Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Raised to “Buy” at Wall Street Zen

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Friday.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima stock opened at $35.88 on Friday. The business has a 50-day moving average of $31.51 and a 200 day moving average of $36.11. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 12 month low of $13.78 and a 12 month high of $51.69. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 6.98 and a beta of 1.53. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter. The business had revenue of $605.33 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 18.97% and a net margin of 10.22%. As a group, sell-side analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 1.38 earnings per share for the current year.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1.7% in the 4th quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider’s stock valued at $1,793,000 after buying an additional 691 shares during the period. Citadel Advisors LLC boosted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4.3% in the 4th quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider’s stock valued at $2,282,000 after buying an additional 2,206 shares during the period. SG Americas Securities LLC purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at about $101,000. Banco BTG Pactual S.A. boosted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 3.8% in the 4th quarter. Banco BTG Pactual S.A. now owns 88,200 shares of the utilities provider’s stock valued at $4,145,000 after buying an additional 3,200 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the first quarter worth approximately $103,000. Hedge funds and other institutional investors 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.