Enel Chile (NYSE:ENIC) Stock Passes Below 50-Day Moving Average of $2.94

Enel Chile S.A. (NYSE:ENIC - Get Free Report)'s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.94 and traded as low as $2.82. Enel Chile shares last traded at $2.83, with a volume of 310,312 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Enel Chile from a "buy" rating to a "hold" rating in a report on Saturday, February 17th.

Enel Chile Trading Up 2.7 %

The company has a market capitalization of $4.00 billion, a PE ratio of 5.46 and a beta of 1.16. The firm's 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.03.

Enel Chile (NYSE:ENIC - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter. The company had revenue of $1.15 billion during the quarter. Enel Chile had a net margin of 14.69% and a return on equity of 127.33%.

Institutional Investors Weigh In On Enel Chile

Several hedge funds have recently modified their holdings of the business. Janiczek Wealth Management LLC lifted its position in shares of Enel Chile by 161.9% in the 1st quarter. Janiczek Wealth Management LLC now owns 14,344 shares of the utilities provider's stock worth $44,000 after purchasing an additional 8,868 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Enel Chile in the 1st quarter worth approximately $36,000. Quadrature Capital Ltd lifted its position in shares of Enel Chile by 23.6% in the 4th quarter. Quadrature Capital Ltd now owns 170,079 shares of the utilities provider's stock worth $549,000 after purchasing an additional 32,442 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Enel Chile by 348.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 83,940 shares of the utilities provider's stock worth $272,000 after acquiring an additional 65,212 shares in the last quarter. Finally, Tucker Asset Management LLC bought a new position in shares of Enel Chile during the 4th quarter worth approximately $117,000. Hedge funds and other institutional investors own 3.20% of the company's stock.

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.