Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Up 9.6% – Time to Buy?

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) traded up 9.6% on Wednesday . The company traded as high as $30.25 and last traded at $30.35. 94,611 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 75,735 shares. The stock had previously closed at $27.68.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has an average rating of “Hold” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Up 10.3%

The business has a 50-day moving average of $30.93 and a 200-day moving average of $25.99. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 7.30 and a beta of 1.79.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.33% and a net margin of 7.82%.The company had revenue of $536.96 million during the quarter. On average, sell-side analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EDN. Ping Capital Management Inc. boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 2,000 shares in the last quarter. Tidal Investments LLC raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after buying an additional 4,152 shares during the last quarter. Jump Financial LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth about $320,000. Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at approximately $455,000. Finally, BNP Paribas Financial Markets lifted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after acquiring an additional 239,379 shares during the period. 1.64% of the stock is owned by institutional investors and hedge funds.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.