Enel Chile (NYSE:ENIC) Sets New 12-Month High – Here’s Why

Enel Chile S.A. (NYSE:ENIC) hit a new 52-week high during trading on Saturday . The stock traded as high as $4.42 and last traded at $4.3850, with a volume of 400707 shares traded. The stock had previously closed at $4.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Enel Chile to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Wednesday. Wall Street Zen raised shares of Enel Chile from a “hold” rating to a “buy” rating in a research report on Sunday, November 30th. Finally, Morgan Stanley restated an “overweight” rating and set a $4.30 price target on shares of Enel Chile in a research note on Friday, December 12th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.30.

Enel Chile Stock Up 0.3%

The firm has a 50 day moving average price of $4.01 and a two-hundred day moving average price of $3.75.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $0.08 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.03). Enel Chile had a net margin of 1.75% and a return on equity of 1.23%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, sell-side analysts predict that Enel Chile S.A. will post 0.45 earnings per share for the current year.

Hedge Funds Weigh In On Enel Chile

Several institutional investors have recently bought and sold shares of the business. Truist Financial Corp raised its position in shares of Enel Chile by 25.2% during the 3rd quarter. Truist Financial Corp now owns 16,684 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 3,357 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Enel Chile by 1.3% during the third quarter. Hantz Financial Services Inc. now owns 287,814 shares of the utilities provider’s stock worth $1,120,000 after purchasing an additional 3,744 shares during the period. Wealthstream Advisors Inc. lifted its stake in Enel Chile by 24.4% in the third quarter. Wealthstream Advisors Inc. now owns 19,583 shares of the utilities provider’s stock valued at $76,000 after buying an additional 3,835 shares during the period. Bank of Montreal Can boosted its holdings in Enel Chile by 8.2% during the second quarter. Bank of Montreal Can now owns 76,273 shares of the utilities provider’s stock worth $277,000 after buying an additional 5,802 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in shares of Enel Chile by 16.5% during the 3rd quarter. Inspire Advisors LLC now owns 42,963 shares of the utilities provider’s stock worth $167,000 after buying an additional 6,099 shares during the period. Institutional investors own 3.20% of the company’s stock.

About Enel Chile

Enel Chile SA, traded as ENIC on the NYSE, is one of Chile’s leading integrated electric utilities, with core businesses spanning electricity generation, transmission and distribution. The company serves a diverse customer base that includes residential, commercial and industrial users, striving to deliver reliable power across both urban and rural regions.

In its generation segment, Enel Chile operates a balanced portfolio of assets, including hydroelectric plants, thermal power stations and an expanding suite of renewable energy facilities such as wind and solar farms.