Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Strong Trading Volume – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares saw unusually-strong trading volume on Friday . Approximately 49,560 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 83,095 shares.The stock last traded at $31.46 and had previously closed at $29.10.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 6.9 %

The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 3.87 and a beta of 1.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The business has a fifty day moving average of $23.04 and a two-hundred day moving average of $19.08.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $1.51. The firm had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. During the same quarter last year, the company posted ($0.48) EPS. As a group, equities analysts expect that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after buying an additional 2,976 shares during the last quarter. Ping Capital Management Inc. purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth $941,000. Finally, Helikon Investments Ltd lifted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% during the 2nd quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock worth $8,232,000 after purchasing an additional 157,042 shares during the period. Institutional investors and hedge funds own 1.64% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.