Enel Chile (NYSE:ENIC) Sees Large Volume Increase – Here’s Why

Enel Chile S.A. (NYSE:ENIC) saw an uptick in trading volume on Thursday . 5,635,357 shares changed hands during mid-day trading, an increase of 848% from the previous session’s volume of 594,249 shares.The stock last traded at $4.5050 and had previously closed at $4.39.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Santander cut shares of Enel Chile to a “neutral” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of Enel Chile from a “hold” rating to a “buy” rating in a research report on Sunday, March 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Enel Chile in a research report on Monday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enel Chile presently has a consensus rating of “Hold” and an average target price of $4.30.

Enel Chile Stock Up 1.9%

The firm’s 50-day moving average is $4.14 and its 200-day moving average is $4.05. The company has a market cap of $6.19 billion, a PE ratio of 11.19 and a beta of 0.97.

Enel Chile (NYSE:ENIC) last announced its quarterly earnings results on Saturday, February 14th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $1.18 billion for the quarter. Enel Chile had a net margin of 11.53% and a return on equity of 9.81%.

Hedge Funds Weigh In On Enel Chile

Several large investors have recently made changes to their positions in ENIC. Arax Advisory Partners lifted its holdings in shares of Enel Chile by 320.4% during the fourth quarter. Arax Advisory Partners now owns 7,652 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,832 shares during the last quarter. Cibc World Market Inc. purchased a new position in shares of Enel Chile during the fourth quarter valued at approximately $40,000. SmartHarvest Portfolios LLC purchased a new position in shares of Enel Chile during the first quarter valued at approximately $43,000. MML Investors Services LLC bought a new position in shares of Enel Chile in the fourth quarter worth approximately $43,000. Finally, Caprock Group LLC bought a new position in shares of Enel Chile in the third quarter worth approximately $48,000. 3.20% of the stock is currently owned by hedge funds and other institutional investors.

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.