Enel Chile S.A. (NYSE:ENIC) Stock Position Lowered by Drive Wealth Management LLC

Drive Wealth Management LLC reduced its position in shares of Enel Chile S.A. (NYSE:ENIC) by 26.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,786 shares of the utilities provider’s stock after selling 8,245 shares during the period. Drive Wealth Management LLC’s holdings in Enel Chile were worth $64,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthstream Advisors Inc. bought a new position in shares of Enel Chile in the second quarter valued at $29,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Enel Chile by 1,114,700.0% during the second quarter. Cubist Systematic Strategies LLC now owns 11,148 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 11,147 shares during the last quarter. Savvy Advisors Inc. acquired a new position in shares of Enel Chile in the 3rd quarter valued at $52,000. International Assets Investment Management LLC increased its stake in Enel Chile by 179.0% in the 3rd quarter. International Assets Investment Management LLC now owns 33,832 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 21,706 shares in the last quarter. Finally, Adero Partners LLC lifted its stake in Enel Chile by 119.0% during the second quarter. Adero Partners LLC now owns 34,924 shares of the utilities provider’s stock valued at $98,000 after buying an additional 18,974 shares in the last quarter. 3.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ENIC. StockNews.com upgraded shares of Enel Chile from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Scotiabank decreased their target price on Enel Chile from $4.40 to $3.90 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th.

Enel Chile Price Performance

NYSE ENIC opened at $2.75 on Tuesday. The company has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $2.81. Enel Chile S.A. has a 52-week low of $2.51 and a 52-week high of $3.53. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 4.49 and a beta of 1.16.

Enel Chile Company Profile

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.