Helikon Investments Ltd Has $62.03 Million Stock Position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)

Key Points

• Helikon Investments Ltd increased its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8%, owning 2,031,036 shares and making it the 7th largest holding in their portfolio.
• The company reported a net margin of 10.61% and earnings of $0.78 per share for the most recent quarter, with total revenue reaching $605.33 million.
• Wall Street Zen upgraded Edenor's rating from "hold" to "buy" on May 23rd, reflecting a positive outlook for the utilities provider.

Helikon Investments Ltd boosted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Free Report) by 259.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,031,036 shares of the utilities provider's stock after purchasing an additional 1,466,500 shares during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) accounts for about 4.7% of Helikon Investments Ltd's portfolio, making the stock its 7th largest holding. Helikon Investments Ltd owned approximately 4.48% of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) worth $62,028,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of EDN. BNP Paribas Financial Markets grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% during the 4th quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider's stock valued at $1,793,000 after purchasing an additional 691 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% in the 4th quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock worth $2,282,000 after purchasing an additional 2,206 shares during the period. Advisors Preferred LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 1st quarter worth approximately $103,000. Bank of America Corp DE lifted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 135.4% during the 4th quarter. Bank of America Corp DE now owns 7,481 shares of the utilities provider's stock valued at $321,000 after acquiring an additional 4,303 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth $207,000. Institutional investors and hedge funds own 1.64% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd.

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

Shares of EDN stock traded up $0.22 during trading on Monday, reaching $28.48. 69,387 shares of the company's stock traded hands, compared to its average volume of 113,517. The firm's 50-day moving average is $27.75 and its 200 day moving average is $31.66. The company has a market capitalization of $1.29 billion, a P/E ratio of 5.06 and a beta of 1.49. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1 year low of $16.64 and a 1 year high of $51.69. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22.

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 10.61% and a return on equity of 18.30%. Equities research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

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.