Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Up 6.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) 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 mid-day trading, an increase of 94% from the average session volume of 74,148 shares. The stock had previously closed at $19.93.

Analysts Set New Price Targets

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 Stock Up 4.9 %

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 stock has a market cap of $947.25 million, a P/E ratio of 3.34 and a beta of 1.52. The firm has a 50 day simple moving average of $16.83 and a 200-day simple moving average of $17.25.

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 for the quarter, topping the consensus estimate of ($0.05) by $1.51. The business had revenue of $551.43 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. During the same period in the previous year, the business posted ($0.48) earnings per share. On average, equities research analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EDN. Ping Capital Management Inc. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth $941,000. Helikon Investments Ltd boosted its position in 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 buying an additional 157,042 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of 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 worth $56,000 after buying an additional 2,976 shares during the last quarter. 1.64% of the stock is owned by institutional investors.

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.