Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading 9.9% Higher – Here’s Why

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s stock price traded up 9.9% during trading on Thursday . The company traded as high as $28.27 and last traded at $28.4960. 24,196 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 142,661 shares. The stock had previously closed at $25.93.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Performance

The firm has a market cap of $1.28 billion, a P/E ratio of 5.24 and a beta of 1.44. The company has a current ratio of 1.19, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $26.48 and its 200-day simple moving average is $28.38.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter. The business had revenue of $525.20 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 10.25% and a return on equity of 13.79%. As a group, sell-side analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of large investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 367 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 556 shares in the last quarter. Ping Capital Management Inc. boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% during the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 2,000 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of 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 valued at $490,000 after purchasing an additional 4,152 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $320,000. Institutional investors own 1.64% of the company’s stock.

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.