Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Up 6.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price rose 6.3% during mid-day trading on Thursday . The company traded as high as $21.25 and last traded at $21.19. Approximately 143,622 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 74,148 shares. The stock had previously closed at $19.93.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The firm’s fifty day simple moving average is $17.01 and its 200 day simple moving average is $17.29. The stock has a market capitalization of $966.29 million, a price-to-earnings ratio of 3.36 and a beta of 1.52.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, beating the consensus estimate of ($0.05) by $1.51. The business had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same period in the prior year, the firm posted ($0.48) earnings per share. On average, sell-side analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Helikon Investments Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the 2nd quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock valued at $8,232,000 after acquiring an additional 157,042 shares in the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter valued at approximately $941,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 2,976 shares in the last quarter. 1.64% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.