Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) from a hold rating to a sell rating in a research report released on Saturday morning.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 3.6%

EDN stock opened at $26.30 on Friday. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1-year low of $14.38 and a 1-year high of $38.10. The company has a current ratio of 1.04, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $28.23 and its 200-day moving average is $26.45. The firm has a market cap of $1.19 billion, a P/E ratio of 6.14 and a beta of 1.77.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors and hedge funds have recently made changes to their positions in EDN. Millennium Management LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at $366,000. State of Wisconsin Investment Board acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter worth about $473,000. Van ECK Associates Corp increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the fourth quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 367 shares during the period. Wells Fargo & Company MN raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 556 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth about $468,000. 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.