Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Passes Above 200-Day Moving Average – Here’s Why

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.50 and traded as high as $30.39. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $29.4910, with a volume of 69,151 shares.

Wall Street Analyst Weigh In

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 0.9%

The firm’s 50-day simple moving average is $30.06 and its 200-day simple moving average is $26.50. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.34 billion, a PE ratio of 7.06 and a beta of 1.75.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.67 EPS for the quarter. The firm had revenue of $536.96 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.33% and a net margin of 7.82%. Equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors have recently made changes to their positions in the stock. Ping Capital Management Inc. increased its holdings in 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 period. Tidal Investments LLC lifted its holdings in 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 buying an additional 4,152 shares during the period. Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $320,000. Jane Street Group LLC purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at approximately $455,000. Finally, Goldman Sachs Group Inc. raised its holdings 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 valued at $2,409,000 after acquiring an additional 27,486 shares in the last quarter. Hedge funds and other 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.