Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 3.2% Higher – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price was up 3.2% during mid-day trading on Monday . The stock traded as high as $35.65 and last traded at $35.19. Approximately 21,998 shares were traded during trading, a decline of 88% from the average daily volume of 180,316 shares. The stock had previously closed at $34.11.

Analysts Set New Price Targets

Separately, StockNews.com raised Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “hold” rating to a “buy” rating in a research report on Thursday.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The stock’s fifty day simple moving average is $31.24 and its 200-day simple moving average is $36.04. The company has a market capitalization of $1.62 billion, a PE ratio of 6.97 and a beta of 1.53. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.78 earnings per share for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 10.22% and a return on equity of 18.97%. The business had revenue of $605.33 million for the quarter. On average, research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 1.38 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter worth $101,000. Advisors Preferred LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 1st quarter worth approximately $103,000. Jane Street Group LLC purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter valued at approximately $207,000. NewEdge Advisors LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth about $257,000. Finally, Voloridge Investment Management LLC acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at about $258,000. 1.64% of the stock is currently owned by institutional investors.

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.