Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Upgraded to Hold at Zacks Research

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was upgraded by equities researchers at Zacks Research to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on EDN. Wall Street Zen raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has an average rating of “Hold” and an average target price of $36.00.

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

Shares of NYSE:EDN opened at $22.39 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. Empresa Distribuidora Y Comercializadora Norte S.A. has a twelve month low of $14.38 and a twelve month high of $38.10. The stock’s 50 day moving average is $27.07 and its 200-day moving average is $29.17. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 4.15 and a beta of 1.45.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 13.79% and a net margin of 10.25%.The company had revenue of $525.20 million for the quarter. Sell-side analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 EPS for the current fiscal year.

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

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in 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 in the last quarter. Wells Fargo & Company MN grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock worth $47,000 after buying an additional 556 shares in the last quarter. Ping Capital Management Inc. grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% during the fourth quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock worth $1,570,000 after buying an additional 2,000 shares in the last quarter. Tidal Investments LLC grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 4,152 shares during the period. Finally, Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at $320,000. 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.