Banco BTG Pactual S.A. Sells 59,306 Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) $EDN

Key Points

• Banco BTG Pactual S.A. sold 59,306 shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor), reducing its stake by 67.2%, and now holds approximately 28,894 shares valued at $882,000.
• Several institutional investors, including Advisors Preferred LLC and Voloridge Investment Management LLC, have recently initiated new positions in Edenor, reflecting growing interest from the investment community.
• On August 11th, Edenor reported a quarterly earnings per share of $1.85 and has seen its stock price drop 7.2%, with a current trading price of $26.00.

Banco BTG Pactual S.A. reduced its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) by 67.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,894 shares of the utilities provider's stock after selling 59,306 shares during the quarter. Banco BTG Pactual S.A. owned about 0.06% of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) worth $882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% in 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. Citadel Advisors LLC lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% in 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. Advisors Preferred LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter worth about $103,000. Bank of America Corp DE lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 135.4% in the fourth quarter. Bank of America Corp DE now owns 7,481 shares of the utilities provider's stock worth $321,000 after acquiring an additional 4,303 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter worth about $207,000. Institutional investors own 1.64% of the company's stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 6.6%

EDN traded down $1.55 during trading on Monday, reaching $22.00. 163,026 shares of the company's stock were exchanged, compared to its average volume of 149,688. Empresa Distribuidora Y Comercializadora Norte S.A. has a one year low of $17.36 and a one year high of $51.69. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $997.04 million, a PE ratio of 3.52 and a beta of 1.49. The firm has a fifty day moving average price of $26.97 and a two-hundred day moving average price of $30.89.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share 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 firm had revenue of $543.69 million for the quarter. As a group, equities research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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, August 16th. Morgan Stanley reissued an "equal weight" rating and issued a $36.00 target price on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, August 20th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has an average rating of "Hold" and a consensus price target of $36.00.

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.