Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 6.3% Higher

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price shot up 6.3% during trading on Thursday . The company traded as high as $21.25 and last traded at $21.19. 143,622 shares changed hands during trading, an increase of 94% from the average session volume of 74,148 shares. The stock had previously closed at $19.93.

Analyst Ratings Changes

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

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The stock has a market cap of $966.29 million, a price-to-earnings ratio of 3.36 and a beta of 1.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The company has a 50-day simple moving average of $17.01 and a two-hundred day simple moving average of $17.29.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share for the quarter, topping 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 firm posted ($0.48) earnings per share. As a group, equities research analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 EPS for the current year.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings 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 purchasing an additional 2,976 shares during the last quarter. Ping Capital Management Inc. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth about $941,000. Finally, Helikon Investments Ltd increased its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% during the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock worth $5,798,000 after acquiring an additional 27,578 shares during the period. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.