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

Scotiabank lowered shares of Enel Chile (NYSE:ENIC) from a sector outperform rating to a sector perform rating in a research report report published on Friday, MarketBeat 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 report on Friday, August 9th.

Enel Chile Trading Down 3.6 %

Shares of NYSE ENIC opened at $2.70 on Friday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 4.43 and a beta of 1.16. Enel Chile has a 12-month low of $2.51 and a 12-month high of $3.53. The firm’s 50-day moving average price is $2.74 and its 200-day moving average price is $2.80.

Hedge Funds Weigh In On Enel Chile

Several hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC purchased a new stake in shares of Enel Chile in the third quarter worth approximately $1,023,000. Hantz Financial Services Inc. purchased a new stake in Enel Chile in the second quarter worth $786,000. Stifel Financial Corp boosted its stake in shares of Enel Chile by 644.7% during the third quarter. Stifel Financial Corp now owns 208,509 shares of the utilities provider’s stock valued at $582,000 after purchasing an additional 180,509 shares during the period. Marshall Wace LLP bought a new position in shares of Enel Chile in the second quarter worth about $474,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Enel Chile in the 3rd quarter valued at about $453,000. 3.20% of the stock is currently owned by 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.