Morgan Stanley Reiterates "Equal Weight" Rating for Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)

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%.

Morgan Stanley reiterated their equal weight rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has a $36.00 target price on the utilities provider's stock.

Separately, Wall Street Zen lowered Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of "Hold" and an average target price of $36.00.

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

Shares of NYSE:EDN traded down $1.4950 during midday trading on Wednesday, reaching $22.0550. 168,661 shares of the company's stock traded hands, compared to its average volume of 149,787. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1 year low of $17.36 and a 1 year high of $51.69. The company has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $30.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.99. The company has a market cap of $999.53 million, a P/E ratio of 3.52 and a beta of 1.49.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 EPS for the quarter. The company 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%. Equities analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of EDN. Tidal Investments LLC raised its stake in shares of 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 in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after buying an additional 239,379 shares during the period. Jane Street Group LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth approximately $455,000. Jump Financial LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at approximately $320,000. Finally, Ping Capital Management Inc. boosted 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 valued at $726,000 after purchasing an additional 2,000 shares in the last quarter. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

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.