE:ENIC) Shares Pass Below 50-Day Moving Average – What’s Next?

Shares of Enel Chile S.A. (NYSE:ENIC) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.17 and traded as low as $4.12. Enel Chile shares last traded at $4.2250, with a volume of 431,269 shares.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $4.30 price target on shares of Enel Chile in a research report on Friday, December 12th. Santander cut Enel Chile to a “neutral” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Enel Chile to a “hold” rating in a report on Monday, December 15th. Wall Street Zen upgraded shares of Enel Chile from a “hold” rating to a “buy” rating in a research note on Sunday, November 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Enel Chile presently has a consensus rating of “Hold” and an average price target of $4.30.

Enel Chile Stock Down 0.8%

The firm’s 50 day moving average price is $4.17 and its two-hundred day moving average price is $3.85.

Institutional Investors Weigh In On Enel Chile

Hedge funds have recently bought and sold shares of the business. Savant Capital LLC purchased a new position in shares of Enel Chile during the 2nd quarter valued at approximately $37,000. Cibc World Market Inc. acquired a new position in Enel Chile during the 4th quarter worth $40,000. Foster Group Inc. acquired a new stake in shares of Enel Chile in the 3rd quarter valued at about $42,000. Caprock Group LLC bought a new position in shares of Enel Chile during the third quarter worth about $48,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Enel Chile by 17,522.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 12,336 shares of the utilities provider’s stock valued at $50,000 after buying an additional 12,266 shares during the last quarter. Institutional investors and hedge funds 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.