Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Issues Earnings Results, Beats Estimates By $0.81 EPS

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) posted its quarterly earnings data on Monday. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.81, Zacks reports. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 10.25% and a return on equity of 13.79%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.0%

EDN stock traded down $0.23 during midday trading on Monday, hitting $24.07. 149,269 shares of the company’s stock were exchanged, compared to its average volume of 125,168. Empresa Distribuidora Y Comercializadora Norte S.A. has a one year low of $14.38 and a one year high of $36.70. The stock’s fifty day moving average price is $25.93 and its 200-day moving average price is $26.88. The company has a market cap of $1.09 billion, a PE ratio of 4.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.19.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a 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 report on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has a consensus rating of “Hold” and an average target price of $36.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd 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. lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% in the fourth 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 during the period. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth about $455,000. State of Wisconsin Investment Board acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter worth $473,000. Finally, Millennium Management LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $366,000. Institutional investors and hedge funds 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.