Zacks Investment Research upgraded shares of Empresa Distribuidora y Comercializadora Norte S.A. (NYSE:EDN) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km. “

Separately, Morgan Stanley began coverage on Empresa Distribuidora y Comercializadora Norte in a report on Wednesday, October 5th. They set an overweight rating and a $26.50 price objective for the company.

Empresa Distribuidora y Comercializadora Norte (NYSE:EDN) opened at 27.63 on Friday. Empresa Distribuidora y Comercializadora Norte has a one year low of $13.25 and a one year high of $28.39. The firm’s market capitalization is $1.24 billion. The firm has a 50 day moving average of $24.61 and a 200 day moving average of $18.73.

WARNING: “Empresa Distribuidora y Comercializadora Norte S.A. (EDN) Upgraded to Hold by Zacks Investment Research” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2016/11/28/empresa-distribuidora-y-comercializadora-norte-s-a-edn-upgraded-to-hold-by-zacks-investment-research.html.

Institutional investors have recently bought and sold shares of the company. Dorsey Wright & Associates raised its position in shares of Empresa Distribuidora y Comercializadora Norte by 39.4% in the third quarter. Dorsey Wright & Associates now owns 62,853 shares of the company’s stock valued at $1,244,000 after buying an additional 17,756 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte during the third quarter valued at about $153,000. Prince Street Capital Management LLC raised its position in shares of Empresa Distribuidora y Comercializadora Norte by 9.3% in the third quarter. Prince Street Capital Management LLC now owns 164,300 shares of the company’s stock valued at $3,253,000 after buying an additional 14,000 shares in the last quarter. Morgan Stanley raised its position in shares of Empresa Distribuidora y Comercializadora Norte by 6.3% in the third quarter. Morgan Stanley now owns 13,399 shares of the company’s stock valued at $265,000 after buying an additional 796 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Empresa Distribuidora y Comercializadora Norte by 1.9% in the third quarter. Northern Trust Corp now owns 15,926 shares of the company’s stock valued at $316,000 after buying an additional 300 shares in the last quarter. Institutional investors own 4.84% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Company Profile

Empresa Distribuidora y Comercializadora Norte SA is a public service company. The Company is engaged in electricity distribution in Argentina. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires.

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