Enel Chile (NYSE:ENIC) Hits New 52-Week High - Time to Buy?

Enel Chile S.A. (NYSE:ENIC - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.05 and last traded at $3.99, with a volume of 1526531 shares changing hands. The stock had previously closed at $3.96.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Enel Chile from a "buy" rating to a "hold" rating in a report on Friday.

Enel Chile Stock Performance

The company has a market capitalization of $5.14 billion, a P/E ratio of 6.09 and a beta of 0.90. The firm's fifty day moving average is $3.42 and its 200 day moving average is $3.13.

Enel Chile (NYSE:ENIC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. The company had revenue of $1,054.59 billion for the quarter, compared to the consensus estimate of $1,095.67 billion. Enel Chile had a net margin of 17.33% and a return on equity of 15.48%. On average, analysts forecast that Enel Chile S.A. will post 0.45 EPS for the current year.

Enel Chile Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be given a dividend of $0.1779 per share. This represents a dividend yield of 5.8%. The ex-dividend date is Friday, May 16th. Enel Chile's dividend payout ratio (DPR) is presently 157.14%.

Hedge Funds Weigh In On Enel Chile

Institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new position in Enel Chile during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC increased its holdings in Enel Chile by 318.6% during the first quarter. GAMMA Investing LLC now owns 9,365 shares of the utilities provider's stock valued at $31,000 after buying an additional 7,128 shares during the period. PDS Planning Inc purchased a new position in Enel Chile during the first quarter valued at approximately $33,000. Jump Financial LLC purchased a new position in Enel Chile during the first quarter valued at approximately $34,000. Finally, Johnson Financial Group LLC purchased a new position in Enel Chile during the first quarter valued at approximately $35,000. 3.20% of the stock is owned by hedge funds and other institutional investors.

Enel Chile Company Profile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.