Enel Chile (NYSE:ENIC) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Enel Chile shares slipped below their 200-day moving average, trading as low as $4.24 before last changing hands at $4.305, below the $4.33 average.
• Analyst sentiment is broadly cautious: the stock has an average “Hold” rating and a consensus price target of $4.65.
• The company beat quarterly estimates, reporting EPS of $0.09 versus $0.08 expected and revenue of $2.42 billion versus analysts’ $1.12 billion forecast.

Enel Chile S.A. (NYSE:ENIC - Get Free Report) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.33 and traded as low as $4.24. Enel Chile shares last traded at $4.3050, with a volume of 438,129 shares.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ENIC. Itau BBA Securities cut shares of Enel Chile to a "market perform" rating in a report on Friday, July 10th. Weiss Ratings restated a "hold (c)" rating on shares of Enel Chile in a report on Thursday, October 15th. Finally, Bank of America initiated coverage on Enel Chile in a research report on Thursday, October 15th. They issued a "neutral" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $4.65.

Enel Chile Trading Down 1.9%

The firm has a fifty day moving average of $4.35 and a 200 day moving average of $4.33. The company has a market capitalization of $5.96 billion, a P/E ratio of 10.01 and a beta of 1.12.

Enel Chile (NYSE:ENIC - Get Free Report) last posted its earnings results on Wednesday, October 28th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $1.12 billion. Enel Chile had a net margin of 12.52% and a return on equity of 10.28%. Sell-side analysts anticipate that Enel Chile S.A. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Enel Chile

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Enel Chile by 12.0% in the 1st quarter. Royal Bank of Canada now owns 654,043 shares of the utilities provider's stock worth $2,577,000 after purchasing an additional 70,000 shares during the period. Raiffeisen Bank International AG boosted its holdings in shares of Enel Chile by 14.5% in the second quarter. Raiffeisen Bank International AG now owns 523,800 shares of the utilities provider's stock worth $2,326,000 after buying an additional 66,300 shares during the last quarter. CWA Asset Management Group LLC grew its position in Enel Chile by 15.5% during the third quarter. CWA Asset Management Group LLC now owns 415,631 shares of the utilities provider's stock valued at $1,758,000 after buying an additional 55,780 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Enel Chile during the third quarter valued at approximately $1,611,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Enel Chile by 9.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 312,407 shares of the utilities provider's stock valued at $1,321,000 after buying an additional 26,765 shares during the last quarter. Hedge funds and other institutional investors own 3.20% of the company's stock.

Enel Chile Company Profile

Enel Chile SA is a Chilean electricity company and part of the global Enel Group. The company operates across the power sector, with activities that include electricity generation, distribution and the development of renewable-energy projects.

Through its generation businesses, including Enel Generación Chile and Enel Green Power Chile, Enel Chile produces electricity from a diversified mix of sources such as hydropower, solar, wind and thermal generation. Its renewable-energy operations support the development and operation of utility-scale clean-energy facilities in Chile.

Enel Chile also provides electricity distribution services through Enel Distribución Chile, serving residential, commercial and industrial customers in the Santiago metropolitan area and surrounding locations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.