Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 5.3% – Time to Buy?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price rose 5.3% during trading on Thursday . The company traded as high as $28.05 and last traded at $28.5490. Approximately 33,053 shares were traded during trading, a decline of 68% from the average daily volume of 104,202 shares. The stock had previously closed at $27.10.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 3.3%

The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 6.52 and a beta of 1.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.07. The company has a 50 day moving average of $28.03 and a 200 day moving average of $26.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after buying an additional 367 shares during the period. Wells Fargo & Company MN raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 556 shares during the last quarter. Jump Financial LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Millennium Management LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth approximately $366,000. Finally, Jane Street Group LLC purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at approximately $455,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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.