Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 9.6% – Still a Buy?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares rose 9.6% during trading on Wednesday . The stock traded as high as $30.25 and last traded at $30.35. Approximately 94,611 shares were traded during trading, an increase of 25% from the average daily volume of 75,735 shares. The stock had previously closed at $27.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has an average rating of “Hold” and a consensus target price of $36.00.

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

The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average price of $30.82 and a 200-day moving average price of $26.09. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 7.11 and a beta of 1.79.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. The firm had revenue of $536.96 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.33% and a net margin of 7.82%. On average, analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in EDN. Ping Capital Management Inc. lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after buying an additional 2,000 shares during the period. Tidal Investments LLC raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 4,152 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after acquiring an additional 239,379 shares during the period. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $455,000. Finally, Jump Financial LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $320,000. Institutional investors and hedge funds 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.