Enel Chile (NYSE:ENIC) Hits New 12-Month High Following Strong Earnings

Enel Chile S.A. (NYSE:ENIC)’s share price hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $4.63 and last traded at $4.5950, with a volume of 1134221 shares changing hands. The stock had previously closed at $4.33.

The utilities provider reported $0.12 EPS for the quarter. The business had revenue of $1.20 billion for the quarter. Enel Chile had a net margin of 11.04% and a return on equity of 9.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ENIC shares. Santander lowered shares of Enel Chile to a “neutral” rating in a report on Wednesday, January 28th. Wall Street Zen raised shares of Enel Chile from a “buy” rating to a “strong-buy” rating in a report on Saturday. Scotiabank raised shares of Enel Chile to a “strong-buy” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Enel Chile in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.30.

Institutional Investors Weigh In On Enel Chile

Institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new stake in Enel Chile in the third quarter valued at approximately $845,000. Hennion & Walsh Asset Management Inc. boosted its stake in Enel Chile by 183.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 251,731 shares of the utilities provider’s stock valued at $1,012,000 after acquiring an additional 163,022 shares in the last quarter. Ethic Inc. boosted its stake in Enel Chile by 89.2% in the third quarter. Ethic Inc. now owns 59,307 shares of the utilities provider’s stock valued at $231,000 after acquiring an additional 27,967 shares in the last quarter. Caprock Group LLC acquired a new stake in Enel Chile in the third quarter valued at approximately $48,000. Finally, Advisors Asset Management Inc. boosted its stake in Enel Chile by 226.7% in the third quarter. Advisors Asset Management Inc. now owns 145,670 shares of the utilities provider’s stock valued at $567,000 after acquiring an additional 101,086 shares in the last quarter. 3.20% of the stock is currently owned by institutional investors and hedge funds.

Enel Chile Stock Down 1.4%

The company’s 50 day simple moving average is $4.17 and its two-hundred day simple moving average is $4.08. The company has a market capitalization of $6.18 billion, a price-to-earnings ratio of 11.45 and a beta of 0.97.

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.