Mirae Asset Global Investments Co. Ltd. Buys 33,510 Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) by 45.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,039 shares of the utilities provider’s stock after acquiring an additional 33,510 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima were worth $2,093,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in EDN. UBS Group AG bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth $26,000. Autonomy Capital Jersey L.P. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter worth $78,000. Renaissance Technologies LLC purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth $432,000. Citigroup Inc. purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 3rd quarter worth $1,179,000. Finally, Helikon Investments Ltd grew its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 133.1% during the 3rd quarter. Helikon Investments Ltd now owns 271,739 shares of the utilities provider’s stock worth $3,261,000 after buying an additional 155,145 shares during the last quarter. 1.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research note on Monday, March 18th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 0.6 %

Shares of EDN stock opened at $16.18 on Friday. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 1-year low of $8.27 and a 1-year high of $21.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.65 and a quick ratio of 0.54. The company has a market cap of $733.33 million, a price-to-earnings ratio of 4.30 and a beta of 1.43. The stock’s fifty day moving average price is $17.52 and its 200 day moving average price is $16.36.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings results on Monday, March 11th. The utilities provider reported ($0.25) earnings per share for the quarter. The business had revenue of $785.09 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 15.78% and a net margin of 8.22%. On average, research analysts expect that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 earnings per share for the current fiscal year.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.