Enel Chile (NYSE:ENIC) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank downgraded shares of Enel Chile (NYSE:ENIC) from a sector outperform rating to a sector perform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have $3.90 target price on the utilities provider’s stock.

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

Enel Chile Price Performance

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

Institutional Investors Weigh In On Enel Chile

Several institutional investors have recently bought and sold shares of the company. Wealthstream Advisors Inc. acquired a new stake in shares of Enel Chile in the second quarter valued at approximately $29,000. Cubist Systematic Strategies LLC increased its stake 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 buying an additional 11,147 shares during the last quarter. Savvy Advisors Inc. bought a new stake in Enel Chile during the 3rd quarter worth about $52,000. Townsquare Capital LLC acquired a new position in shares of Enel Chile during the 3rd quarter worth about $65,000. Finally, International Assets Investment Management LLC increased its position in shares of Enel Chile by 179.0% in the third quarter. International Assets Investment Management LLC now owns 33,832 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 21,706 shares during the last quarter. 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.