Enel Chile (NYSE:ENIC) Sees Strong Trading Volume - Time to Buy?

Shares of Enel Chile S.A. (NYSE:ENIC - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 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.

Analysts Set New Price Targets

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

Enel Chile Price Performance

The business has a 50 day moving average price of $3.48 and a 200 day moving average price of $3.20. The stock has a market cap 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 posted 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. Enel Chile had a net margin of 17.33% and a return on equity of 15.48%. The business had revenue of $1,054.59 billion during the quarter, compared to analyst estimates of $1,095.67 billion. On average, research analysts expect that Enel Chile S.A. will post 0.45 earnings per share for the current fiscal year.

Enel Chile Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were paid a $0.1779 dividend. This represents a yield of 5.8%. The ex-dividend date was Friday, May 16th. Enel Chile's dividend payout ratio (DPR) is presently 7.14%.

Institutional Investors Weigh In On Enel Chile

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC purchased a new position in Enel Chile in the fourth quarter valued at $32,000. Adero Partners LLC raised its holdings in Enel Chile by 123.0% in the 4th quarter. Adero Partners LLC now owns 28,823 shares of the utilities provider's stock worth $83,000 after purchasing an additional 15,900 shares during the period. Advisors Preferred LLC acquired a new stake in Enel Chile in the fourth quarter valued at approximately $25,000. Intelligence Driven Advisers LLC acquired a new position in shares of Enel Chile during the 4th quarter worth approximately $31,000. Finally, Truist Financial Corp purchased a new position in shares of Enel Chile during the 4th quarter valued at approximately $38,000. 3.20% of the stock is currently owned by institutional investors and hedge funds.

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.