Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) from a sell rating to a hold rating in a report issued on Sunday.

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has an average rating of “Hold” and an average target price of $36.00.

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

EDN opened at $28.76 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of 6.72 and a beta of 1.77. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $38.10. 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 company has a fifty day simple moving average of $28.07 and a 200 day simple moving average of $26.80.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several institutional investors have recently added to or reduced their stakes in the stock. Ping Capital Management Inc. increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock worth $784,000 after purchasing an additional 23,000 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at about $473,000. Wells Fargo & Company MN lifted its holdings in shares of 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 purchasing an additional 556 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at about $366,000. Finally, Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth about $455,000. 1.64% of the stock is 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.