Enel Chile (NYSE:ENIC) Shares Gap Down - Should You Sell?

Enel Chile S.A. (NYSE:ENIC - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $2.80, but opened at $2.72. Enel Chile shares last traded at $2.74, with a volume of 19,952 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on ENIC shares. StockNews.com raised Enel Chile from a "hold" rating to a "buy" rating in a report on Friday, August 9th. Scotiabank downgraded shares of Enel Chile from a "sector outperform" rating to a "sector perform" rating and set a $3.90 price objective on the stock. in a report on Friday.

Enel Chile Price Performance

The company has a market capitalization of $3.73 billion, a P/E ratio of 4.43 and a beta of 1.16. The firm has a fifty day moving average price of $2.74 and a 200-day moving average price of $2.81.

Institutional Investors Weigh In On Enel Chile

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in Enel Chile during the third quarter valued at about $453,000. State Street Corp lifted its stake in shares of Enel Chile by 0.6% during the 3rd quarter. State Street Corp now owns 2,933,466 shares of the utilities provider's stock valued at $8,184,000 after buying an additional 18,334 shares in the last quarter. Stifel Financial Corp grew its stake in Enel Chile by 644.7% in the 3rd quarter. Stifel Financial Corp now owns 208,509 shares of the utilities provider's stock valued at $582,000 after buying an additional 180,509 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Enel Chile during the third quarter worth $1,023,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Enel Chile by 100.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 214,632 shares of the utilities provider's stock worth $599,000 after acquiring an additional 107,316 shares during the period. Hedge funds and other institutional investors own 3.20% of the company's stock.

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.