Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sets New 52-Week Low - Here's Why

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares fell to a new 52-week low at $17.95, down from a previous close of $21.85.
• Wall Street analysts have downgraded Edenor's rating from "buy" to "hold," with an average price target of $36.00.
• Institutional investors have increased their holdings significantly, with Helikon Investments Ltd boosting its stake by 259.8% in the first quarter.

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $18.80 and last traded at $17.95, with a volume of 8131 shares traded. The stock had previously closed at $21.85.

Analysts Set New Price Targets

EDN has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Morgan Stanley reissued an "equal weight" rating and set a $36.00 price target on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of "Hold" and an average price target of $36.00.

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

The company has a 50 day moving average of $24.86 and a 200-day moving average of $29.13. The stock has a market capitalization of $769.08 million, a P/E ratio of 2.71 and a beta of 1.60. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 earnings per share (EPS) 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 firm had revenue of $543.69 million for the quarter. Sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Helikon Investments Ltd lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the first quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider's stock valued at $62,028,000 after buying an additional 1,466,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider's stock valued at $18,228,000 after buying an additional 52,478 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in 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 last quarter. Millennium Management LLC lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 177.7% in the fourth quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider's stock valued at $4,403,000 after buying an additional 65,666 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% in the fourth quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock valued at $2,282,000 after buying an additional 2,206 shares during the last quarter. 1.64% of the stock is currently owned by institutional investors.

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.