Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Announces Earnings Results, Beats Estimates By $999.17 EPS

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) released its quarterly earnings results on Monday. The utilities provider reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $999.17, Zacks reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 8.10% and a return on equity of 11.40%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 4.5%

EDN stock traded up $1.06 during trading on Monday, reaching $24.43. The company had a trading volume of 52,927 shares, compared to its average volume of 136,518. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $38.10. The business has a 50 day moving average of $27.43 and a 200 day moving average of $29.02. The company has a market cap of $1.11 billion, a P/E ratio of 5.71 and a beta of 1.45. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.91.

Analyst Ratings Changes

A number of research firms recently issued reports on EDN. Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Friday, March 27th. Wall Street Zen raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has an average rating of “Hold” and an average price target of $36.00.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 367 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 556 shares in the last quarter. Jump Financial LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at approximately $320,000. Millennium Management LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at approximately $366,000. Finally, Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at approximately $455,000. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.