Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)'s (EDN) "Equal Weight" Rating Reiterated at Morgan Stanley

Key Points

• Morgan Stanley has reiterated an "Equal Weight" rating for Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor), with a target price set at $36.00, suggesting a 38.46% potential upside from the current stock price.
• Wall Street Zen downgraded Edenor's rating from "buy" to "hold", contributing to the stock's average rating of "hold" according to MarketBeat.
• Edenor recently reported a quarterly earnings per share (EPS) of $1.85 with a revenue of $543.69 million, indicating a net margin of 11.55% and a return on equity of 18.04%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $36.00 target price on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 38.46% from the stock's previous close.

Separately, Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $36.00.

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

Shares of EDN opened at $26.00 on Wednesday. Empresa Distribuidora Y Comercializadora Norte S.A. has a fifty-two week low of $17.36 and a fifty-two week high of $51.69. The firm's 50 day moving average price is $27.35 and its 200 day moving average price is $31.27. The company has a market cap of $1.18 billion, a P/E ratio of 4.15 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.99 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 results on Monday, August 11th. The utilities provider reported $1.85 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, research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

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

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 2,523.4% in the first quarter. GAMMA Investing LLC now owns 41,870 shares of the utilities provider's stock valued at $1,371,000 after purchasing an additional 40,274 shares during the period. Citadel Advisors LLC raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% during the fourth quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock worth $2,282,000 after acquiring an additional 2,206 shares during the last quarter. BNP Paribas Financial Markets raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% during the fourth quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider's stock worth $1,793,000 after acquiring an additional 691 shares during the last quarter. Tidal Investments LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth about $519,000. Finally, Millennium Management LLC raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 177.7% during the fourth quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider's stock worth $4,403,000 after acquiring an additional 65,666 shares during 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.

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