Wall Street Zen Upgrades Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) to Hold

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

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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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 $27.91 on Friday. The firm’s fifty day simple moving average is $28.03 and its 200-day simple moving average is $26.65. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 6.52 and a beta of 1.77. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $38.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.91.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ping Capital Management Inc. boosted its holdings in 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 during the last quarter. Goldman Sachs Group Inc. grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock valued at $2,409,000 after purchasing an additional 27,486 shares in the last quarter. Van ECK Associates Corp increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the 4th 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. Jump Financial LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Finally, Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at 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.