Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sets New 12-Month High at $22.05

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.05 and last traded at $21.90, with a volume of 14463 shares changing hands. The stock had previously closed at $21.32.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of 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 6.8 %

The company’s fifty day moving average is $17.01 and its 200-day moving average is $17.26. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.03 billion, a P/E ratio of 3.36 and a beta of 1.39.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $551.43 million during the quarter. During the same quarter last year, the company 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

A number of large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of 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 buying an additional 2,976 shares during the period. Ping Capital Management Inc. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth $941,000. Finally, Helikon Investments Ltd increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the 4th quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after buying an additional 27,578 shares during the period. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.