Enel Chile (NYSE:ENIC) Lowered to “Sector Perform” Rating by Scotiabank

Scotiabank cut shares of Enel Chile (NYSE:ENIC) from a sector outperform rating to a sector perform rating in a report published on Friday morning, MarketBeat reports. The brokerage currently has $3.90 target price on the utilities provider’s stock.

Separately, StockNews.com upgraded Enel Chile from a “hold” rating to a “buy” rating in a research note on Friday, August 9th.

Enel Chile Price Performance

Enel Chile stock opened at $2.70 on Friday. Enel Chile has a fifty-two week low of $2.51 and a fifty-two week high of $3.53. The firm has a market capitalization of $3.73 billion, a PE ratio of 4.43 and a beta of 1.16. The company’s 50-day moving average is $2.74 and its 200-day moving average is $2.81.

Hedge Funds Weigh In On Enel Chile

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealthstream Advisors Inc. acquired a new stake in shares of Enel Chile during the 2nd quarter worth about $29,000. Cubist Systematic Strategies LLC raised its holdings in Enel Chile by 1,114,700.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,148 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 11,147 shares during the period. Savvy Advisors Inc. acquired a new stake in Enel Chile during the third quarter worth approximately $52,000. Townsquare Capital LLC acquired a new position in shares of Enel Chile in the third quarter valued at approximately $65,000. Finally, International Assets Investment Management LLC increased its stake in shares of Enel Chile by 179.0% during the third quarter. International Assets Investment Management LLC now owns 33,832 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 21,706 shares during the period. 3.20% of the stock is currently owned by institutional investors and hedge funds.

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.