Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) from a buy rating to a hold rating in a report released on Wednesday.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

NYSE EDN opened at $16.07 on Wednesday. The stock has a 50-day simple moving average of $17.96 and a 200 day simple moving average of $17.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 0.79. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a twelve month low of $8.97 and a twelve month high of $21.80. The stock has a market capitalization of $728.29 million, a PE ratio of 2.53 and a beta of 1.46.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its quarterly earnings data on Monday, March 11th. The utilities provider reported ($0.25) EPS for the quarter. The firm had revenue of $785.09 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 25.90% and a net margin of 14.11%. Research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 EPS for the current year.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,976 shares in the last quarter. Autonomy Capital Jersey L.P. acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at $78,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 14.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,529 shares of the utilities provider’s stock valued at $894,000 after buying an additional 9,263 shares during the period. Citigroup Inc. acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $1,179,000. Finally, Helikon Investments Ltd grew its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% during the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock worth $5,798,000 after purchasing an additional 27,578 shares during the period. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.