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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $26.50 and traded as high as $30.39. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $29.4910, with a volume of 69,151 shares trading hands.

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 report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 0.9%

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 stock has a market cap of $1.34 billion, a P/E ratio of 7.06 and a beta of 1.75. The firm’s fifty day moving average price is $30.06 and its two-hundred day moving average price is $26.50.

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

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after buying an additional 239,379 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock worth $2,409,000 after acquiring an additional 27,486 shares during the last quarter. Ping Capital Management Inc. lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 23,000 shares during the last quarter. Jane Street Group LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth $455,000. Finally, Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $320,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

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.