Enel (OTCMKTS:ENLAY) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Enel SpA (OTCMKTS:ENLAY) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.13 and traded as low as $6.96. Enel shares last traded at $7.04, with a volume of 492,018 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ENLAY. Barclays upgraded Enel to a “strong-buy” rating in a report on Friday, September 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Enel in a report on Wednesday, October 2nd. They issued a “hold” rating for the company.

Enel Stock Down 1.1 %

The stock has a 50-day simple moving average of $7.13 and a 200 day simple moving average of $7.35.

Enel Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.2315 per share. The ex-dividend date is Tuesday, January 21st. This is an increase from Enel’s previous dividend of $0.12.

About Enel

Enel SpA operates as an integrated operator in electricity and gas industries worldwide. It generates, distributes, transmits, and sells electricity; transports and markets natural gas; and constructs and operates generation plants and distribution grids. The company also provides energy management services; e-vehicle charging infrastructure for public and private customers; and engages in the energy commodities business.