Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Raised to “Hold” at Zacks Research

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other equities analysts also recently issued reports 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 analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, 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 Performance

Shares of EDN opened at $22.39 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.19. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.15 and a beta of 1.45. The company’s 50 day simple moving average is $27.07 and its 200 day simple moving average is $29.17. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1 year low of $14.38 and a 1 year high of $38.10.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings data 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%. On average, sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 EPS for the current year.

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

A number of large investors have recently bought and sold shares of the stock. Militia Capital Management LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth approximately $447,000. Millennium Management LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $366,000. State of Wisconsin Investment Board purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth approximately $473,000. Van ECK Associates Corp raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 367 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 556 shares during the period. 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.