Weiss Ratings Reiterates "Sell (D+)" Rating for Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)

Key Points

• Weiss Ratings has reiterated a "Sell (D+)" rating for Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) following a recent report.
• The company's stock has fluctuated, with a twelve-month high of $51.69 and a current price of $19.37, reflecting a market cap of roughly $877.98 million.
• Despite the negative ratings, several hedge funds have increased their stakes in Edenor, with Helikon Investments Ltd growing its stake by 259.8% in the first quarter.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report)'s stock had its "sell (d+)" rating restated by research analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

EDN has been the subject of a number of other research reports. Morgan Stanley reiterated an "equal weight" rating and issued a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, August 20th. Wall Street Zen downgraded 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. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Up 3.1%

EDN opened at $19.37 on Friday. Empresa Distribuidora Y Comercializadora Norte S.A. has a twelve month low of $14.38 and a twelve month high of $51.69. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $18.96 and a 200 day moving average price of $26.04. The company has a market cap of $877.98 million, a PE ratio of 3.09 and a beta of 1.53.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last released 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 net margin of 11.55% and a return on equity of 18.04%. Sell-side analysts expect 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)

Several hedge funds have recently made changes to their positions in the company. Helikon Investments Ltd grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider's stock valued at $62,028,000 after buying an additional 1,466,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider's stock valued at $18,228,000 after buying an additional 52,478 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock valued at $7,340,000 after buying an additional 239,379 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider's stock valued at $1,192,000 after buying an additional 22,848 shares during the period. Finally, Ping Capital Management Inc. boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider's stock worth $726,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors 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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