Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Large Volume Increase – Here’s What Happened

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares saw unusually-strong trading volume on Friday . Approximately 309,327 shares were traded during mid-day trading, an increase of 173% from the previous session’s volume of 113,100 shares.The stock last traded at $27.6020 and had previously closed at $28.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EDN shares. Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Weiss Ratings reiterated 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.00.

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

The company has a market capitalization of $1.26 billion, a PE ratio of 6.50 and a beta of 1.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $28.15 and its 200-day simple moving average is $26.82.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its quarterly earnings data on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. The business had revenue of $525.20 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 8.10% and a return on equity of 11.40%. As a group, equities analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after purchasing an additional 239,379 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock valued at $2,409,000 after buying an additional 27,486 shares during the last quarter. Ping Capital Management Inc. raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% in the fourth quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after buying an additional 2,000 shares in the last quarter. Tidal Investments LLC lifted its holdings in 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 buying an additional 4,152 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth about $455,000. 1.64% of the stock is owned by hedge funds and other 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.