Enel Chile (NYSE:ENIC) Rating Lowered to "Sector Perform" at Scotiabank

Scotiabank downgraded shares of Enel Chile (NYSE:ENIC - Free Report) from a sector outperform rating to a sector perform rating in a research report report published on Friday morning, Marketbeat Ratings reports. Scotiabank 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 report on Friday, August 9th.

Enel Chile Price Performance

ENIC traded down $0.10 during trading on Friday, hitting $2.70. 307,985 shares of the stock traded hands, compared to its average volume of 484,724. The firm has a market capitalization of $3.73 billion, a P/E ratio of 4.59 and a beta of 1.16. The firm has a 50-day moving average of $2.74 and a 200 day moving average of $2.81. Enel Chile has a 12-month low of $2.51 and a 12-month high of $3.53.

Hedge Funds Weigh In On Enel Chile

Large investors have recently made changes to their positions in the business. Creative Planning grew its holdings in shares of Enel Chile by 3.8% during the second quarter. Creative Planning now owns 118,042 shares of the utilities provider's stock valued at $331,000 after buying an additional 4,323 shares during the last quarter. Inspire Advisors LLC increased its holdings in Enel Chile by 9.9% in the 3rd quarter. Inspire Advisors LLC now owns 54,622 shares of the utilities provider's stock worth $152,000 after buying an additional 4,903 shares in the last quarter. Lesa Sroufe & Co boosted its holdings in shares of Enel Chile by 0.8% during the 2nd quarter. Lesa Sroufe & Co now owns 700,000 shares of the utilities provider's stock valued at $1,960,000 after acquiring an additional 5,852 shares during the last quarter. Wealthstream Advisors Inc. bought a new position in Enel Chile during the second quarter valued at approximately $29,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Enel Chile by 2.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 417,347 shares of the utilities provider's stock worth $1,169,000 after purchasing an additional 11,000 shares during the period. 3.20% of the stock is currently owned by hedge funds and other institutional investors.

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.