Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Reaches New 12-Month High – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.94 and last traded at $25.94, with a volume of 221201 shares traded. The stock had previously closed at $24.08.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 3.1 %

The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $22.02 and its 200-day moving average is $18.72. The firm has a market cap of $1.20 billion, a P/E ratio of 4.19 and a beta of 1.39.

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

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several institutional investors have recently added to or reduced their stakes in EDN. Helikon Investments Ltd increased its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% during the second quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock valued at $8,232,000 after purchasing an additional 157,042 shares during the last quarter. Ping Capital Management Inc. bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter valued at $941,000. Finally, BNP Paribas Financial Markets increased its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during 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. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.