Enel Chile (NYSE:ENIC) Reaches New 52-Week High – Here’s Why

Shares of Enel Chile S.A. (NYSE:ENIC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $3.43 and last traded at $3.42, with a volume of 280028 shares. The stock had previously closed at $3.40.

Analyst Upgrades and Downgrades

Separately, Scotiabank downgraded shares of Enel Chile from a “sector outperform” rating to a “sector perform” rating and set a $3.90 price target on the stock. in a research note on Friday, November 22nd.

Enel Chile Trading Up 0.1 %

The firm has a market cap of $4.70 billion, a PE ratio of 5.58 and a beta of 1.12. The business’s 50-day simple moving average is $3.02 and its 200 day simple moving average is $2.83.

Enel Chile Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were given a dividend of $0.0463 per share. This is an increase from Enel Chile’s previous dividend of $0.03. The ex-dividend date was Friday, January 17th. Enel Chile’s dividend payout ratio (DPR) is 36.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Raiffeisen Bank International AG purchased a new position in Enel Chile during the 4th quarter valued at about $950,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Enel Chile in the 4th quarter valued at about $44,000. Millennium Management LLC boosted its holdings in shares of Enel Chile by 10.1% in the 4th quarter. Millennium Management LLC now owns 669,763 shares of the utilities provider’s stock valued at $1,929,000 after buying an additional 61,531 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Enel Chile by 9.0% in the 4th quarter. Lazard Asset Management LLC now owns 74,616 shares of the utilities provider’s stock valued at $214,000 after buying an additional 6,173 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Enel Chile in the 4th quarter valued at about $42,000. Hedge funds and other 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.