Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Releases Quarterly Earnings Results, Beats Expectations By $0.81 EPS

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) issued its quarterly earnings data on Monday. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.81, Zacks reports. The firm had revenue of $618.97 million during the quarter, compared to analysts’ expectations of $217.79 million. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.46% and a return on equity of 10.61%.

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

Shares of EDN stock traded down $0.07 during trading hours on Wednesday, reaching $22.98. 5,605 shares of the company’s stock were exchanged, compared to its average volume of 124,777. Empresa Distribuidora Y Comercializadora Norte S.A. has a fifty-two week low of $14.38 and a fifty-two week high of $36.70. The company has a quick ratio of 1.00, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.04 billion, a P/E ratio of 5.48 and a beta of 1.46. The business has a fifty day moving average price of $25.76 and a 200-day moving average price of $26.80.

Analyst Ratings Changes

Several research firms recently weighed in on EDN. Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, June 24th. Zacks Research raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and a consensus target price of $36.00.

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

A number of hedge funds have recently bought and sold shares of EDN. Van ECK Associates Corp increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after buying an additional 367 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of 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 worth $47,000 after acquiring an additional 556 shares during the period. Tidal Investments LLC boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 4,152 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $320,000. Finally, Millennium Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at about $366,000. 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.