Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Up 9.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

EDN has been the topic of a number of research analyst reports. 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. Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Friday, March 27th. Finally, Zacks Research upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 3.0%

The business has a 50 day simple moving average of $26.39 and a 200 day simple moving average of $28.37. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.19 and a quick ratio of 1.00. The stock has a market cap of $1.24 billion, a PE ratio of 5.10 and a beta of 1.44.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its earnings results on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 13.79% and a net margin of 10.25%.The firm had revenue of $525.20 million for the quarter. On average, equities research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 EPS for the current fiscal year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several large investors have recently made changes to their positions in EDN. 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 worth $31,000 after acquiring 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 worth $47,000 after acquiring an additional 556 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth about $320,000. Millennium Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth about $366,000. Finally, Militia Capital Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter worth about $447,000. 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.