Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 4.6% Higher

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price shot up 4.6% on Monday . The stock traded as high as $16.89 and last traded at $16.89. 24,106 shares were traded during trading, a decline of 69% from the average session volume of 77,132 shares. The stock had previously closed at $16.14.

Analyst Upgrades and Downgrades

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

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The stock’s 50 day moving average price is $17.53 and its 200 day moving average price is $16.49. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 0.10. The company has a market cap of $753.67 million, a price-to-earnings ratio of 4.42 and a beta of 1.43.

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

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several institutional investors and hedge funds have recently modified their holdings of the stock. Helikon Investments Ltd increased its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% during the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock worth $6,107,000 after acquiring an additional 45,901 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider’s stock worth $2,093,000 after buying an additional 33,510 shares in the last quarter. Autonomy Capital Jersey L.P. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter valued at $78,000. Finally, Citigroup Inc. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 3rd quarter worth $1,179,000. 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.