Wall Street Zen Downgrades Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) to Sell

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

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

Shares of NYSE:EDN opened at $26.30 on Friday. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $38.10. The firm has a market capitalization of $1.19 billion, a P/E ratio of 6.14 and a beta of 1.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.91. The company’s fifty day moving average price is $28.23 and its 200 day moving average price is $26.49.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several institutional investors and hedge funds have recently bought and sold shares of EDN. Millennium Management LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth $366,000. State of Wisconsin Investment Board acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $473,000. Van ECK Associates Corp increased 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 purchasing an additional 367 shares during the period. Wells Fargo & Company MN raised 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 buying an additional 556 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at about $468,000. Hedge funds and other institutional investors own 1.64% of the company’s stock.

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.