Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $28.20 and traded as high as $28.40. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $27.7870, with a volume of 69,003 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently commented on EDN shares. Zacks Research upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research report on Thursday, May 14th. 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 note on Friday, March 27th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 5.15 and a beta of 1.44. The company has a current ratio of 1.19, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $26.09 and its 200-day simple moving average is $28.19.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its quarterly earnings results on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. The company had revenue of $525.20 million during 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%. Analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after purchasing an additional 239,379 shares during the period. Goldman Sachs Group Inc. raised 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 purchasing an additional 27,486 shares in the last quarter. Ping Capital Management Inc. boosted its stake in shares of 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 stake in shares of 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 acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth about $455,000. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

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.