Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 9.6% – Should You Buy?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) rose 9.6% during mid-day trading on Wednesday . The stock traded as high as $30.25 and last traded at $30.35. Approximately 94,611 shares were traded during trading, an increase of 25% from the average daily volume of 75,735 shares. The stock had previously closed at $27.68.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 10.3%

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.04 and a quick ratio of 0.86. The business’s 50-day simple moving average is $30.93 and its two-hundred day simple moving average is $25.99. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 7.30 and a beta of 1.79.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of $536.96 million during 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%. On average, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

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

Large investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at about $320,000. Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at approximately $455,000. Tidal Investments LLC lifted its position in shares of 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 worth $490,000 after buying an additional 4,152 shares during the last quarter. Ping Capital Management Inc. boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 2,000 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in 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 purchasing an additional 239,379 shares during the period. 1.64% of the stock is owned by institutional investors and hedge funds.

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.