Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.40 and traded as high as $27.95. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $27.78, with a volume of 66,522 shares traded.

Analyst Ratings Changes

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 company currently has an average rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Up 4.0%

The stock has a 50 day moving average price of $29.35 and a 200 day moving average price of $26.40. 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 company has a market capitalization of $1.26 billion, a P/E ratio of 6.65 and a beta of 1.75.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $536.96 million during 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%. Equities research analysts forecast 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)

Several institutional investors have recently bought and sold shares of the company. Jump Financial LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth $320,000. Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $455,000. BNP Paribas Financial Markets grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd 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 period. Tidal Investments LLC increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in 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 during the last quarter. Finally, Ping Capital Management Inc. raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% in the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock valued at $784,000 after acquiring an additional 23,000 shares during the period. Hedge funds and other institutional investors own 1.64% of the company’s stock.

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.