Enel Chile (NYSE:ENIC) Stock Crosses Above 50-Day Moving Average of $2.24

Enel Chile S.A. (NYSE:ENIC – Get Rating)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.24 and traded as high as $2.43. Enel Chile shares last traded at $2.35, with a volume of 368,715 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Enel Chile in a research report on Friday. They set a “buy” rating on the stock.

Enel Chile Stock Performance

The company has a market cap of $3.25 billion, a price-to-earnings ratio of 2.37 and a beta of 0.99. The firm has a fifty day moving average price of $2.24 and a 200 day moving average price of $1.96.

Institutional Investors Weigh In On Enel Chile

Several hedge funds and other institutional investors have recently modified their holdings of ENIC. LPL Financial LLC bought a new position in Enel Chile during the 4th quarter worth approximately $25,000. Centiva Capital LP purchased a new stake in shares of Enel Chile in the fourth quarter worth about $25,000. Jane Street Group LLC bought a new stake in Enel Chile during the third quarter worth approximately $27,000. Ronald Blue Trust Inc. grew its stake in shares of Enel Chile by 1,694.3% during the fourth quarter. Ronald Blue Trust Inc. now owns 23,128 shares of the utilities provider’s stock valued at $32,000 after buying an additional 21,839 shares during the last quarter. Finally, Cibc World Market Inc. bought a new position in shares of Enel Chile during the first quarter valued at approximately $37,000. Institutional investors own 2.49% of the company’s stock.

Enel Chile Company Profile

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Enel Chile SA engages in the development, operation, generation, and distribution of electricity. It operates through following segments: Generation, Transmission, and Distribution. The Generation segment supplies electricity to end customers using lines and substations that belong to transmission and distribution companies.