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

Shares of 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 Analysts Forecast Growth

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

Enel Chile Stock Performance

The company has a 50 day simple moving average of $2.95 and a 200 day simple moving average of $3.03. The company has a market capitalization of $4.04 billion, a PE ratio of 5.51 and a beta of 1.16.

Enel Chile (NYSE:ENIC) last posted its quarterly earnings data on Thursday, February 29th. The utilities provider reported $0.29 EPS for the quarter. Enel Chile had a return on equity of 127.33% and a net margin of 14.69%. The company had revenue of $1.15 billion during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Enel Chile by 4.9% in the third quarter. State Street Corp now owns 4,305,660 shares of the utilities provider’s stock valued at $5,942,000 after acquiring an additional 203,012 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Enel Chile by 28.2% in the fourth quarter. Brandes Investment Partners LP now owns 3,586,182 shares of the utilities provider’s stock valued at $11,619,000 after acquiring an additional 789,016 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Enel Chile by 408.3% in the third quarter. AQR Capital Management LLC now owns 2,852,008 shares of the utilities provider’s stock valued at $8,442,000 after acquiring an additional 2,290,952 shares during the last quarter. BlackRock Inc. lifted its holdings in Enel Chile by 66.7% in the second quarter. BlackRock Inc. now owns 2,785,227 shares of the utilities provider’s stock valued at $9,275,000 after acquiring an additional 1,113,924 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in Enel Chile by 21.3% in the third quarter. Citigroup Inc. now owns 2,552,666 shares of the utilities provider’s stock valued at $7,556,000 after acquiring an additional 447,958 shares during the last quarter. 3.20% of the stock is currently owned by institutional investors and hedge funds.

About Enel Chile

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.