Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 9.2% - Here's What Happened

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s share price was up 9.2% during mid-day trading on Tuesday . The company traded as high as $27.36 and last traded at $27.32. Approximately 89,733 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 145,864 shares. The stock had previously closed at $25.01.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd.

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

The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 4.64 and a beta of 1.44. The firm's 50-day moving average is $30.82 and its two-hundred day moving average is $33.79. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.78 EPS for the quarter. The company had revenue of $605.33 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 18.30% and a net margin of 10.61%. As a group, sell-side analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Helikon Investments Ltd raised its position in shares of 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. raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider's stock valued at $18,228,000 after acquiring an additional 52,478 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth approximately $6,272,000. William Blair Investment Management LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth approximately $5,012,000. Finally, Millennium Management LLC grew its position in shares of 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 purchasing an additional 65,666 shares in the last quarter. 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.