Enel Chile (NYSE:ENIC) Sees Strong Trading Volume - Here's Why

Enel Chile S.A. (NYSE:ENIC - Get Free Report) shares saw strong trading volume on Friday . 1,445,258 shares were traded during mid-day trading, an increase of 151% from the previous session's volume of 576,388 shares.The stock last traded at $3.54 and had previously closed at $3.64.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Enel Chile from a "buy" rating to a "hold" rating in a report on Friday, May 16th.

Enel Chile Trading Down 2.5%

The business's fifty day moving average price is $3.47 and its 200 day moving average price is $3.20. The company has a market capitalization of $4.91 billion, a P/E ratio of 5.82 and a beta of 0.90.

Enel Chile (NYSE:ENIC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $1,054.59 billion during 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%. Equities research analysts anticipate that Enel Chile S.A. will post 0.45 EPS for the current year.

Enel Chile Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were issued a dividend of $0.1779 per share. This represents a yield of 5.8%. The ex-dividend date was Friday, May 16th. Enel Chile's dividend payout ratio is currently 21.43%.

Hedge Funds Weigh In On Enel Chile

Several institutional investors have recently added to or reduced their stakes in ENIC. Caprock Group LLC bought a new position in Enel Chile during the 4th quarter valued at about $32,000. Adero Partners LLC lifted its holdings in Enel Chile by 123.0% during the 4th quarter. Adero Partners LLC now owns 28,823 shares of the utilities provider's stock valued at $83,000 after purchasing an additional 15,900 shares during the last quarter. Advisors Preferred LLC bought a new position in Enel Chile during the 4th quarter valued at about $25,000. Intelligence Driven Advisers LLC bought a new position in Enel Chile during the 4th quarter valued at about $31,000. Finally, Truist Financial Corp bought a new position in shares of Enel Chile in the fourth quarter worth about $38,000. 3.20% of the stock is owned by 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.