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

Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) from a sell rating to a hold rating in a research note released on Sunday morning.

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

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

Shares of EDN opened at $27.91 on Friday. The company’s 50-day simple moving average is $28.03 and its 200-day simple moving average is $26.69. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.07. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1 year low of $14.38 and a 1 year high of $38.10. The stock has a market capitalization of $1.26 billion, a PE ratio of 6.52 and a beta of 1.77.

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

Several hedge funds have recently added to or reduced their stakes in EDN. Van ECK Associates Corp lifted its stake 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 acquiring an additional 367 shares during the last quarter. Wells Fargo & Company MN lifted 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 worth $47,000 after purchasing an additional 556 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $320,000. Millennium Management LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth $366,000. Finally, Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth $455,000. 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.