Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading 3.2% Higher – Should You Buy?

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) traded up 3.2% on Wednesday . The company traded as high as $31.93 and last traded at $31.06. 4,537 shares were traded during mid-day trading, a decline of 97% from the average session volume of 166,170 shares. The stock had previously closed at $30.10.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

The stock has a market cap of $1.36 billion, a PE ratio of 7.18 and a beta of 1.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The business has a 50 day moving average price of $31.64 and a two-hundred day moving average price of $25.92.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 EPS for 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%.The business had revenue of $536.96 million for the quarter. Research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% during the first quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock worth $1,192,000 after buying an additional 22,848 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock valued at $18,228,000 after acquiring an additional 52,478 shares during the period. Ping Capital Management Inc. increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock worth $726,000 after purchasing an additional 2,000 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Finally, Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $455,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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.