Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating.
• The company reported earnings of $1.85 per share for its last quarter, with revenue of $543.69 million.
• As of the article's publication, Edenor shares are trading at $27.02, down by 1.9%.

Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

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

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock traded down $1.5210 on Friday, hitting $24.4390. The stock had a trading volume of 278,536 shares, compared to its average volume of 110,073. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52-week low of $17.36 and a 52-week high of $51.69. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 3.90 and a beta of 1.49. The company's 50 day moving average price is $27.21 and its 200 day moving average price is $31.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 18.04% and a net margin of 11.55%.The business had revenue of $543.69 million during the quarter. On average, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% in the 4th quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider's stock valued at $1,793,000 after acquiring an additional 691 shares during the period. Ping Capital Management Inc. increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider's stock valued at $726,000 after acquiring an additional 2,000 shares during the period. Citadel Advisors LLC increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% in the 4th quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock valued at $2,282,000 after acquiring an additional 2,206 shares during the period. Advisors Preferred LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 1st quarter valued at about $103,000. Finally, Tidal Investments LLC increased its position 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 valued at $490,000 after acquiring an additional 4,152 shares during the period. 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 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.