Enel Chile (NYSE:ENIC) Reaches New 12-Month High – Time to Buy?

Shares of Enel Chile S.A. (NYSE:ENIC) reached a new 52-week high during trading on Saturday . The company traded as high as $4.05 and last traded at $4.0350, with a volume of 157721 shares traded. The stock had previously closed at $4.02.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ENIC shares. Zacks Research upgraded Enel Chile to a “hold” rating in a research note on Monday, December 15th. Wall Street Zen raised Enel Chile from a “hold” rating to a “buy” rating in a report on Sunday, November 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a research note on Wednesday, October 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $4.30 target price on shares of Enel Chile in a report on Friday, December 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Enel Chile presently has a consensus rating of “Hold” and an average price target of $4.30.

Enel Chile Stock Performance

The company has a market capitalization of $5.58 billion, a PE ratio of 67.26 and a beta of 1.00. The stock’s 50 day moving average is $3.86 and its 200 day moving average is $3.66.

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

Institutional Investors Weigh In On Enel Chile

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Enel Chile by 10.9% during the first quarter. Invesco Ltd. now owns 445,156 shares of the utilities provider’s stock valued at $1,456,000 after acquiring an additional 43,648 shares in the last quarter. Jump Financial LLC bought a new position in Enel Chile in the 1st quarter worth $34,000. B. Metzler seel. Sohn & Co. AG lifted its holdings in Enel Chile by 3.7% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 112,515 shares of the utilities provider’s stock valued at $368,000 after purchasing an additional 4,000 shares in the last quarter. Vident Advisory LLC lifted its holdings in Enel Chile by 49.0% in the 1st quarter. Vident Advisory LLC now owns 619,130 shares of the utilities provider’s stock worth $2,025,000 after purchasing an additional 203,726 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Enel Chile by 4.6% in the first quarter. Royal Bank of Canada now owns 438,287 shares of the utilities provider’s stock worth $1,433,000 after buying an additional 19,092 shares in the last quarter. Hedge funds and other institutional investors own 3.20% of the company’s stock.

Enel Chile Company Profile

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.