Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Up 5.9%

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shot up 5.9% during mid-day trading on Monday . The stock traded as high as $19.78 and last traded at $19.78. 27,746 shares were traded during mid-day trading, a decline of 63% from the average session volume of 75,240 shares. The stock had previously closed at $18.68.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research report on Monday, March 18th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The business has a fifty day simple moving average of $17.22 and a two-hundred day simple moving average of $16.80. The company has a market cap of $916.37 million, a P/E ratio of 5.37 and a beta of 1.46. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 0.10.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings data on Monday, March 11th. The utilities provider reported ($0.25) earnings per share for the quarter. The business had revenue of $785.09 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 15.78% and a net margin of 8.22%. On average, sell-side analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 14.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,529 shares of the utilities provider’s stock worth $894,000 after purchasing an additional 9,263 shares during the period. Helikon Investments Ltd increased its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 133.1% in the third quarter. Helikon Investments Ltd now owns 271,739 shares of the utilities provider’s stock worth $3,261,000 after buying an additional 155,145 shares in the last quarter. Citigroup Inc. purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter worth about $1,179,000. Autonomy Capital Jersey L.P. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter worth about $78,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after buying an additional 2,976 shares in the last quarter. Hedge funds and other institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.