Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• EDN passed above its 200‑day moving average (200‑day = $27.81), trading as high as $30.11 and last at $29.0050 on volume of 123,166 shares.
• Sell‑side analysts have a consensus rating of Hold with a $36.00 consensus price target; Weiss Ratings reiterated a "hold (c-)" and Wall Street Zen upgraded the stock from "sell" to "hold."
• Valuation and recent results show a market cap of $1.31B, a low P/E of 6.78, quarterly EPS of $0.80 (net margin 8.1%, ROE 11.4%), and only about 1.64% institutional ownership.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.81 and traded as high as $30.11. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $29.0050, with a volume of 123,166 shares traded.

Analyst Ratings Changes

A number of research firms have recently issued reports on EDN. Weiss Ratings restated a "hold (c-)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Friday, March 27th. Wall Street Zen upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of "Hold" and a consensus price target of $36.00.

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

The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.07. The firm's 50-day moving average price is $28.14 and its two-hundred day moving average price is $27.81. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 6.78 and a beta of 1.71.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last issued its earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 8.10% and a return on equity of 11.40%. The business had revenue of $525.20 million for the quarter. Sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

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

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 367 shares during the period. Wells Fargo & Company MN grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 556 shares during the period. Jump Financial LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $320,000. Millennium Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $366,000. Finally, Jane Street Group LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $455,000. 1.64% of the stock is currently owned by institutional investors.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

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.

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