Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Lowered to Sell Rating by Wall Street Zen

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

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 investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.

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

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock opened at $26.30 on Friday. The company has a market cap of $1.19 billion, a PE ratio of 6.14 and a beta of 1.77. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $38.10. The business has a 50 day moving average price of $28.23 and a 200-day moving average price of $26.42. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27.

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

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 367 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 556 shares during the last quarter. Ping Capital Management Inc. increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% during the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 2,000 shares during the last quarter. Tidal Investments LLC raised 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 purchasing an additional 4,152 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $320,000. 1.64% of the stock is currently owned by 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.