Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.93 and traded as high as $29.80. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $27.9620, with a volume of 103,294 shares trading hands.

Wall Street Analyst Weigh In

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 analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 3.3%

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 6.69 and a beta of 1.79. The firm has a fifty day moving average price of $31.87 and a 200 day moving average price of $25.93. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after acquiring an additional 239,379 shares during the last quarter. Ping Capital Management Inc. increased its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% in the third quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock valued at $784,000 after purchasing an additional 23,000 shares in the last quarter. Jane Street Group LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $455,000. Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $320,000. Finally, Tidal Investments LLC lifted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after buying an additional 4,152 shares in the last quarter. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.