Enel Chile (NYSE:ENIC) Shares Down 3.5% - Here's Why

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 TargetsSeparately, 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 ChileEnel 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 ChileLarge 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.Further ReadingFive stocks we like better than Enel ChileConference Calls and Individual InvestorsHomebuilders in Freefall: Bargain Opportunity or Falling Knife?What is a Dividend King? The 3 Most Talked About Investments on WallStreetBets Right NowWhat is the NASDAQ Stock Exchange?Analyst Targets Signal More Growth in CrowdStrike StockThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Enel Chile Right Now?Before you consider Enel Chile, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Enel Chile wasn't on the list.While Enel Chile currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here