Enel Chile (NYSE:ENIC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Enel Chile (NYSE:ENIC) from a hold rating to a buy rating in a research note published on Friday.

Enel Chile Price Performance

NYSE:ENIC traded up $0.08 during mid-day trading on Friday, reaching $2.73. The stock had a trading volume of 321,434 shares, compared to its average volume of 506,134. The stock has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $2.91. The stock has a market capitalization of $3.78 billion, a PE ratio of 5.25 and a beta of 1.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.83. Enel Chile has a 12 month low of $2.52 and a 12 month high of $3.53.

Enel Chile Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Friday, January 1st were paid a dividend of $0.2093 per share. This represents a dividend yield of 7.3%. The ex-dividend date of this dividend was Wednesday, May 22nd. This is a boost from Enel Chile’s previous semi-annual dividend of $0.03. Enel Chile’s payout ratio is presently 38.46%.

Institutional Trading of Enel Chile

A number of hedge funds and other institutional investors have recently modified their holdings of ENIC. Wealthstream Advisors Inc. bought a new stake in shares of Enel Chile during the second quarter worth $29,000. Inspire Investing LLC acquired a new position in shares of Enel Chile during the first quarter worth $32,000. International Assets Investment Management LLC acquired a new position in shares of Enel Chile during the first quarter worth $36,000. Janiczek Wealth Management LLC lifted its holdings in shares of Enel Chile by 161.9% during the first quarter. Janiczek Wealth Management LLC now owns 14,344 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 8,868 shares during the period. Finally, Adero Partners LLC lifted its holdings in shares of Enel Chile by 48.5% during the fourth quarter. Adero Partners LLC now owns 17,289 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 5,644 shares during the period. Institutional investors own 3.20% of the company’s stock.

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.