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) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.34 and traded as high as $31.01. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $30.02, with a volume of 86,801 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 2.0%

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 firm’s fifty day simple moving average is $30.84 and its 200 day simple moving average is $26.34. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 7.18 and a beta of 1.75.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. The company had revenue of $536.96 million during the quarter. On average, sell-side analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors have recently modified their holdings of the company. Jump Financial LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth about $320,000. Jane Street Group LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $455,000. Tidal Investments LLC grew its stake in shares of 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 acquiring an additional 4,152 shares in the last quarter. Ping Capital Management Inc. grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 23,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position 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 purchasing an additional 239,379 shares in the last quarter. 1.64% of the stock is currently owned by institutional investors.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

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.