Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Up 5.6% - Still a Buy?

Key Points

• Edenor's stock rose 5.6% to $28.15, down from a previous close of $26.65, despite a significant drop in trading volume.
• Wall Street Zen upgraded Edenor from a "hold" to a "buy" rating, indicating positive sentiment towards the company's future performance.
• The company's latest earnings report showed an EPS of $0.78 and a revenue of $605.33 million, with analysts predicting an EPS of 1.38 for the current fiscal year.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shot up 5.6% on Monday . The company traded as high as $28.03 and last traded at $28.15. 85,761 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 152,975 shares. The stock had previously closed at $26.65.

Analyst Upgrades and Downgrades

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 7.1%

The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 5.07 and a beta of 1.44. The business has a 50 day moving average price of $29.10 and a 200-day moving average price of $32.13.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last released its earnings results on Friday, May 9th. The utilities provider reported $0.78 EPS for 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%. The company had revenue of $605.33 million for the quarter. As a group, research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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

Institutional investors have recently added to or reduced their stakes in the stock. Helikon Investments Ltd raised its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% during the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider's stock valued at $62,028,000 after acquiring an additional 1,466,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 buying an additional 52,478 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at $6,272,000. Millennium Management LLC increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 177.7% in the 4th 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 in the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at $3,152,000. 1.64% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.