Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Pass Above 200 Day Moving Average – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.42 and traded as high as $23.77. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $22.62, with a volume of 80,677 shares changing hands.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a market capitalization of $1.04 billion, a P/E ratio of 3.64 and a beta of 1.39. The business has a 50 day moving average of $21.17 and a 200 day moving average of $18.48. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $1.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. The business had revenue of $551.43 million during the quarter. During the same period last year, the firm earned ($0.48) EPS. On average, sell-side analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of institutional investors and hedge funds have recently bought and sold shares of EDN. Helikon Investments Ltd increased its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in 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 period. Ping Capital Management Inc. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth $941,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 2,976 shares in the last quarter. Hedge funds and other 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.