Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) to a hold rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently weighed in on EDN. Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Friday, March 27th. Wall Street Zen raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of “Hold” and an average target price of $36.00.

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

EDN stock opened at $22.39 on Thursday. The firm has a 50-day moving average of $27.07 and a two-hundred day moving average of $29.17. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $38.10. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a market cap 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 quarterly earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share 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%. The business had revenue of $525.20 million during the quarter. 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.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd 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 during the period. Goldman Sachs Group Inc. boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock valued at $2,409,000 after buying an additional 27,486 shares during the period. Ping Capital Management Inc. boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% in the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after buying an additional 2,000 shares during the period. Tidal Investments LLC boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd 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 during the period. Finally, Jane Street Group LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at approximately $455,000. Hedge funds and other institutional investors own 1.64% of the company’s stock.

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