Enel Chile (NYSE:ENIC) Shares Down 3.5% - Here's Why
Enel Chile (NYSE:ENIC) shares fell 3.5% to $3.32 during mid-day trading, with a trading volume decline of 40% from the average. Analysts downgraded the stock from a "buy" to a "hold" rating. The company has a market cap of $4.59 billion and a P/E ratio of 5.44. Institutional investors own 3.20% of the stock, with several large investors acquiring new stakes recently. Enel Chile operates in electricity generation, transmission, and distribution in Chile.
Enel Chile S.A. (NYSE:ENIC - Get Free Report) shares were down 3.5% during mid-day trading on Wednesday . The stock traded as low as $3.32 and last traded at $3.32. Approximately 281,760 shares changed hands 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.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Enel Chile from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd.
Get Our Latest Analysis on Enel Chile
Enel Chile Trading Down 3.5 %
The firm has a fifty day simple moving average of $3.28 and a 200-day simple moving average of $2.96. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 5.44 and a beta of 1.12.
Hedge Funds Weigh In On Enel Chile
Large investors have recently bought and sold shares of the company. Advisors Preferred LLC bought a new stake in shares of Enel Chile in the fourth quarter worth $25,000. Intelligence Driven Advisers LLC bought a new stake in Enel Chile during the 4th quarter worth about $31,000. Caprock Group LLC acquired a new stake in shares of Enel Chile in the fourth quarter valued at about $32,000. Wealthstream Advisors Inc. bought a new stake in Enel Chile during the fourth quarter worth about $37,000. Finally, Truist Financial Corp acquired a new stake in shares of Enel Chile in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 3.20% of the company's stock.
Enel Chile Company Profile
(Get Free Report)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.
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