Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.95 and traded as high as $27.27. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.8250, with a volume of 129,055 shares.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EDN. Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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

The company has a quick ratio of 1.00, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $25.99 and a two-hundred day moving average price of $26.95. The stock has a market cap of $1.21 billion, a P/E ratio of 4.97 and a beta of 1.45.

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

Several institutional investors and hedge funds have recently modified their holdings of EDN. BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after acquiring an additional 239,379 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock worth $2,409,000 after acquiring an additional 27,486 shares in the last quarter. Tidal Investments LLC increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 4,152 shares during the period. State of Wisconsin Investment Board bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at about $473,000. Finally, Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at about $468,000. 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 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.