Enel Chile (NYSE:ENIC) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• Enel Chile shares fell below their 50-day moving average, trading as low as $4.29 versus the $4.43 average, and last changed hands at $4.3250.
• Analyst sentiment remains moderately positive but cautious: the stock has a consensus “Moderate Buy” rating and a $4.65 price target, although Itau BBA downgraded it to “Market Perform” and most analysts rate it a Hold.
• The company reported quarterly earnings of $0.08 per share on $1.07 billion in revenue, with a 12.3% net margin and 10.2% return on equity; analysts expect full-year earnings of approximately $0.47 per share.

Enel Chile S.A. (NYSE:ENIC - Get Free Report) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.43 and traded as low as $4.29. Enel Chile shares last traded at $4.3250, with a volume of 569,263 shares.

Wall Street Analysts Forecast Growth

ENIC has been the topic of a number of recent analyst reports. Itau BBA Securities cut 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 research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.65.

Enel Chile Trading Up 0.3%

The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 10.30 and a beta of 1.04. The firm's fifty day moving average price is $4.43 and its 200 day moving average price is $4.34.

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

Institutional Trading of Enel Chile

A number of institutional investors and hedge funds have recently bought and sold shares of ENIC. Brandes Investment Partners LP lifted its holdings in Enel Chile by 2.3% during the 4th quarter. Brandes Investment Partners LP now owns 5,270,748 shares of the utilities provider's stock worth $21,188,000 after buying an additional 120,905 shares in the last quarter. Banco BTG Pactual S.A. purchased a new position in Enel Chile in the fourth quarter valued at $2,774,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Enel Chile during the 4th quarter worth $2,629,000. Royal Bank of Canada increased its holdings in Enel Chile by 12.0% during 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. Finally, Raiffeisen Bank International AG raised its position in Enel Chile by 14.5% in the 2nd 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 in the last quarter. 3.20% of the stock is currently owned by hedge funds and other institutional investors.

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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