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

Enel Chile (NYSE:ENIC) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

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

Enel Chile Stock Performance

Shares of ENIC stock opened at $2.80 on Friday. The stock has a market capitalization of $3.87 billion, a P/E ratio of 4.59 and a beta of 1.16. Enel Chile has a fifty-two week low of $2.51 and a fifty-two week high of $3.53. The company has a 50 day moving average price of $2.74 and a 200 day moving average price of $2.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENIC. Wealthstream Advisors Inc. purchased a new stake in shares of Enel Chile during the 2nd quarter worth $29,000. Cubist Systematic Strategies LLC boosted its position in shares of Enel Chile by 1,114,700.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,148 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 11,147 shares in the last quarter. Savvy Advisors Inc. purchased a new position in shares of Enel Chile in the 3rd quarter valued at about $52,000. Townsquare Capital LLC purchased a new stake in Enel Chile during the third quarter worth approximately $65,000. Finally, International Assets Investment Management LLC increased its stake in 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 purchasing an additional 21,706 shares during the last quarter. Institutional investors and hedge funds 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.