Walleye Capital LLC Makes New Investment in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) $EDN

Key Points

• Walleye Capital LLC purchased 12,224 shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor), valued at approximately $373,000, during the first quarter of the year.
• Other institutional investors, such as GAMMA Investing LLC and Millennium Management LLC, significantly increased their stakes in the company, with GAMMA raising its position by 2,523.4%.
• Edenor stock recently traded down 2.7% to $20.90, with a market capitalization of $947.14 million and a P/E ratio of 3.34.

Walleye Capital LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,224 shares of the utilities provider's stock, valued at approximately $373,000.

Several other hedge funds have also recently bought and sold shares of the stock. Helikon Investments Ltd raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% during the first quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider's stock worth $62,028,000 after acquiring an additional 1,466,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 111.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider's stock worth $23,360,000 after acquiring an additional 286,989 shares in the last quarter. Millennium Management LLC raised its stake 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 in the last quarter. Citadel Advisors LLC raised its stake 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 in the last quarter. Finally, GAMMA Investing LLC raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 2,523.4% during the first quarter. GAMMA Investing LLC now owns 41,870 shares of the utilities provider's stock worth $1,371,000 after acquiring an additional 40,274 shares in the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on EDN shares. Wall Street Zen lowered 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 reiterated 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. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.00.

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

Shares of NYSE:EDN traded up $0.12 during midday trading on Friday, reaching $21.81. The company's stock had a trading volume of 137,665 shares, compared to its average volume of 128,739. Empresa Distribuidora Y Comercializadora Norte S.A. has a fifty-two week low of $19.93 and a fifty-two week high of $51.69. The company has a market capitalization of $988.20 million, a P/E ratio of 3.48 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 business's fifty day simple moving average is $25.72 and its 200-day simple moving average is $29.68.

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 earnings per share (EPS) for the quarter. The business had revenue of $543.69 million for 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%. As a group, equities research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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.