Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) Shares Up 5.2%

Shares of Empresa Distribuidora y Cmrz Nrt SA (NYSE:EDN) shot up 5.2% during trading on Friday . The company traded as high as $6.02 and last traded at $5.86, 116,200 shares changed hands during mid-day trading. An increase of 35% from the average session volume of 86,297 shares. The stock had previously closed at $5.57.

A number of brokerages have commented on EDN. ValuEngine upgraded Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Empresa Distribuidora y Cmrz Nrt from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Monday.

The stock has a 50-day simple moving average of $5.73 and a 200 day simple moving average of $8.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.80 and a current ratio of 0.88. The company has a market cap of $257.87 million, a P/E ratio of 1.71 and a beta of 0.92.

Empresa Distribuidora y Cmrz Nrt (NYSE:EDN) last announced its quarterly earnings data on Wednesday, November 13th. The utilities provider reported $0.12 EPS for the quarter. Empresa Distribuidora y Cmrz Nrt had a return on equity of 29.74% and a net margin of 16.49%. The company had revenue of $489.69 million during the quarter. Sell-side analysts anticipate that Empresa Distribuidora y Cmrz Nrt SA will post 4.93 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in shares of Empresa Distribuidora y Cmrz Nrt during the 2nd quarter worth approximately $104,000. Morgan Stanley lifted its position in shares of Empresa Distribuidora y Cmrz Nrt by 264.3% during the 2nd quarter. Morgan Stanley now owns 23,585 shares of the utilities provider’s stock worth $428,000 after buying an additional 17,111 shares during the period. Banco Santander S.A. bought a new position in shares of Empresa Distribuidora y Cmrz Nrt during the 3rd quarter worth approximately $194,000. Northern Trust Corp bought a new position in shares of Empresa Distribuidora y Cmrz Nrt during the 2nd quarter worth approximately $574,000. Finally, State Street Corp increased its holdings in Empresa Distribuidora y Cmrz Nrt by 11.7% during the 3rd quarter. State Street Corp now owns 56,300 shares of the utilities provider’s stock valued at $396,000 after purchasing an additional 5,900 shares in the last quarter. Institutional investors own 6.23% of the company’s stock.

About Empresa Distribuidora y Cmrz Nrt (NYSE:EDN)

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima, a public service company, engages in the distribution and sale of electricity in Argentina. It serves approximately 8.5 million people in the northwestern part of the greater Buenos Aires metropolitan area and the northern part of the City of Buenos Aires through the concession of 4,637 square kilometers.

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