Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $25.98 and traded as high as $27.38. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.3450, with a volume of 80,017 shares.

Wall Street Analysts Forecast Growth

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 a consensus price target of $36.00.

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

The firm’s fifty day simple moving average is $31.15 and its 200-day simple moving average is $25.98. The firm has a market capitalization of $1.23 billion, a PE ratio of 6.48 and a beta of 1.79. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 EPS for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. The firm had revenue of $536.96 million for the quarter. On average, research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ping Capital Management Inc. boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after buying an additional 2,000 shares during the last quarter. Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $320,000. Jane Street Group LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at about $455,000. BNP Paribas Financial Markets boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after acquiring an additional 239,379 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 4,152 shares during the period. 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.