Enel Chile (NYSE:ENIC) Trading Down 3.5% - Here's What Happened

Enel Chile S.A. (NYSE:ENIC - Get Free Report) was down 3.5% during trading on Wednesday . The company traded as low as $3.32 and last traded at $3.32. Approximately 281,760 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 469,989 shares. The stock had previously closed at $3.44.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Enel Chile from a "buy" rating to a "hold" rating in a report on Monday, March 3rd.

Enel Chile Trading Down 6.6 %

The firm has a market cap of $3.99 billion, a PE ratio of 4.73 and a beta of 0.99. The business has a fifty day moving average of $3.30 and a 200-day moving average of $2.98.

Institutional Investors Weigh In On Enel Chile

A number of institutional investors have recently made changes to their positions in ENIC. Northern Trust Corp increased its position in shares of Enel Chile by 1,444.7% in the fourth quarter. Northern Trust Corp now owns 804,533 shares of the utilities provider's stock valued at $2,317,000 after acquiring an additional 752,448 shares during the period. JPMorgan Chase & Co. lifted its holdings in 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 buying an additional 451,482 shares during the period. Raiffeisen Bank International AG bought a new position in shares of Enel Chile during the fourth quarter valued at approximately $950,000. Helikon Investments Ltd boosted its holdings in Enel Chile by 14.7% in the fourth quarter. Helikon Investments Ltd now owns 2,112,723 shares of the utilities provider's stock valued at $6,085,000 after acquiring an additional 270,545 shares in the last quarter. Finally, Lingohr Asset Management GmbH bought a new position in Enel Chile in the 4th quarter worth $682,000. Hedge funds and other institutional investors own 3.20% of the company's stock.

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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.