Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Issues Earnings Results

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) announced its earnings results on Friday. The utilities provider reported $0.80 earnings per share for the quarter, FiscalAI reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. The business had revenue of $525.20 million during the quarter.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 3.2%

NYSE:EDN traded down $0.83 during mid-day trading on Friday, hitting $25.32. 75,296 shares of the stock traded hands, compared to its average volume of 108,936. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $38.10. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.06 and a beta of 1.77. The firm’s 50 day moving average is $28.69 and its two-hundred day moving average is $26.34.

Analyst Ratings Changes

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

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

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in 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 valued at $7,340,000 after acquiring an additional 239,379 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock worth $2,409,000 after purchasing an additional 27,486 shares in the last quarter. Ping Capital Management Inc. lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% during the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 2,000 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 4,152 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $455,000. 1.64% of the stock is currently owned by institutional investors.

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.