Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Announces Quarterly Earnings Results

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) posted its earnings results on Monday. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.81, Zacks reports. The company had revenue of $618.97 million for the quarter, compared to analyst estimates of $217.79 million. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 10.25% and a return on equity of 13.79%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.1%

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock opened at $24.03 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.19. The firm has a 50-day moving average of $25.84 and a 200-day moving average of $26.85. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52-week low of $14.38 and a 52-week high of $36.70. The stock has a market cap of $1.09 billion, a PE ratio of 4.45 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EDN shares. Zacks Research raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a report on Thursday, May 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, June 24th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.00.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth approximately $473,000. Goldman Sachs Group Inc. raised its position in shares of 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 in the last quarter. Tidal Investments LLC raised its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after buying an additional 4,152 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after buying an additional 239,379 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $366,000. Institutional investors and hedge funds 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.