Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading 9.4% Higher - Here's Why

Key Points

• Edenor's stock price rose by 9.4% during mid-day trading, reaching a high of $19.06 before closing at $19.23.
• Analysts have mixed opinions, with Wall Street Zen downgrading the stock from a "buy" to a "hold" rating, while Morgan Stanley maintains an "equal weight" rating with a price target of $36.00.
• The company has a market capitalization of $869.69 million and reported a revenue of $543.69 million, with a return on equity of 18.04% in its most recent earnings report.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock price traded up 9.4% during mid-day trading on Thursday . The stock traded as high as $19.06 and last traded at $19.23. 108,529 shares were traded during mid-day trading, a decline of 33% from the average session volume of 161,639 shares. The stock had previously closed at $17.57.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EDN. 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 note on Saturday, August 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 9.2%

The company has a market capitalization of $869.69 million, a price-to-earnings ratio of 3.07 and a beta of 1.53. The business has a fifty day moving average price of $19.29 and a 200 day moving average price of $26.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last issued its earnings results on Monday, August 11th. The utilities provider reported $1.85 EPS for the quarter. The business had revenue of $543.69 million during 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%. On average, equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of EDN. Ping Capital Management Inc. grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the second 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. Advisors Preferred LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter valued at $103,000. Tidal Investments LLC grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second 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. Jump Financial LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $320,000. Finally, Walleye Capital LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter valued at $373,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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

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.

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