Enel Chile (NYSE:ENIC) Hits New 1-Year High - Still a Buy?

Enel Chile S.A. (NYSE:ENIC - Get Free Report) shares reached a new 52-week high during trading on Thursday . The company traded as high as $3.31 and last traded at $3.30, with a volume of 370325 shares. The stock had previously closed at $3.24.

Analysts Set New Price Targets

Separately, Scotiabank lowered Enel Chile from a "sector outperform" rating to a "sector perform" rating and set a $3.90 target price on the stock. in a report on Friday, November 22nd.

Enel Chile Price Performance

The firm has a market capitalization of $4.71 billion, a PE ratio of 5.58 and a beta of 1.12. The company has a 50-day moving average price of $2.97 and a 200-day moving average price of $2.82.

Enel Chile Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 17th were paid a dividend of $0.0463 per share. This is a boost from Enel Chile's previous dividend of $0.03. The ex-dividend date of this dividend was Friday, January 17th. Enel Chile's dividend payout ratio (DPR) is currently 36.07%.

Hedge Funds Weigh In On Enel Chile

Several institutional investors and hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP raised its holdings in Enel Chile by 2.7% in the 4th quarter. Brandes Investment Partners LP now owns 5,707,753 shares of the utilities provider's stock valued at $16,438,000 after acquiring an additional 152,430 shares during the last quarter. State Street Corp increased its stake in Enel Chile by 0.6% in the third quarter. State Street Corp now owns 2,933,466 shares of the utilities provider's stock valued at $8,184,000 after purchasing an additional 18,334 shares during the last quarter. Renaissance Technologies LLC lifted its position in Enel Chile by 1.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,512,771 shares of the utilities provider's stock worth $7,237,000 after buying an additional 38,783 shares during the period. Helikon Investments Ltd boosted its stake in Enel Chile by 14.7% in the 4th quarter. Helikon Investments Ltd now owns 2,112,723 shares of the utilities provider's stock worth $6,085,000 after buying an additional 270,545 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Enel Chile by 13.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,482,326 shares of the utilities provider's stock valued at $4,269,000 after acquiring an additional 172,383 shares during the last quarter. Hedge funds and other institutional investors own 3.20% of the company's stock.

Enel Chile Company Profile

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.