Enel Chile (NYSE:ENIC) Shares Cross Below 50 Day Moving Average of $2.94

Enel Chile S.A. (NYSE:ENIC) crossed 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 trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Enel Chile from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th.

Enel Chile Price Performance

The stock has a market cap of $3.91 billion, a P/E ratio of 5.34 and a beta of 1.16. The business’s 50 day simple moving average is $2.94 and its 200 day simple moving average is $3.03.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Thursday, February 29th. The utilities provider reported $0.29 EPS for the quarter. The firm 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENIC. State Street Corp increased its holdings in shares of Enel Chile by 4.9% during the third quarter. State Street Corp now owns 4,305,660 shares of the utilities provider’s stock worth $5,942,000 after buying an additional 203,012 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Enel Chile by 28.2% during the fourth quarter. Brandes Investment Partners LP now owns 3,586,182 shares of the utilities provider’s stock worth $11,619,000 after buying an additional 789,016 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Enel Chile by 408.3% during the third quarter. AQR Capital Management LLC now owns 2,852,008 shares of the utilities provider’s stock worth $8,442,000 after buying an additional 2,290,952 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Enel Chile by 66.7% during the second quarter. BlackRock Inc. now owns 2,785,227 shares of the utilities provider’s stock worth $9,275,000 after buying an additional 1,113,924 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Enel Chile by 21.3% during the third quarter. Citigroup Inc. now owns 2,552,666 shares of the utilities provider’s stock worth $7,556,000 after buying an additional 447,958 shares in the last quarter. 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.