Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 4.8% Higher

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price traded up 4.8% during mid-day trading on Wednesday . The stock traded as high as $22.68 and last traded at $22.58. 25,512 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 74,224 shares. The stock had previously closed at $21.54.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 2.3 %

The stock has a fifty day moving average of $17.43 and a two-hundred day moving average of $17.34. The company has a market capitalization of $1.06 billion, a PE ratio of 3.67 and a beta of 1.40. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $1.51. The business had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same quarter in the previous year, the business earned ($0.48) earnings per share. As a group, sell-side analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Helikon Investments Ltd boosted its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% during the 4th quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after acquiring an additional 27,578 shares during the period. Ping Capital Management Inc. purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth approximately $941,000. Finally, BNP Paribas Financial Markets lifted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,976 shares during the last quarter. 1.64% of the stock is owned by institutional investors.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.