Enel Chile (NYSE:ENIC) Shares Gap Down - Here's Why

Key Points

• Enel Chile shares gapped down at Friday’s open, starting at $4.31 after closing at $4.46, though they later traded back near $4.46.
• Analyst sentiment is mixed but cautious: recent moves included a downgrade by Itau BBA Securities and a cut by Wall Street Zen, while Scotiabank raised its rating. The stock’s consensus rating is currently Hold with an average price target of $4.65.
• The utility reported quarterly EPS of $0.12 on $1.20 billion in revenue, and analysts expect full-year EPS of about $0.46. Enel Chile also has a market cap of $6.15 billion and a P/E ratio of 11.40.

Shares of Enel Chile S.A. (NYSE:ENIC - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $4.46, but opened at $4.31. Enel Chile shares last traded at $4.4550, with a volume of 32,427 shares traded.

Wall Street Analysts Forecast Growth

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

Enel Chile Price Performance

The business has a fifty day simple moving average of $4.39 and a 200 day simple moving average of $4.27. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 11.40 and a beta of 1.02.

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

Hedge Funds Weigh In On Enel Chile

Hedge funds and other institutional investors have recently modified their holdings of the business. Arax Advisory Partners grew its stake in Enel Chile by 320.4% during the 4th quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 5,832 shares in the last quarter. Eastern Bank purchased a new position in Enel Chile in the 2nd quarter worth approximately $33,000. Cibc World Market Inc. acquired a new position in shares of Enel Chile during the 4th quarter worth approximately $40,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Enel Chile in the first quarter valued at approximately $41,000. Finally, SmartHarvest Portfolios LLC acquired a new stake in shares of Enel Chile in the first quarter valued at approximately $43,000. 3.20% of the stock is owned by hedge funds and other institutional investors.

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.

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