Enel Chile (NYSE:ENIC) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• Enel Chile shares fell below their 50-day moving average, trading as low as $4.23 and last changing hands at $4.2950, compared with a 50-day average of $4.42.
• Analyst sentiment remains generally favorable but mixed: the stock carries a “Moderate Buy” consensus rating and a $4.65 average price target, while Itau BBA downgraded it to “market perform” and Weiss Ratings maintained a “hold” rating.
• Enel Chile reported quarterly EPS of $0.08 on $1.07 billion in revenue, with a 12.30% net margin and 10.20% return on equity. Institutional investors own approximately 3.20% of the company, with several hedge funds recently increasing their positions.

Enel Chile S.A. (NYSE:ENIC - Get Free Report)'s stock price passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $4.42 and traded as low as $4.23. Enel Chile shares last traded at $4.2950, with a volume of 472,774 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ENIC. Weiss Ratings reissued a "hold (c)" rating on shares of Enel Chile in a research note on Friday, July 17th. Itau BBA Securities cut shares of Enel Chile to a "market perform" rating in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $4.65.

Enel Chile Stock Performance

The stock's fifty day simple moving average is $4.42 and its two-hundred day simple moving average is $4.35. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 10.23 and a beta of 1.04.

Enel Chile (NYSE:ENIC - Get Free Report) last issued its earnings results on Tuesday, June 30th. The utilities provider reported $0.08 earnings per share for the quarter. The firm had revenue of $1.07 billion for the quarter. Enel Chile had a return on equity of 10.20% and a net margin of 12.30%. Analysts predict that Enel Chile S.A. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Enel Chile

Hedge funds have recently made changes to their positions in the business. Brandes Investment Partners LP lifted its stake in shares of Enel Chile by 2.3% during the fourth quarter. Brandes Investment Partners LP now owns 5,270,748 shares of the utilities provider's stock worth $21,188,000 after purchasing an additional 120,905 shares in the last quarter. Banco BTG Pactual S.A. purchased a new position in Enel Chile in the 4th quarter worth approximately $2,774,000. Royal Bank of Canada grew its position in Enel Chile by 12.0% in the first quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider's stock valued at $2,577,000 after acquiring an additional 70,000 shares in the last quarter. Raiffeisen Bank International AG raised its stake in shares of Enel Chile by 14.5% during the second quarter. Raiffeisen Bank International AG now owns 523,800 shares of the utilities provider's stock valued at $2,326,000 after purchasing an additional 66,300 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Enel Chile during the second quarter worth $886,000. Hedge funds and other institutional investors own 3.20% of the company's stock.

Enel Chile Company Profile

Enel Chile SA is a Chilean energy company engaged in the generation, distribution and sale of electricity. It serves residential, commercial and industrial customers in Chile through a portfolio that includes renewable and conventional power-generation assets, as well as electricity distribution networks.

The company's generation activities include hydroelectric, solar, wind, geothermal and thermal power projects. Through its distribution business, Enel Chile delivers electricity to customers in the Santiago metropolitan area and other parts of Chile, while also developing solutions related to electrification, energy efficiency and distributed energy resources.

Enel Chile is part of the Enel Group, a global energy company headquartered in Italy.

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