Helikon Investments Ltd Lowers Stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) $EDN

Helikon Investments Ltd trimmed its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,601,316 shares of the utilities provider’s stock after selling 186,969 shares during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) accounts for approximately 2.5% of Helikon Investments Ltd’s portfolio, making the stock its 12th largest holding. Helikon Investments Ltd owned about 3.53% of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) worth $47,975,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of EDN. Ping Capital Management Inc. increased its position in 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 worth $1,570,000 after purchasing an additional 2,000 shares in the last quarter. Tidal Investments LLC lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after buying an additional 4,152 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after buying an additional 239,379 shares in the last quarter. Jane Street Group LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth approximately $455,000. Finally, Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth $320,000. 1.64% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 4.7%

Shares of NYSE:EDN opened at $22.39 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52-week low of $14.38 and a 52-week high of $38.10. The company has a 50 day moving average of $27.07 and a two-hundred day moving average of $29.17. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.15 and a beta of 1.45.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its earnings results on Sunday, February 15th. The utilities provider reported $0.80 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, analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EDN has been the topic of a number of research reports. Zacks Research raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research note on Thursday. Wall Street Zen upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Friday, March 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

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

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.