Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km. “

A number of other research analysts have also weighed in on EDN. BidaskClub raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Monday, August 14th. ValuEngine raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th.

Empresa Distribuidora Y Comercializadora Norte S.A. (NYSE:EDN) traded down $0.03 during mid-day trading on Friday, reaching $44.35. The company’s stock had a trading volume of 37,258 shares, compared to its average volume of 56,075. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 11.32. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1-year low of $23.72 and a 1-year high of $45.50.

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Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 114.6% during the 2nd quarter. Advisor Group Inc. now owns 6,725 shares of the utilities provider’s stock valued at $214,000 after acquiring an additional 3,591 shares during the last quarter. Atria Investments LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $235,000. KCG Holdings Inc. bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter valued at about $388,000. PointState Capital LP bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $474,000. Finally, Renaissance Technologies LLC boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 39.6% during the 1st quarter. Renaissance Technologies LLC now owns 15,000 shares of the utilities provider’s stock valued at $522,000 after acquiring an additional 4,255 shares during the last quarter. Hedge funds and other institutional investors own 7.56% of the company’s stock.

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

Empresa Distribuidora y Comercializadora Norte SA is a public service company. The Company is engaged in electricity distribution in Argentina. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires.

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