Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Get Free Report) posted its quarterly earnings results on Monday. The utilities provider reported $999.00 EPS for the quarter, beating the consensus estimate of ($0.17) by $999.17, Zacks reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 8.10% and a return on equity of 11.40%.
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Performance
EDN stock traded up $1.00 during mid-day trading on Monday, reaching $24.37. The company had a trading volume of 46,760 shares, compared to its average volume of 136,486. The company has a quick ratio of 0.91, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.10 billion, a P/E ratio of 5.67 and a beta of 1.45. Empresa Distribuidora Y Comercializadora Norte S.A. has a one year low of $14.38 and a one year high of $38.10. The stock’s 50-day simple moving average is $27.43 and its two-hundred day simple moving average is $29.02.
Analyst Upgrades and Downgrades
Several research analysts recently commented on EDN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report 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 report on Sunday, March 22nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and a consensus target price of $36.00.
Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)
Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after buying an additional 367 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after buying an additional 556 shares during the last quarter. Jump Financial LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $320,000. Millennium Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $366,000. Finally, Jane Street Group LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $468,000. 1.64% of the stock is currently owned by 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.
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