Enel Chile (NYSE:ENIC) Shares Gap Down – Time to Sell?

Enel Chile S.A. (NYSE:ENIC)’s stock price gapped down prior to trading 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.

Analysts Set New Price Targets

Several research firms recently weighed in on ENIC. StockNews.com upgraded Enel Chile from a “hold” rating to a “buy” rating in a research 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 target price on the stock. in a research report on Friday.

Enel Chile Stock Performance

The stock has a market capitalization of $3.73 billion, a P/E ratio of 4.43 and a beta of 1.16. The business has a 50-day moving average price of $2.74 and a 200 day moving average price of $2.81.

Institutional Investors Weigh In On Enel Chile

Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its position in shares of Enel Chile by 3.8% in the 2nd quarter. Creative Planning now owns 118,042 shares of the utilities provider’s stock worth $331,000 after purchasing an additional 4,323 shares during the last quarter. Inspire Advisors LLC raised its holdings in Enel Chile by 9.9% in the third quarter. Inspire Advisors LLC now owns 54,622 shares of the utilities provider’s stock worth $152,000 after buying an additional 4,903 shares during the last quarter. Lesa Sroufe & Co lifted its stake in shares of Enel Chile by 0.8% in the second quarter. Lesa Sroufe & Co now owns 700,000 shares of the utilities provider’s stock worth $1,960,000 after buying an additional 5,852 shares in the last quarter. Wealthstream Advisors Inc. bought a new stake in shares of Enel Chile during the second quarter valued at approximately $29,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Enel Chile by 2.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 417,347 shares of the utilities provider’s stock worth $1,169,000 after acquiring an additional 11,000 shares during the last quarter. 3.20% of the stock is owned by institutional investors.

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.