Enel Chile (NYSE:ENIC) Shares Up 4.8% – Time to Buy?

Enel Chile S.A. (NYSE:ENIC)’s stock price was up 4.8% during mid-day trading on Tuesday . The stock traded as high as $3.44 and last traded at $3.43. Approximately 735,371 shares changed hands during trading, an increase of 20% from the average daily volume of 613,460 shares. The stock had previously closed at $3.27.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Enel Chile from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd.

Enel Chile Trading Up 5.4 %

The firm has a market capitalization of $4.77 billion, a P/E ratio of 5.65 and a beta of 1.12. The stock’s 50-day simple moving average is $3.27 and its 200-day simple moving average is $2.96.

Institutional Trading of Enel Chile

Institutional investors and hedge funds have recently modified their holdings of the business. Raiffeisen Bank International AG bought a new position in Enel Chile in the 4th quarter valued at $950,000. OMERS ADMINISTRATION Corp bought a new position in Enel Chile during the fourth quarter valued at about $44,000. Millennium Management LLC increased its holdings in Enel Chile by 10.1% during the fourth quarter. Millennium Management LLC now owns 669,763 shares of the utilities provider’s stock worth $1,929,000 after buying an additional 61,531 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Enel Chile by 9.0% in the fourth quarter. Lazard Asset Management LLC now owns 74,616 shares of the utilities provider’s stock valued at $214,000 after acquiring an additional 6,173 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in shares of Enel Chile during the 4th quarter valued at approximately $42,000. 3.20% of the stock is owned by hedge funds and other 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.