Enel Chile (NYSE:ENIC) Sets New 12-Month High - Still a Buy?

Enel Chile S.A. (NYSE:ENIC - Get Free Report)'s stock price hit 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 trading hands. The stock had previously closed at $3.40.

Wall Street Analysts Forecast Growth

Separately, Scotiabank downgraded 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 Stock Performance

The firm has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $2.83. The company has a market capitalization of $4.70 billion, a PE ratio of 5.55 and a beta of 1.12.

Enel Chile Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ENIC. Northern Trust Corp grew its position in shares of Enel Chile by 1,444.7% in the 4th quarter. Northern Trust Corp now owns 804,533 shares of the utilities provider's stock worth $2,317,000 after acquiring an additional 752,448 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Enel Chile by 56.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,256,695 shares of the utilities provider's stock worth $3,619,000 after acquiring an additional 451,482 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Enel Chile in the 3rd quarter worth approximately $1,023,000. Raiffeisen Bank International AG acquired a new position in shares of Enel Chile in the 4th quarter worth approximately $950,000. Finally, Helikon Investments Ltd boosted its position in Enel Chile by 14.7% during the 4th quarter. Helikon Investments Ltd now owns 2,112,723 shares of the utilities provider's stock valued at $6,085,000 after purchasing an additional 270,545 shares during the period. Institutional investors and hedge funds 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.