Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (EDN) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday, July 13th.

Several other equities analysts have also recently commented on EDN. Zacks Investment Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a strong sell rating to a hold rating in a research report on Tuesday, April 11th. BidaskClub upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a sell rating to a hold rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has an average rating of Buy and a consensus target price of $30.75.

Empresa Distribuidora Y Comercializadora Norte S.A. (NYSE:EDN) opened at 30.40 on Thursday. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $15.03 and a 12-month high of $37.12. The company’s market capitalization is $1.37 billion. The stock’s 50 day moving average price is $30.94 and its 200 day moving average price is $32.60.

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A number of institutional investors have recently made changes to their positions in EDN. Newfoundland Capital Management boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 11.0% in the second quarter. Newfoundland Capital Management now owns 1,034,750 shares of the utilities provider’s stock valued at $33,008,000 after buying an additional 102,309 shares during the period. Wells Fargo & Company MN raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 21.9% in the first quarter. Wells Fargo & Company MN now owns 221,122 shares of the utilities provider’s stock worth $7,695,000 after buying an additional 39,766 shares in the last quarter. Wellington Management Group LLP purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth approximately $4,058,000. Goldman Sachs Group Inc. raised its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 0.8% in the first quarter. Goldman Sachs Group Inc. now owns 104,819 shares of the utilities provider’s stock worth $3,648,000 after buying an additional 803 shares in the last quarter. Finally, BARING ASSET MANAGEMENT Ltd purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth approximately $3,567,000. Hedge funds and other institutional investors own 7.30% of the company’s stock.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA is a public service company. The Company is engaged in electricity distribution in Argentina. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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