Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 7.7% - Here's Why

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) saw a significant stock price increase of 7.7%, reaching a last traded price of $19.61 during mid-day trading on Tuesday.
• Analysts have set a consensus price target of $36.00 for Edenor, with ratings varying from "hold" to "equal weight" from major firms like Morgan Stanley.
• The company reported a net margin of 11.55% and a return on equity of 18.04%, with quarterly earnings per share of $1.85.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock price was up 7.7% during mid-day trading on Tuesday . The company traded as high as $19.79 and last traded at $19.61. Approximately 180,827 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 154,702 shares. The stock had previously closed at $18.21.

Analysts Set New Price Targets

A number of analysts recently issued reports on EDN shares. Morgan Stanley restated an "equal weight" rating and issued a $36.00 price target on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, August 20th. Wall Street Zen lowered 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. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 3.0%

The company has a market cap of $849.66 million, a price-to-earnings ratio of 2.99 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82. The firm's fifty day moving average price is $23.75 and its 200-day moving average price is $28.28.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its quarterly earnings results 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 net margin of 11.55% and a return on equity of 18.04%. The company had revenue of $543.69 million during the quarter. On average, equities 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)

Several institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its holdings 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 worth $490,000 after purchasing an additional 4,152 shares during the period. BNP Paribas Financial Markets lifted its holdings 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 worth $7,340,000 after purchasing an additional 239,379 shares during the period. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth about $455,000. Jump Financial LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth about $320,000. Finally, Ping Capital Management Inc. lifted its holdings 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 worth $726,000 after purchasing an additional 2,000 shares during the period. 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.

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