Enel Chile (NYSE:ENIC) Stock Price Passes Above 50-Day Moving Average of $2.24

Enel Chile S.A. (NYSE:ENIC – Get Rating)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.24 and traded as high as $2.43. Enel Chile shares last traded at $2.35, with a volume of 368,715 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Enel Chile in a research note on Friday. They issued a “buy” rating on the stock.

Enel Chile Stock Up 1.3 %

The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 2.37 and a beta of 0.99. The company has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $1.96.

Hedge Funds Weigh In On Enel Chile

Several large investors have recently made changes to their positions in the business. LPL Financial LLC purchased a new stake in Enel Chile during the fourth quarter worth $25,000. Centiva Capital LP acquired a new stake in Enel Chile in the 4th quarter valued at approximately $25,000. Jane Street Group LLC purchased a new stake in shares of Enel Chile during the 3rd quarter worth $27,000. Ronald Blue Trust Inc. lifted its position in shares of Enel Chile by 1,694.3% during the 4th quarter. Ronald Blue Trust Inc. now owns 23,128 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 21,839 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Enel Chile in the third quarter valued at about $37,000. 2.49% of the stock is currently owned by hedge funds and other institutional investors.

About Enel Chile

(Get Rating)

Enel Chile SA engages in the development, operation, generation, and distribution of electricity. It operates through following segments: Generation, Transmission, and Distribution. The Generation segment supplies electricity to end customers using lines and substations that belong to transmission and distribution companies.